Bank of Nova Scotia Grows Stake in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Bank of Nova Scotia raised its stake in MarketAxess Holdings Inc. (NASDAQ:MKTXFree Report) by 29.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,542 shares of the financial services provider’s stock after acquiring an additional 1,026 shares during the quarter. Bank of Nova Scotia’s holdings in MarketAxess were worth $1,330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nordea Investment Management AB lifted its stake in shares of MarketAxess by 316.1% during the 4th quarter. Nordea Investment Management AB now owns 11,546 shares of the financial services provider’s stock valued at $3,367,000 after buying an additional 8,771 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of MarketAxess by 27.9% during the 4th quarter. New York State Common Retirement Fund now owns 96,476 shares of the financial services provider’s stock valued at $28,253,000 after buying an additional 21,041 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of MarketAxess by 28,547.8% during the 4th quarter. International Assets Investment Management LLC now owns 13,178 shares of the financial services provider’s stock valued at $3,859,000 after buying an additional 13,132 shares in the last quarter. Norris Perne & French LLP MI purchased a new stake in shares of MarketAxess during the 4th quarter valued at approximately $9,715,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of MarketAxess by 29.9% during the 4th quarter. Teacher Retirement System of Texas now owns 272,870 shares of the financial services provider’s stock valued at $79,910,000 after buying an additional 62,736 shares in the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MKTX has been the topic of a number of recent research reports. UBS Group dropped their price target on shares of MarketAxess from $305.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Bank of America began coverage on shares of MarketAxess in a report on Wednesday, April 10th. They set an “underperform” rating and a $199.00 target price on the stock. Barclays decreased their target price on shares of MarketAxess from $236.00 to $225.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 8th. Morgan Stanley upped their target price on shares of MarketAxess from $278.00 to $279.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, Piper Sandler decreased their target price on shares of MarketAxess from $250.00 to $237.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $249.73.

Check Out Our Latest Stock Report on MKTX

MarketAxess Price Performance

Shares of NASDAQ:MKTX opened at $205.97 on Friday. The company’s fifty day moving average price is $209.19 and its 200-day moving average price is $232.70. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 4.92 and a beta of 1.04. MarketAxess Holdings Inc. has a one year low of $195.01 and a one year high of $297.97.

MarketAxess (NASDAQ:MKTXGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.07. MarketAxess had a net margin of 33.83% and a return on equity of 20.82%. The firm had revenue of $210.30 million for the quarter, compared to analyst estimates of $212.99 million. During the same quarter in the prior year, the firm earned $1.96 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities research analysts expect that MarketAxess Holdings Inc. will post 7.17 EPS for the current year.

MarketAxess Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were paid a $0.74 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.44%. MarketAxess’s dividend payout ratio (DPR) is 43.47%.

MarketAxess Company Profile

(Free Report)

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.

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Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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