Parallel Advisors LLC Acquires 289 Shares of MarketAxess Holdings Inc. $MKTX

Parallel Advisors LLC boosted its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 73.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 680 shares of the financial services provider’s stock after purchasing an additional 289 shares during the quarter. Parallel Advisors LLC’s holdings in MarketAxess were worth $152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its position in shares of MarketAxess by 200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 80 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of MarketAxess by 49.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 54 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in shares of MarketAxess during the 2nd quarter valued at approximately $37,000. UMB Bank n.a. boosted its position in shares of MarketAxess by 57.4% during the 1st quarter. UMB Bank n.a. now owns 222 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 81 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of MarketAxess during the 1st quarter valued at approximately $56,000. 99.01% of the stock is currently owned by institutional investors.

MarketAxess Stock Performance

Shares of NASDAQ MKTX opened at $179.11 on Wednesday. The company has a market cap of $6.69 billion, a PE ratio of 30.15, a P/E/G ratio of 3.46 and a beta of 0.88. The business has a 50-day simple moving average of $192.61 and a two-hundred day simple moving average of $209.53. MarketAxess Holdings Inc. has a fifty-two week low of $176.57 and a fifty-two week high of $296.68.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.06. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The business had revenue of $219.46 million during the quarter, compared to the consensus estimate of $218.05 million. During the same quarter last year, the company earned $1.72 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts predict that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.7%. MarketAxess’s payout ratio is 51.18%.

Analysts Set New Price Targets

MKTX has been the topic of several recent research reports. Barclays decreased their price target on MarketAxess from $237.00 to $200.00 and set an “equal weight” rating on the stock in a report on Thursday, August 7th. UBS Group decreased their price target on MarketAxess from $295.00 to $255.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Morgan Stanley decreased their price target on MarketAxess from $283.00 to $274.00 and set an “overweight” rating on the stock in a report on Tuesday, July 15th. Jefferies Financial Group decreased their price target on MarketAxess from $217.00 to $208.00 and set a “hold” rating on the stock in a report on Monday, August 11th. Finally, Argus upgraded MarketAxess from a “hold” rating to a “buy” rating and set a $212.00 price target on the stock in a report on Monday, August 25th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $228.09.

Insider Transactions at MarketAxess

In related news, Director Stephen P. Casper sold 1,600 shares of MarketAxess stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $186.59, for a total transaction of $298,544.00. Following the completion of the sale, the director owned 43,208 shares of the company’s stock, valued at $8,062,180.72. The trade was a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Kevin M. Mcpherson sold 1,494 shares of MarketAxess stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $185.32, for a total value of $276,868.08. Following the transaction, the executive owned 67,681 shares of the company’s stock, valued at approximately $12,542,642.92. This represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.66% of the company’s stock.

MarketAxess Company Profile

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.