Insider Selling: MarketAxess (NASDAQ:MKTX) Director Sells $1,005,964.80 in Stock

MarketAxess Holdings Inc. (NASDAQ:MKTX - Get Free Report) Director William Frank Jr. Cruger sold 6,164 shares of MarketAxess stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $163.20, for a total transaction of $1,005,964.80. Following the completion of the sale, the director owned 4,033 shares of the company's stock, valued at $658,185.60. This represents a 60.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

MarketAxess Stock Down 0.1%

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MarketAxess stock opened at $163.00 on Friday. The company has a market capitalization of $5.74 billion, a PE ratio of 19.22, a PEG ratio of 2.08 and a beta of 0.83. MarketAxess Holdings Inc. has a 12-month low of $108.75 and a 12-month high of $195.96. The firm's fifty day moving average is $145.93 and its 200 day moving average is $149.79. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.09.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.10. MarketAxess had a net margin of 35.22% and a return on equity of 22.48%. The business had revenue of $218.41 million during the quarter, compared to analysts' expectations of $216.70 million. During the same period last year, the company posted $2.00 earnings per share. The business's quarterly revenue was down .5% on a year-over-year basis. As a group, sell-side analysts predict that MarketAxess Holdings Inc. will post 8.06 EPS for the current fiscal year.

MarketAxess Announces Dividend

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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 19th. MarketAxess's dividend payout ratio is 36.79%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MKTX. William Blair lowered MarketAxess from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 30th. Bank of America upgraded MarketAxess from an "underperform" rating to a "neutral" rating and set a $170.00 price target on the stock in a report on Friday, June 12th. UBS Group cut MarketAxess from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $200.00 to $167.00 in a research note on Friday, July 31st. The Goldman Sachs Group decreased their price objective on MarketAxess from $168.00 to $130.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. Finally, Barclays upped their target price on MarketAxess from $132.00 to $167.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $156.10.

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Get Our Latest Stock Analysis on MKTX

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Ancora Advisors LLC raised its holdings in shares of MarketAxess by 1.9% in the 3rd quarter. Ancora Advisors LLC now owns 3,522 shares of the financial services provider's stock worth $614,000 after acquiring an additional 67 shares during the last quarter. Orion Porfolio Solutions LLC boosted its stake in MarketAxess by 1.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 4,203 shares of the financial services provider's stock valued at $939,000 after purchasing an additional 69 shares during the last quarter. Krilogy Financial LLC increased its holdings in MarketAxess by 1.0% during the 1st quarter. Krilogy Financial LLC now owns 7,884 shares of the financial services provider's stock worth $1,368,000 after purchasing an additional 77 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in MarketAxess by 200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider's stock worth $26,000 after purchasing an additional 80 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its holdings in MarketAxess by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 7,181 shares of the financial services provider's stock worth $1,302,000 after purchasing an additional 81 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

MarketAxess Company Profile

(Get Free Report)

MarketAxess Holdings Inc operates an electronic trading platform for institutional fixed-income markets. Through its technology, investors and dealers can trade corporate bonds, government securities, emerging-market debt and other credit products in an electronic environment designed to improve access, execution and transparency.

The company's offerings include its Open Trading marketplace, which connects a broad network of institutional participants, as well as a range of trading protocols that support different liquidity and execution needs.

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