Dockside LLC Makes New $1.38 Million Investment in MarketAxess Holdings Inc. $MKTX

Dockside LLC purchased a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX) during the 4th quarter, Holdings Channel reports. The firm purchased 7,619 shares of the financial services provider’s stock, valued at approximately $1,381,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Primecap Management Co. CA grew its position in MarketAxess by 42.4% in the 4th quarter. Primecap Management Co. CA now owns 3,175,425 shares of the financial services provider’s stock worth $575,546,000 after purchasing an additional 944,830 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of MarketAxess by 6.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,948,633 shares of the financial services provider’s stock valued at $339,549,000 after acquiring an additional 119,036 shares in the last quarter. State Street Corp boosted its position in shares of MarketAxess by 4.6% during the 2nd quarter. State Street Corp now owns 1,532,696 shares of the financial services provider’s stock valued at $342,312,000 after acquiring an additional 67,290 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of MarketAxess by 25.4% during the 3rd quarter. AQR Capital Management LLC now owns 951,088 shares of the financial services provider’s stock valued at $165,727,000 after acquiring an additional 192,626 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of MarketAxess by 5,086.4% during the 4th quarter. Bank of Montreal Can now owns 951,024 shares of the financial services provider’s stock valued at $172,373,000 after acquiring an additional 932,687 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings lowered shares of MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Barclays decreased their target price on shares of MarketAxess from $189.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. Rothschild & Co Redburn reiterated a “neutral” rating and set a $134.00 target price (down from $189.00) on shares of MarketAxess in a research report on Thursday. Keefe, Bruyette & Woods assumed coverage on shares of MarketAxess in a research report on Wednesday, April 8th. They set an “outperform” rating and a $195.00 target price on the stock. Finally, Argus lowered shares of MarketAxess from a “buy” rating to a “hold” rating in a research report on Tuesday, March 17th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $183.10.

MarketAxess Trading Up 3.9%

Shares of MKTX stock opened at $120.89 on Friday. MarketAxess Holdings Inc. has a 12-month low of $113.29 and a 12-month high of $228.16. The company has a market capitalization of $4.30 billion, a P/E ratio of 14.29, a P/E/G ratio of 3.91 and a beta of 0.86. The firm has a 50-day moving average price of $147.78 and a 200 day moving average price of $165.33. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.19.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings results on Thursday, May 7th. The financial services provider reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.10. The firm had revenue of $233.38 million during the quarter, compared to the consensus estimate of $231.91 million. MarketAxess had a net margin of 35.53% and a return on equity of 22.28%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $1.87 EPS. Research analysts forecast that MarketAxess Holdings Inc. will post 8.02 earnings per share for the current fiscal year.

MarketAxess Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 20th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $3.12 annualized dividend and a dividend yield of 2.6%. MarketAxess’s dividend payout ratio (DPR) is presently 36.88%.

About MarketAxess

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.