NuWave Investment Management LLC Takes Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

NuWave Investment Management LLC acquired a new stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTXGet Rating) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 578 shares of the financial services provider’s stock, valued at approximately $197,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sageworth Trust Co of South Dakota purchased a new position in shares of MarketAxess during the fourth quarter valued at approximately $39,000. CVA Family Office LLC purchased a new position in shares of MarketAxess during the fourth quarter valued at approximately $60,000. JJJ Advisors Inc. raised its holdings in shares of MarketAxess by 198.4% during the fourth quarter. JJJ Advisors Inc. now owns 188 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 125 shares during the last quarter. PFG Private Wealth Management LLC raised its holdings in shares of MarketAxess by 24.8% during the fourth quarter. PFG Private Wealth Management LLC now owns 201 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 40 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of MarketAxess by 340.4% during the fourth quarter. Bessemer Group Inc. now owns 207 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 160 shares during the last quarter. 96.50% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on MKTX. Atlantic Securities cut their target price on shares of MarketAxess from $340.00 to $306.00 and set a “neutral” rating for the company in a research report on Friday, June 10th. Credit Suisse Group cut their target price on shares of MarketAxess from $332.00 to $316.00 and set a “neutral” rating for the company in a research report on Monday, April 25th. Rosenblatt Securities boosted their target price on shares of MarketAxess from $383.00 to $395.00 and gave the company a “buy” rating in a research report on Thursday, April 21st. StockNews.com began coverage on shares of MarketAxess in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Raymond James lowered shares of MarketAxess from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 6th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $358.63.

MKTX opened at $269.04 on Thursday. The firm has a market cap of $10.08 billion, a P/E ratio of 42.24 and a beta of 0.55. MarketAxess Holdings Inc. has a 1-year low of $249.01 and a 1-year high of $498.97. The company has a 50 day simple moving average of $269.88 and a two-hundred day simple moving average of $331.74.

MarketAxess (NASDAQ:MKTXGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The financial services provider reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.03. The business had revenue of $186.10 million during the quarter, compared to analyst estimates of $186.34 million. MarketAxess had a net margin of 35.13% and a return on equity of 23.46%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.11 earnings per share. Equities research analysts expect that MarketAxess Holdings Inc. will post 7.02 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 18th. Investors of record on Wednesday, May 4th were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, May 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.04%. MarketAxess’s dividend payout ratio is 43.96%.

In related news, Director Richard Leon Prager bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, April 22nd. The stock was purchased at an average price of $271.25 per share, for a total transaction of $271,250.00. Following the completion of the transaction, the director now owns 2,149 shares in the company, valued at $582,916.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christophe Pierre Danie Roupie sold 1,740 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $285.03, for a total transaction of $495,952.20. Following the transaction, the insider now owns 5,318 shares of the company’s stock, valued at approximately $1,515,789.54. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by corporate insiders.

About MarketAxess (Get Rating)

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.

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Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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