MarketAxess Holdings Inc. (MKTX) Holdings Cut by Westpac Banking Corp

Westpac Banking Corp lowered its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 57.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,115 shares of the financial services provider’s stock after selling 20,387 shares during the quarter. Westpac Banking Corp’s holdings in MarketAxess were worth $2,698,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Sterling Capital Management LLC acquired a new position in shares of MarketAxess during the second quarter worth approximately $1,245,000. Vident Investment Advisory LLC acquired a new position in shares of MarketAxess during the second quarter worth approximately $761,000. BlackRock Inc. lifted its holdings in shares of MarketAxess by 3.6% during the second quarter. BlackRock Inc. now owns 3,411,494 shares of the financial services provider’s stock worth $674,996,000 after buying an additional 117,686 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of MarketAxess by 11.0% during the third quarter. Wells Fargo & Company MN now owns 1,253,683 shares of the financial services provider’s stock worth $223,770,000 after buying an additional 124,489 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its holdings in shares of MarketAxess by 2.8% during the second quarter. Riverhead Capital Management LLC now owns 13,842 shares of the financial services provider’s stock worth $2,739,000 after buying an additional 372 shares during the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

In other MarketAxess news, CEO Richard M. Mcvey sold 23,842 shares of the company’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $211.93, for a total value of $5,052,835.06. Following the sale, the chief executive officer now directly owns 1,054,986 shares in the company, valued at $223,583,182.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin M. Mcpherson sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $216.89, for a total value of $542,225.00. The disclosure for this sale can be found here. Corporate insiders own 3.52% of the company’s stock.

A number of research analysts recently commented on MKTX shares. BidaskClub upgraded MarketAxess from a “sell” rating to a “hold” rating in a research note on Friday, October 5th. Zacks Investment Research lowered MarketAxess from a “hold” rating to a “sell” rating in a research note on Monday, September 10th. ValuEngine upgraded MarketAxess from a “hold” rating to a “buy” rating in a research note on Thursday, October 4th. Barclays started coverage on MarketAxess in a research note on Friday, September 7th. They issued an “equal weight” rating and a $200.00 target price for the company. Finally, Goldman Sachs Group started coverage on MarketAxess in a research note on Monday, November 5th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. MarketAxess presently has a consensus rating of “Hold” and an average price target of $210.63.

Shares of NASDAQ:MKTX opened at $217.73 on Friday. MarketAxess Holdings Inc. has a fifty-two week low of $172.09 and a fifty-two week high of $229.84. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 51.23, a P/E/G ratio of 9.67 and a beta of 0.11.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.09. MarketAxess had a return on equity of 29.40% and a net margin of 37.97%. The firm had revenue of $101.44 million for the quarter, compared to analysts’ expectations of $101.19 million. During the same period in the prior year, the business posted $0.90 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that MarketAxess Holdings Inc. will post 4.51 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Tuesday, November 6th. MarketAxess’s dividend payout ratio (DPR) is 43.08%.

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About MarketAxess

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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Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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