Parvin Asset Management LLC Buys 4,424 Shares of MarketAxess Holdings Inc. $MKTX

Parvin Asset Management LLC lifted its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 327.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,774 shares of the financial services provider’s stock after buying an additional 4,424 shares during the quarter. Parvin Asset Management LLC’s holdings in MarketAxess were worth $1,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MKTX. Jones Financial Companies Lllp lifted its holdings in shares of MarketAxess by 151.0% during the first quarter. Jones Financial Companies Lllp now owns 2,683 shares of the financial services provider’s stock worth $580,000 after buying an additional 1,614 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of MarketAxess by 8.4% during the first quarter. Empowered Funds LLC now owns 1,716 shares of the financial services provider’s stock worth $371,000 after buying an additional 133 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of MarketAxess by 40.7% during the first quarter. Woodline Partners LP now owns 3,185 shares of the financial services provider’s stock worth $689,000 after buying an additional 921 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of MarketAxess by 200.0% during the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock worth $26,000 after buying an additional 80 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in shares of MarketAxess during the second quarter worth $406,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Trading Up 3.1%

MKTX opened at $124.81 on Wednesday. MarketAxess Holdings Inc. has a twelve month low of $113.29 and a twelve month high of $225.59. The company has a 50-day simple moving average of $145.84 and a 200 day simple moving average of $164.78. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 3.92 and a beta of 0.86.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.10. MarketAxess had a net margin of 35.53% and a return on equity of 22.28%. The business had revenue of $233.38 million during the quarter, compared to analysts’ expectations of $231.91 million. During the same quarter in the prior year, the business posted $1.87 earnings per share. MarketAxess’s revenue was up 11.9% compared to the same quarter last year. Analysts predict that MarketAxess Holdings Inc. will post 8 EPS for the current fiscal year.

MarketAxess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $3.12 annualized dividend and a yield of 2.5%. MarketAxess’s dividend payout ratio is currently 36.88%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MKTX. Keefe, Bruyette & Woods began coverage on MarketAxess in a report on Wednesday, April 8th. They set an “outperform” rating and a $195.00 target price for the company. Barclays dropped their target price on MarketAxess from $189.00 to $170.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Weiss Ratings downgraded MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Bank of America raised MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 target price for the company in a report on Friday, June 12th. Finally, Argus downgraded MarketAxess from a “buy” rating to a “hold” rating in a report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $183.10.

About MarketAxess

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.