Bangor Savings Bank Sells 71 Shares of MarketAxess Holdings Inc. $MKTX

Bangor Savings Bank decreased its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,303 shares of the financial services provider’s stock after selling 71 shares during the quarter. Bangor Savings Bank’s holdings in MarketAxess were worth $1,408,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Comerica Bank lifted its holdings in MarketAxess by 0.9% during the 1st quarter. Comerica Bank now owns 5,181 shares of the financial services provider’s stock worth $1,121,000 after buying an additional 48 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in MarketAxess by 49.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider’s stock worth $35,000 after buying an additional 54 shares in the last quarter. State of Wyoming lifted its holdings in MarketAxess by 13.6% during the 4th quarter. State of Wyoming now owns 483 shares of the financial services provider’s stock worth $109,000 after buying an additional 58 shares in the last quarter. Federated Hermes Inc. lifted its holdings in MarketAxess by 13.0% during the 1st quarter. Federated Hermes Inc. now owns 522 shares of the financial services provider’s stock worth $113,000 after buying an additional 60 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in MarketAxess by 19.6% during the 1st quarter. IFP Advisors Inc now owns 446 shares of the financial services provider’s stock worth $97,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

Wall Street Analyst Weigh In

MKTX has been the topic of several research reports. Morgan Stanley reduced their price objective on MarketAxess from $283.00 to $274.00 and set an “overweight” rating on the stock in a report on Tuesday, July 15th. Wall Street Zen raised MarketAxess from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Argus raised MarketAxess from a “hold” rating to a “buy” rating and set a $212.00 price target on the stock in a research note on Monday, August 25th. UBS Group cut their price target on MarketAxess from $295.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Finally, Piper Sandler reissued a “neutral” rating and issued a $204.00 price target (up previously from $202.00) on shares of MarketAxess in a research note on Tuesday, July 15th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $228.09.

MarketAxess Stock Down 1.9%

MKTX opened at $184.85 on Friday. MarketAxess Holdings Inc. has a 12 month low of $178.20 and a 12 month high of $296.68. The company has a fifty day simple moving average of $197.83 and a 200 day simple moving average of $210.39. The stock has a market cap of $6.91 billion, a P/E ratio of 31.12, a P/E/G ratio of 3.65 and a beta of 0.88.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.06. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The business had revenue of $219.46 million during the quarter, compared to analysts’ expectations of $218.05 million. During the same quarter in the prior year, the company earned $1.72 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities research analysts expect 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 was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were given a $0.76 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.6%. MarketAxess’s dividend payout ratio is currently 51.18%.

Insider Activity at MarketAxess

In related news, Director Stephen P. Casper sold 1,600 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $186.59, for a total value of $298,544.00. Following the completion of the sale, the director owned 43,208 shares in the company, valued at $8,062,180.72. This represents a 3.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is currently owned by corporate insiders.

MarketAxess Company Profile

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.