Quantinno Capital Management LP Buys New Shares in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Quantinno Capital Management LP purchased a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,407 shares of the financial services provider’s stock, valued at approximately $360,000.

Other institutional investors have also bought and sold shares of the company. Accent Capital Management LLC bought a new position in shares of MarketAxess in the third quarter worth about $25,000. Goodman Advisory Group LLC purchased a new position in MarketAxess in the 2nd quarter worth approximately $27,000. Blue Trust Inc. boosted its stake in MarketAxess by 405.1% in the 2nd quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 158 shares during the period. Exchange Traded Concepts LLC purchased a new stake in MarketAxess during the 3rd quarter valued at approximately $54,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of MarketAxess by 555.6% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider’s stock valued at $60,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

MarketAxess Stock Performance

Shares of MKTX stock opened at $233.73 on Monday. The stock has a 50 day moving average price of $270.45 and a 200 day moving average price of $242.14. The firm has a market capitalization of $8.81 billion, a P/E ratio of 31.67, a P/E/G ratio of 10.54 and a beta of 1.00. MarketAxess Holdings Inc. has a 52-week low of $192.42 and a 52-week high of $297.97.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. The firm had revenue of $206.70 million during the quarter, compared to analyst estimates of $207.17 million. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The business’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. As a group, sell-side analysts forecast that MarketAxess Holdings Inc. will post 7.38 EPS for the current year.

MarketAxess Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were paid a $0.74 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $2.96 dividend on an annualized basis and a yield of 1.27%. MarketAxess’s dividend payout ratio is currently 40.11%.

Insiders Place Their Bets

In related news, Chairman Richard M. Mcvey sold 20,000 shares of the company’s stock in a transaction dated 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 directly owns 592,029 shares of the company’s stock, valued at $160,883,880.75. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Scott Pintoff sold 300 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $240.57, for a total transaction of $72,171.00. Following the transaction, the general counsel now directly owns 8,302 shares in the company, valued at $1,997,212.14. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,300 shares of company stock worth $8,183,871 in the last three months. Corporate insiders own 2.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MKTX shares. Bank of America dropped their target price on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a research report on Thursday, October 3rd. The Goldman Sachs Group increased their price objective on shares of MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Piper Sandler reaffirmed a “neutral” rating and issued a $265.00 target price on shares of MarketAxess in a report on Thursday, November 7th. Citigroup increased 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. Finally, Barclays reduced their price objective on MarketAxess from $289.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, MarketAxess has a consensus rating of “Hold” and an average target price of $266.70.

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.