Stifel Financial Corp increased its holdings in shares of MarketAxess Holdings, Inc. (NASDAQ:MKTX) by 11.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 7,460 shares of the financial services provider’s stock after purchasing an additional 759 shares during the period. Stifel Financial Corp’s holdings in MarketAxess were worth $1,381,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of MKTX. AHL Partners LLP bought a new stake in shares of MarketAxess during the second quarter worth approximately $338,000. Marshall Wace North America L.P. acquired a new stake in shares of MarketAxess in the second quarter valued at approximately $1,506,000. Prudential Financial Inc. raised its position in shares of MarketAxess by 328.8% in the second quarter. Prudential Financial Inc. now owns 137,410 shares of the financial services provider’s stock valued at $27,634,000 after buying an additional 105,366 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of MarketAxess by 4.3% in the second quarter. Victory Capital Management Inc. now owns 86,344 shares of the financial services provider’s stock valued at $17,364,000 after buying an additional 3,544 shares in the last quarter. Finally, Ramsey Quantitative Systems acquired a new stake in shares of MarketAxess in the second quarter valued at approximately $328,000. Institutional investors and hedge funds own 91.65% of the company’s stock.
A number of research firms have recently weighed in on MKTX. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $215.00 price target on shares of MarketAxess in a research report on Friday. Rosenblatt Securities began coverage on shares of MarketAxess in a research report on Thursday, December 14th. They issued a “neutral” rating and a $190.00 price target for the company. Finally, Zacks Investment Research upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. MarketAxess has a consensus rating of “Buy” and an average price target of $192.83.
MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.90 EPS for the quarter, meeting the consensus estimate of $0.90. MarketAxess had a net margin of 37.67% and a return on equity of 30.12%. The business had revenue of $96.70 million during the quarter, compared to the consensus estimate of $96.35 million. During the same period in the previous year, the business earned $0.82 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. equities research analysts forecast that MarketAxess Holdings, Inc. will post 3.91 EPS for the current fiscal year.
MarketAxess declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 25th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In other news, CEO Richard M. Mcvey sold 35,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $178.29, for a total transaction of $6,240,150.00. Following the completion of the transaction, the chief executive officer now directly owns 1,113,076 shares in the company, valued at $198,450,320.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Steinhardt sold 4,225 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $174.00, for a total transaction of $735,150.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,225 shares of company stock valued at $8,955,630. Company insiders own 4.02% of the company’s stock.
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MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.
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