Charles Schwab Investment Management Inc. Sells 6,001 Shares of MarketAxess Holdings Inc. $MKTX

Charles Schwab Investment Management Inc. reduced its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 1.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 366,467 shares of the financial services provider’s stock after selling 6,001 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.98% of MarketAxess worth $81,847,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in MarketAxess by 200.0% in the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC raised its position in MarketAxess by 992.9% during the second quarter. True Wealth Design LLC now owns 153 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 139 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of MarketAxess in the 2nd quarter valued at approximately $37,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of MarketAxess by 51.2% in the 2nd 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 during the period. Finally, Allworth Financial LP boosted its holdings in shares of MarketAxess by 160.5% in the 2nd quarter. Allworth Financial LP now owns 310 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 191 shares during the period. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

MarketAxess Price Performance

Shares of MKTX opened at $163.93 on Friday. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 6.44 and a beta of 0.94. MarketAxess Holdings Inc. has a 1-year low of $156.17 and a 1-year high of $265.74. The company has a 50-day moving average of $169.39 and a 200 day moving average of $193.25.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Friday, November 7th. The financial services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.15. The business had revenue of $208.82 million for the quarter, compared to the consensus estimate of $212.59 million. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 EPS. On average, equities analysts anticipate that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 19th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, November 19th. MarketAxess’s dividend payout ratio (DPR) is presently 51.70%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wall Street Zen upgraded MarketAxess from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Loop Capital set a $164.00 target price on shares of MarketAxess in a research note on Tuesday, October 14th. Keefe, Bruyette & Woods lifted their price target on shares of MarketAxess from $194.00 to $198.00 and gave the stock a “market perform” rating in a research note on Monday, November 10th. Barclays upped their price target on shares of MarketAxess from $186.00 to $188.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Finally, Zacks Research upgraded MarketAxess from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $205.91.

Insiders Place Their Bets

In other news, CRO Kevin M. Mcpherson sold 1,494 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $185.32, for a total transaction of $276,868.08. Following the transaction, the executive owned 67,681 shares in the company, valued at approximately $12,542,642.92. This trade represents a 2.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen P. Casper sold 1,600 shares of MarketAxess stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $186.59, for a total value 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 SEC filing for this sale provides additional information. Insiders own 0.65% 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.