Echo Street Capital Management LLC Purchases Shares of 3,662 MarketAxess Holdings Inc. (NASDAQ:MKTX)

Echo Street Capital Management LLC purchased a new stake in MarketAxess Holdings Inc. (NASDAQ:MKTXGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,662 shares of the financial services provider’s stock, valued at approximately $1,246,000.

Several other institutional investors also recently modified their holdings of the stock. FCF Advisors LLC increased its holdings in shares of MarketAxess by 2.7% in the first quarter. FCF Advisors LLC now owns 1,530 shares of the financial services provider’s stock valued at $521,000 after buying an additional 40 shares in the last quarter. Riverview Trust Co raised its stake in MarketAxess by 18.8% during the 1st quarter. Riverview Trust Co now owns 272 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 43 shares during the period. Marshall Financial Group LLC raised its stake in MarketAxess by 1.7% during the 1st quarter. Marshall Financial Group LLC now owns 2,522 shares of the financial services provider’s stock valued at $858,000 after purchasing an additional 43 shares during the period. DekaBank Deutsche Girozentrale raised its stake in MarketAxess by 1.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,008 shares of the financial services provider’s stock valued at $1,402,000 after purchasing an additional 45 shares during the period. Finally, Curi Wealth Management LLC raised its stake in MarketAxess by 11.3% during the 1st quarter. Curi Wealth Management LLC now owns 472 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 48 shares during the period. Institutional investors own 95.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MKTX. Jefferies Financial Group lowered their price target on shares of MarketAxess from $315.00 to $300.00 and set a “hold” rating on the stock in a report on Monday, June 27th. Morgan Stanley decreased their price objective on shares of MarketAxess from $338.00 to $325.00 and set an “equal weight” rating for the company in a report on Tuesday, July 19th. Credit Suisse Group decreased their price objective on shares of MarketAxess from $305.00 to $288.00 and set a “neutral” rating for the company in a report on Wednesday, September 7th. Rosenblatt Securities began coverage on shares of MarketAxess in a report on Wednesday, August 17th. They issued a “sell” rating and a $231.00 price objective for the company. Finally, Atlantic Securities upped their price target on shares of MarketAxess from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, August 19th. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $306.33.

MarketAxess Price Performance

MKTX stock opened at $265.93 on Monday. MarketAxess Holdings Inc. has a 52-week low of $235.42 and a 52-week high of $446.56. The company has a 50-day moving average of $261.96 and a two-hundred day moving average of $284.31. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 41.68 and a beta of 0.61.

MarketAxess (NASDAQ:MKTXGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. The business had revenue of $182.20 million during the quarter, compared to analyst estimates of $185.24 million. MarketAxess had a net margin of 34.77% and a return on equity of 23.55%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 earnings per share. Equities analysts expect that MarketAxess Holdings Inc. will post 6.62 EPS for the current fiscal year.

MarketAxess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Wednesday, August 3rd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Tuesday, August 2nd. MarketAxess’s dividend payout ratio is currently 43.89%.

MarketAxess Company Profile

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MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. It offers the access to liquidity in the U.S. investment-grade bonds, U.S. high-yield bonds, and U.S. Treasuries, as well as municipal bonds, emerging market debts, Eurobonds, and other fixed income securities.

See Also

Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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