MarketAxess Holdings Inc. (NASDAQ:MKTX) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 2.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 29,326 shares of the financial services provider’s stock after selling 657 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of MarketAxess worth $7,513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MKTX. DNB Asset Management AS lifted its position in shares of MarketAxess by 18.4% during the 2nd quarter. DNB Asset Management AS now owns 6,393 shares of the financial services provider’s stock valued at $1,282,000 after acquiring an additional 993 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in MarketAxess during the 2nd quarter valued at $129,000. Czech National Bank lifted its holdings in shares of MarketAxess by 8.3% in the second quarter. Czech National Bank now owns 7,221 shares of the financial services provider’s stock valued at $1,448,000 after purchasing an additional 553 shares in the last quarter. Bangor Savings Bank boosted its position in shares of MarketAxess by 3.3% in the second quarter. Bangor Savings Bank now owns 6,997 shares of the financial services provider’s stock worth $1,403,000 after buying an additional 221 shares during the period. Finally, V Square Quantitative Management LLC grew its holdings in shares of MarketAxess by 7.5% during the second quarter. V Square Quantitative Management LLC now owns 1,453 shares of the financial services provider’s stock valued at $291,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Richard M. Mcvey sold 10,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $267.67, for a total transaction of $2,676,700.00. Following the transaction, the chairman now owns 562,029 shares of the company’s stock, valued at approximately $150,438,302.43. The trade was a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MKTX has been the topic of several research analyst reports. Bank of America lowered their target price on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a research note on Thursday, October 3rd. Citigroup raised their price target on shares of MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, October 4th. StockNews.com upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. The Goldman Sachs Group raised their price target on shares of MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Finally, Piper Sandler restated a “neutral” rating and set a $265.00 price target on shares of MarketAxess in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $267.50.

MarketAxess Trading Down 5.5 %

Shares of MarketAxess stock opened at $248.39 on Thursday. The firm has a fifty day simple moving average of $273.53 and a 200-day simple moving average of $240.71. MarketAxess Holdings Inc. has a 1-year low of $192.42 and a 1-year high of $297.97. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 11.83 and a beta of 1.00.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.05. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The business had revenue of $206.70 million during the quarter, compared to analysts’ expectations of $207.17 million. During the same period in the previous year, the company earned $1.46 earnings per share. MarketAxess’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, research analysts predict that MarketAxess Holdings Inc. will post 7.37 earnings per share for the current year.

MarketAxess Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Wednesday, November 20th. MarketAxess’s payout ratio is 40.11%.

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.