HB Wealth Management LLC Increases Holdings in MarketAxess Holdings Inc. $MKTX

HB Wealth Management LLC raised its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 25.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,736 shares of the financial services provider’s stock after purchasing an additional 351 shares during the quarter. HB Wealth Management LLC’s holdings in MarketAxess were worth $388,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Geneos Wealth Management Inc. raised its holdings 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 buying an additional 80 shares during the period. Harbor Investment Advisory LLC acquired a new stake in MarketAxess in the second quarter valued at approximately $37,000. UMB Bank n.a. raised its stake in shares of MarketAxess by 57.4% during the first quarter. UMB Bank n.a. now owns 222 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 81 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of MarketAxess by 51.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 84 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of MarketAxess in the first quarter valued at $56,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MKTX shares. Barclays dropped their price target on shares of MarketAxess from $237.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 7th. Jefferies Financial Group dropped their target price on MarketAxess from $217.00 to $208.00 and set a “hold” rating on the stock in a research report on Monday, August 11th. Wall Street Zen upgraded MarketAxess from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Piper Sandler restated a “neutral” rating and set a $204.00 price objective (up previously from $202.00) on shares of MarketAxess in a research note on Tuesday, July 15th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of MarketAxess in a report on Saturday, September 27th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $226.18.

Insider Buying and Selling

In other MarketAxess news, CRO Kevin M. Mcpherson sold 1,494 shares of the business’s 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 completion of the sale, the executive directly owned 67,681 shares of the company’s stock, valued at $12,542,642.92. The trade was a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen P. Casper sold 1,600 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $186.59, for a total transaction of $298,544.00. Following the transaction, the director owned 43,208 shares in the company, valued at approximately $8,062,180.72. This trade represents a 3.57% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.66% of the company’s stock.

MarketAxess Stock Up 0.5%

Shares of NASDAQ:MKTX opened at $170.50 on Monday. The firm has a fifty day moving average of $186.80 and a two-hundred day moving average of $207.34. MarketAxess Holdings Inc. has a 12-month low of $168.74 and a 12-month high of $296.68. The firm has a market capitalization of $6.37 billion, a P/E ratio of 28.70, a price-to-earnings-growth ratio of 3.32 and a beta of 0.89.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share (EPS) 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 analyst estimates of $218.05 million. During the same period last year, the company earned $1.72 earnings per share. MarketAxess’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts expect that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were paid a $0.76 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $3.04 annualized dividend and a dividend yield of 1.8%. MarketAxess’s payout ratio is presently 51.18%.

MarketAxess 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.