MarketAxess (NASDAQ:MKTX) issued its earnings results on Wednesday, January 30th. The financial services provider reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.06, MarketWatch Earnings reports. The firm had revenue of $112.44 million for the quarter, compared to analysts’ expectations of $112.37 million. MarketAxess had a net margin of 39.69% and a return on equity of 30.31%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share.
NASDAQ:MKTX opened at $228.23 on Thursday. MarketAxess has a 52-week low of $172.09 and a 52-week high of $231.33. The firm has a market cap of $8.40 billion, a PE ratio of 49.94, a PEG ratio of 8.53 and a beta of 0.11.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 27th. Stockholders of record on Wednesday, February 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Tuesday, February 12th. This is an increase from MarketAxess’s previous quarterly dividend of $0.42. MarketAxess’s payout ratio is 36.76%.
MKTX has been the subject of several recent research reports. Zacks Investment Research downgraded MarketAxess from a “hold” rating to a “sell” rating in a report on Friday, January 11th. BidaskClub raised MarketAxess from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Buckingham Research started coverage on MarketAxess in a report on Thursday, January 10th. They issued a “neutral” rating for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $215.50.
In related news, insider Kevin M. Mcpherson sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $216.89, for a total transaction of $542,225.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $220.94, for a total value of $4,418,800.00. Following the transaction, the chief executive officer now directly owns 1,023,640 shares in the company, valued at $226,163,021.60. The disclosure for this sale can be found here. Insiders have sold a total of 25,687 shares of company stock valued at $5,648,206 in the last quarter. Company insiders own 3.52% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in MKTX. Northern Trust Corp raised its position in shares of MarketAxess by 1.6% in the 2nd quarter. Northern Trust Corp now owns 308,293 shares of the financial services provider’s stock valued at $60,999,000 after purchasing an additional 4,769 shares in the last quarter. Royal London Asset Management Ltd. acquired a new position in shares of MarketAxess in the 2nd quarter valued at approximately $606,000. Atria Investments LLC raised its position in shares of MarketAxess by 25.6% in the 3rd quarter. Atria Investments LLC now owns 1,358 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 277 shares in the last quarter. First Hawaiian Bank acquired a new position in shares of MarketAxess in the 3rd quarter valued at approximately $113,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of MarketAxess by 42.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,000 shares of the financial services provider’s stock valued at $1,963,000 after acquiring an additional 3,300 shares during the last quarter. 99.19% of the stock is currently owned by institutional investors.
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MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer the access to global liquidity in U.S.
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