Cinctive Capital Management LP Sells 6,359 Shares of MarketAxess Holdings Inc. $MKTX

Cinctive Capital Management LP trimmed its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 33.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,916 shares of the financial services provider’s stock after selling 6,359 shares during the quarter. Cinctive Capital Management LP’s holdings in MarketAxess were worth $2,251,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MUFG Securities EMEA plc purchased a new position in MarketAxess in the second quarter worth about $25,000. Geneos Wealth Management Inc. raised its position in MarketAxess by 200.0% during the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 80 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new stake in MarketAxess during the third quarter valued at approximately $38,000. Abich Financial Wealth Management LLC bought a new stake in shares of MarketAxess in the 3rd quarter valued at approximately $43,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of MarketAxess in the 3rd quarter worth approximately $53,000. Institutional investors own 99.01% of the company’s stock.

Wall Street Analysts Forecast Growth

MKTX has been the topic of several analyst reports. Piper Sandler cut their target price on MarketAxess from $180.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. Zacks Research raised shares of MarketAxess from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Morgan Stanley cut their price objective on shares of MarketAxess from $204.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Barclays reduced their target price on shares of MarketAxess from $182.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Monday, February 9th. Finally, Weiss Ratings upgraded shares of MarketAxess from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 10th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $200.40.

MarketAxess Stock Up 0.1%

Shares of NASDAQ MKTX opened at $180.33 on Tuesday. MarketAxess Holdings Inc. has a 52-week low of $156.17 and a 52-week high of $232.84. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 2.98 and a beta of 0.93. The stock has a 50 day moving average price of $176.36 and a 200 day moving average price of $174.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.80 and a current ratio of 2.80.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Friday, February 6th. The financial services provider reported $1.68 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.04). MarketAxess had a return on equity of 20.88% and a net margin of 29.14%.The firm had revenue of $209.41 million for the quarter, compared to analysts’ expectations of $214.06 million. During the same quarter in the previous year, the business earned $1.73 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Sell-side analysts expect that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

MarketAxess Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th were paid a dividend of $0.78 per share. This is an increase from MarketAxess’s previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Wednesday, February 18th. MarketAxess’s payout ratio is 46.85%.

MarketAxess Company Profile

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.