Advisors Asset Management Inc. Purchases 185 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Advisors Asset Management Inc. boosted its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTXGet Rating) by 8.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,398 shares of the financial services provider’s stock after buying an additional 185 shares during the period. Advisors Asset Management Inc.’s holdings in MarketAxess were worth $614,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MKTX. Kestra Advisory Services LLC bought a new position in MarketAxess in the 1st quarter worth $383,000. DekaBank Deutsche Girozentrale grew its position in MarketAxess by 1.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 4,008 shares of the financial services provider’s stock valued at $1,402,000 after acquiring an additional 45 shares during the last quarter. Park Avenue Securities LLC grew its position in MarketAxess by 42.8% in the 1st quarter. Park Avenue Securities LLC now owns 2,090 shares of the financial services provider’s stock valued at $711,000 after acquiring an additional 626 shares during the last quarter. Signaturefd LLC grew its position in MarketAxess by 29.7% in the 1st quarter. Signaturefd LLC now owns 393 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 90 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its position in MarketAxess by 1.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 5,074 shares of the financial services provider’s stock valued at $1,726,000 after acquiring an additional 53 shares during the last quarter. 95.62% of the stock is currently owned by hedge funds and other institutional investors.

MarketAxess Stock Up 1.3 %

MKTX opened at $259.79 on Friday. The business has a 50 day moving average price of $242.14 and a two-hundred day moving average price of $257.71. MarketAxess Holdings Inc. has a 52 week low of $217.44 and a 52 week high of $422.60. The company has a market cap of $9.78 billion, a PE ratio of 40.34 and a beta of 0.67.

MarketAxess (NASDAQ:MKTXGet Rating) last released its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $172.10 million for the quarter, compared to analysts’ expectations of $172.41 million. MarketAxess had a return on equity of 23.89% and a net margin of 34.47%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 EPS. As a group, sell-side analysts expect that MarketAxess Holdings Inc. will post 6.63 EPS for the current fiscal year.

MarketAxess Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 16th. Investors of record on Wednesday, November 2nd were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Tuesday, November 1st. MarketAxess’s dividend payout ratio (DPR) is currently 43.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Credit Suisse Group increased their price target on MarketAxess from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, October 21st. Citigroup started coverage on MarketAxess in a research note on Tuesday, October 11th. They issued a “buy” rating and a $285.00 price target for the company. StockNews.com started coverage on MarketAxess in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft raised their price objective on MarketAxess from $225.00 to $240.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley dropped their target price on MarketAxess from $289.00 to $274.00 and set an “equal weight” rating on the stock in a report on Friday, October 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $290.30.

MarketAxess Company Profile

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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