MarketAxess Holdings Inc. (NASDAQ:MKTX) Chairman Sells $5,435,000.00 in Stock

MarketAxess Holdings Inc. (NASDAQ:MKTX) Chairman Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $271.75, for a total value of $5,435,000.00. Following the completion of the sale, the chairman now owns 592,029 shares of the company’s stock, valued at approximately $160,883,880.75. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

MarketAxess Stock Down 1.3 %

NASDAQ MKTX opened at $261.65 on Friday. MarketAxess Holdings Inc. has a twelve month low of $192.42 and a twelve month high of $297.97. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 35.45, a price-to-earnings-growth ratio of 12.06 and a beta of 1.05. The business’s fifty day moving average is $272.48 and its 200 day moving average is $235.78.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The company had revenue of $206.70 million for the quarter, compared to the consensus estimate of $207.17 million. During the same quarter last year, the business posted $1.46 EPS. MarketAxess’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, research analysts anticipate that MarketAxess Holdings Inc. will post 7.33 earnings per share for the current fiscal year.

MarketAxess Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, November 20th. MarketAxess’s dividend payout ratio (DPR) is 40.11%.

MarketAxess announced that its board has authorized a stock buyback plan on Tuesday, August 6th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently issued reports on MKTX. Citigroup boosted their price target on MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft upped their target price on MarketAxess from $258.00 to $264.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. UBS Group raised their target price on MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com raised MarketAxess from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley raised their target price on MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, MarketAxess currently has a consensus rating of “Hold” and a consensus target price of $267.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Retirement Planning Co of New England Inc. raised its position in MarketAxess by 2.9% during the 2nd quarter. Retirement Planning Co of New England Inc. now owns 1,566 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 44 shares during the last quarter. Asset Management One Co. Ltd. raised its position in MarketAxess by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 15,431 shares of the financial services provider’s stock worth $3,953,000 after purchasing an additional 50 shares during the last quarter. Nisa Investment Advisors LLC raised its position in MarketAxess by 0.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,376 shares of the financial services provider’s stock worth $1,479,000 after purchasing an additional 52 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in MarketAxess by 1.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,080 shares of the financial services provider’s stock worth $1,287,000 after purchasing an additional 52 shares during the last quarter. Finally, M&T Bank Corp raised its position in MarketAxess by 4.0% during the 3rd quarter. M&T Bank Corp now owns 1,469 shares of the financial services provider’s stock worth $376,000 after purchasing an additional 56 shares during the last quarter. 99.01% of the stock is owned by institutional investors.

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.