Elevation Point Wealth Partners LLC Buys Shares of 2,197 MarketAxess Holdings Inc. (NASDAQ:MKTX)

Elevation Point Wealth Partners LLC bought a new stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) during the first quarter, Holdings Channel reports. The institutional investor bought 2,197 shares of the financial services provider’s stock, valued at approximately $475,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MKTX. Empowered Funds LLC purchased a new position in MarketAxess in the fourth quarter valued at about $358,000. V Square Quantitative Management LLC boosted its stake in shares of MarketAxess by 4.0% during the 4th quarter. V Square Quantitative Management LLC now owns 1,340 shares of the financial services provider’s stock worth $303,000 after acquiring an additional 52 shares in the last quarter. Congress Asset Management Co. bought a new stake in shares of MarketAxess during the 4th quarter worth about $71,103,000. Principal Securities Inc. boosted its stake in shares of MarketAxess by 230.4% during the 4th quarter. Principal Securities Inc. now owns 261 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 182 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of MarketAxess by 2.2% during the 4th quarter. CIBC Asset Management Inc now owns 5,357 shares of the financial services provider’s stock worth $1,211,000 after acquiring an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

MarketAxess Stock Down 0.7%

Shares of NASDAQ:MKTX opened at $225.25 on Monday. The business has a 50 day moving average price of $219.79 and a 200 day moving average price of $218.06. MarketAxess Holdings Inc. has a twelve month low of $186.84 and a twelve month high of $296.68. The company has a market cap of $8.45 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 3.89 and a beta of 0.84.

MarketAxess (NASDAQ:MKTX) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.05. The firm had revenue of $208.58 million during the quarter, compared to the consensus estimate of $211.81 million. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.92 EPS. Analysts anticipate that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st were issued a $0.76 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $3.04 annualized dividend and a yield of 1.35%. MarketAxess’s dividend payout ratio (DPR) is 52.87%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Bank of America upped their price target on MarketAxess from $189.00 to $191.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 2nd. Citigroup upped their price target on MarketAxess from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Piper Sandler decreased their price target on MarketAxess from $213.00 to $202.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Barclays upped their price target on MarketAxess from $232.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Finally, UBS Group decreased their target price on MarketAxess from $305.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $241.78.

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.