Kodai Capital Management LP Has $16.86 Million Stake in MarketAxess Holdings Inc. $MKTX

Kodai Capital Management LP trimmed its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 43.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,944 shares of the financial services provider’s stock after selling 59,147 shares during the period. Kodai Capital Management LP owned 0.21% of MarketAxess worth $16,863,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of MarketAxess by 49.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 54 shares during the period. UMB Bank n.a. increased its stake in shares of MarketAxess by 57.4% during the first quarter. UMB Bank n.a. now owns 222 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 81 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of MarketAxess during the first quarter worth approximately $56,000. Intact Investment Management Inc. bought a new position in shares of MarketAxess during the first quarter worth approximately $65,000. Finally, Signaturefd LLC increased its stake in MarketAxess by 173.0% during the 1st quarter. Signaturefd LLC now owns 333 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 211 shares during the period. Institutional investors own 99.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on MKTX. Wall Street Zen upgraded MarketAxess from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Morgan Stanley lowered their price objective on MarketAxess from $283.00 to $274.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 15th. Barclays lowered their price objective on MarketAxess from $237.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 7th. Keefe, Bruyette & Woods raised their price objective on MarketAxess from $223.00 to $226.00 and gave the stock a “market perform” rating in a research note on Thursday, May 8th. Finally, Jefferies Financial Group decreased their price target on MarketAxess from $217.00 to $208.00 and set a “hold” rating on the stock in a research note on Monday, August 11th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, MarketAxess has a consensus rating of “Hold” and a consensus target price of $228.09.

MarketAxess Stock Down 2.6%

NASDAQ MKTX opened at $182.55 on Friday. MarketAxess Holdings Inc. has a twelve month low of $182.15 and a twelve month high of $296.68. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 3.63 and a beta of 0.84. The business’s fifty day moving average is $205.94 and its 200 day moving average is $210.93.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.06. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The company had revenue of $219.46 million for the quarter, compared to the consensus estimate of $218.05 million. During the same quarter last year, the business posted $1.72 EPS. MarketAxess’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts anticipate that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $3.04 annualized dividend and a dividend yield of 1.7%. MarketAxess’s dividend payout ratio (DPR) is 51.18%.

About MarketAxess

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.