Mn Services Vermogensbeheer B.V. Trims Stock Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Mn Services Vermogensbeheer B.V. cut its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 4.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,600 shares of the financial services provider’s stock after selling 700 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in MarketAxess were worth $3,741,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Goodman Advisory Group LLC purchased a new stake in MarketAxess during the 2nd quarter worth approximately $27,000. Larson Financial Group LLC grew its stake in shares of MarketAxess by 2,428.6% in the first quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 170 shares in the last quarter. Blue Trust Inc. increased its position in shares of MarketAxess by 405.1% during the second quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 158 shares during the period. CVA Family Office LLC raised its stake in shares of MarketAxess by 47.4% in the second quarter. CVA Family Office LLC now owns 252 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 81 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in MarketAxess in the third quarter valued at $54,000. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MKTX has been the topic of a number of analyst reports. Bank of America reduced their price target on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a research report on Thursday, October 3rd. Barclays raised their target price on shares of MarketAxess from $237.00 to $268.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of MarketAxess from $218.00 to $223.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Piper Sandler raised their price objective on shares of MarketAxess from $235.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of MarketAxess from $222.00 to $225.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $253.30.

MarketAxess Price Performance

Shares of MKTX opened at $274.87 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.91 and a quick ratio of 2.91. MarketAxess Holdings Inc. has a 1-year low of $192.42 and a 1-year high of $297.97. The stock has a market cap of $10.38 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 9.04 and a beta of 1.05. The firm has a fifty day moving average price of $269.28 and a 200 day moving average price of $232.51.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.04. The business had revenue of $197.70 million during the quarter, compared to the consensus estimate of $198.07 million. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 EPS. As a group, sell-side analysts anticipate that MarketAxess Holdings Inc. will post 7.26 EPS for the current year.

MarketAxess Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.08%. MarketAxess’s dividend payout ratio is currently 42.65%.

MarketAxess declared that its Board of Directors has initiated a share repurchase program on Tuesday, August 6th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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.