Portside Wealth Group LLC Grows Stake in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Portside Wealth Group LLC raised its stake in MarketAxess Holdings Inc. (NASDAQ:MKTXFree Report) by 15.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,503 shares of the financial services provider’s stock after acquiring an additional 332 shares during the period. Portside Wealth Group LLC’s holdings in MarketAxess were worth $733,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Van ECK Associates Corp lifted its holdings in shares of MarketAxess by 146.4% during the third quarter. Van ECK Associates Corp now owns 1,265,784 shares of the financial services provider’s stock valued at $270,422,000 after purchasing an additional 752,111 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of MarketAxess by 18.3% during the first quarter. BlackRock Inc. now owns 3,928,679 shares of the financial services provider’s stock valued at $1,537,253,000 after purchasing an additional 608,107 shares in the last quarter. FMR LLC lifted its holdings in shares of MarketAxess by 385.6% during the third quarter. FMR LLC now owns 545,563 shares of the financial services provider’s stock valued at $116,554,000 after purchasing an additional 433,217 shares in the last quarter. Norges Bank bought a new position in shares of MarketAxess during the fourth quarter valued at $110,636,000. Finally, Eagle Asset Management Inc. lifted its holdings in shares of MarketAxess by 138.8% during the fourth quarter. Eagle Asset Management Inc. now owns 627,692 shares of the financial services provider’s stock valued at $178,810,000 after purchasing an additional 364,829 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

MarketAxess Stock Down 0.9 %

MarketAxess stock opened at $221.70 on Monday. The company has a market cap of $8.40 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 3.78 and a beta of 0.98. The firm’s fifty day moving average is $230.99 and its 200 day moving average is $238.03. MarketAxess Holdings Inc. has a 52-week low of $200.01 and a 52-week high of $399.78.

MarketAxess (NASDAQ:MKTXGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.11. MarketAxess had a net margin of 34.29% and a return on equity of 21.76%. The business had revenue of $197.20 million for the quarter, compared to analysts’ expectations of $196.70 million. During the same quarter in the previous year, the business posted $1.58 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate that MarketAxess Holdings Inc. will post 7.27 earnings per share for the current fiscal year.

MarketAxess Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given a dividend of $0.74 per share. This is a boost from MarketAxess’s previous quarterly dividend of $0.72. The ex-dividend date was Tuesday, February 13th. This represents a $2.96 dividend on an annualized basis and a yield of 1.34%. MarketAxess’s payout ratio is 43.21%.

Wall Street Analyst Weigh In

MKTX has been the topic of a number of research analyst reports. Barclays downgraded MarketAxess from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $246.00 to $291.00 in a report on Monday, January 8th. William Blair restated an “outperform” rating on shares of MarketAxess in a research report on Tuesday, January 23rd. The Goldman Sachs Group reduced their price target on MarketAxess from $263.00 to $225.00 and set a “neutral” rating for the company in a research report on Thursday, February 1st. Citigroup upped their price target on MarketAxess from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Finally, Rosenblatt Securities reduced their price target on MarketAxess from $229.00 to $210.00 and set a “sell” rating for the company in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $266.89.

View Our Latest Stock Analysis on MarketAxess

Insider Buying and Selling at MarketAxess

In other MarketAxess news, CRO Kevin M. Mcpherson sold 2,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $221.26, for a total transaction of $442,520.00. Following the transaction, the executive now owns 70,092 shares in the company, valued at $15,508,555.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.

About MarketAxess

(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.

Further Reading

Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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