MarketAxess Holdings Inc. (NASDAQ:MKTX) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 20.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,884 shares of the financial services provider’s stock after purchasing an additional 10,135 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of MarketAxess worth $23,432,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of MarketAxess by 2.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,342 shares of the financial services provider’s stock worth $374,000 after acquiring an additional 30 shares in the last quarter. ETF Managers Group LLC boosted its stake in shares of MarketAxess by 1.5% during the 1st quarter. ETF Managers Group LLC now owns 2,132 shares of the financial services provider’s stock worth $834,000 after acquiring an additional 31 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in MarketAxess by 49.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 106 shares of the financial services provider’s stock valued at $41,000 after buying an additional 35 shares in the last quarter. CI Investments Inc. lifted its stake in MarketAxess by 14.9% in the 4th quarter. CI Investments Inc. now owns 339 shares of the financial services provider’s stock valued at $95,000 after buying an additional 44 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in MarketAxess by 62.5% in the 1st quarter. Parkside Financial Bank & Trust now owns 117 shares of the financial services provider’s stock valued at $46,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Stock Down 1.0 %

MKTX stock opened at $240.93 on Friday. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 3.23 and a beta of 0.77. The business has a fifty day simple moving average of $253.32 and a 200-day simple moving average of $300.80. MarketAxess Holdings Inc. has a 52 week low of $217.44 and a 52 week high of $399.78.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The business had revenue of $179.90 million during the quarter, compared to the consensus estimate of $179.47 million. MarketAxess had a return on equity of 23.12% and a net margin of 34.38%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 EPS. As a group, analysts expect that MarketAxess Holdings Inc. will post 7.14 earnings per share for the current fiscal year.

MarketAxess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 2nd were given a $0.72 dividend. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $2.88 dividend on an annualized basis and a yield of 1.20%. MarketAxess’s payout ratio is currently 42.92%.

Insider Buying and Selling at MarketAxess

In other MarketAxess news, insider Kevin M. Mcpherson sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $274.00, for a total value of $548,000.00. Following the completion of the transaction, the insider now directly owns 71,899 shares of the company’s stock, valued at approximately $19,700,326. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Kevin M. Mcpherson sold 2,000 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $274.00, for a total transaction of $548,000.00. Following the transaction, the insider now owns 71,899 shares of the company’s stock, valued at $19,700,326. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher R. Concannon purchased 4,270 shares of MarketAxess stock in a transaction dated Monday, August 14th. The shares were bought at an average cost of $238.42 per share, for a total transaction of $1,018,053.40. Following the transaction, the chief executive officer now directly owns 47,166 shares of the company’s stock, valued at approximately $11,245,317.72. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on MKTX. Rosenblatt Securities reaffirmed a “sell” rating and issued a $234.00 target price on shares of MarketAxess in a research note on Friday, July 21st. Atlantic Securities reduced their target price on MarketAxess from $368.00 to $315.00 in a research note on Wednesday, July 12th. StockNews.com began coverage on MarketAxess in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Piper Sandler reduced their target price on MarketAxess from $375.00 to $260.00 in a research note on Wednesday, July 5th. Finally, TheStreet lowered MarketAxess from a “b-” rating to a “c+” rating in a research note on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $316.10.

MarketAxess Profile

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.