Primecap Management Co. CA reduced its position in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 7.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 724,220 shares of the financial services provider’s stock after selling 56,000 shares during the quarter. Primecap Management Co. CA’s holdings in MarketAxess were worth $178,216,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Executive Wealth Management LLC bought a new stake in shares of MarketAxess in the 4th quarter worth $27,000. Berman Capital Advisors LLC acquired a new stake in shares of MarketAxess during the fourth quarter worth $30,000. Enlightenment Research LLC acquired a new stake in shares of MarketAxess during the fourth quarter worth $42,000. Pearl River Capital LLC acquired a new stake in shares of MarketAxess during the fourth quarter worth $43,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of MarketAxess during the first quarter worth $54,000. 99.19% of the stock is owned by institutional investors and hedge funds.
Shares of MKTX stock traded up $2.37 on Friday, reaching $320.04. 2,542 shares of the company’s stock traded hands, compared to its average volume of 466,133. MarketAxess Holdings Inc. has a 12-month low of $172.09 and a 12-month high of $342.98. The company has a current ratio of 10.82, a quick ratio of 10.82 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $12.26 billion, a price-to-earnings ratio of 69.58, a P/E/G ratio of 12.56 and a beta of 0.19.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.64%. MarketAxess’s dividend payout ratio is 44.64%.
In other MarketAxess news, CEO Richard M. Mcvey sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $281.14, for a total value of $5,622,800.00. Following the transaction, the chief executive officer now owns 1,006,289 shares in the company, valued at $282,908,089.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Themelis sold 1,489 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $265.61, for a total value of $395,493.29. Following the completion of the transaction, the insider now owns 53,564 shares in the company, valued at approximately $14,227,134.04. The disclosure for this sale can be found here. Insiders have sold 27,591 shares of company stock worth $7,719,158 in the last quarter. 3.52% of the stock is currently owned by corporate insiders.
MKTX has been the topic of a number of recent analyst reports. BidaskClub lowered MarketAxess from a “strong-buy” rating to a “buy” rating in a research report on Friday. Zacks Investment Research raised MarketAxess from a “sell” rating to a “hold” rating in a research report on Saturday, April 13th. Rosenblatt Securities initiated coverage on MarketAxess in a research report on Monday, April 15th. They set a “neutral” rating and a $255.00 target price on the stock. Buckingham Research lowered MarketAxess from a “neutral” rating to an “underperform” rating and set a $245.00 target price on the stock. in a research report on Wednesday. Finally, Barclays boosted their target price on MarketAxess from $218.00 to $244.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. MarketAxess presently has an average rating of “Hold” and an average price target of $234.14.
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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 firms the access to global liquidity in U.S.
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