MarketAxess (NASDAQ:MKTX) Posts Quarterly Earnings Results, Beats Estimates By $0.15 EPS

MarketAxess (NASDAQ:MKTX) announced its quarterly earnings data on Friday. The financial services provider reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.15, Zacks reports. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The business had revenue of $208.82 million during the quarter, compared to analyst estimates of $212.59 million. During the same quarter in the prior year, the business earned $1.90 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis.

MarketAxess Price Performance

Shares of NASDAQ:MKTX traded up $1.52 during trading on Friday, reaching $167.27. The stock had a trading volume of 1,109,992 shares, compared to its average volume of 669,273. The stock has a market capitalization of $6.25 billion, a PE ratio of 28.16, a P/E/G ratio of 6.44 and a beta of 0.94. MarketAxess has a 52 week low of $156.17 and a 52 week high of $277.84. The business’s 50-day moving average price is $174.16 and its 200 day moving average price is $199.18.

MarketAxess Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 19th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.04 annualized dividend and a dividend yield of 1.8%. MarketAxess’s dividend payout ratio (DPR) is presently 51.18%.

Insider Buying and Selling at MarketAxess

In other news, CRO Kevin M. Mcpherson sold 1,494 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $185.32, for a total transaction of $276,868.08. Following the sale, the executive owned 67,681 shares in the company, valued at approximately $12,542,642.92. This represents a 2.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen P. Casper sold 1,600 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $186.59, for a total transaction of $298,544.00. Following the transaction, the director owned 43,208 shares in the company, valued at approximately $8,062,180.72. This trade represents a 3.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.65% of the company’s stock.

Institutional Trading of MarketAxess

A number of hedge funds and other institutional investors have recently modified their holdings of MKTX. Sivia Capital Partners LLC acquired a new stake in shares of MarketAxess in the 2nd quarter valued at $406,000. Caxton Associates LLP acquired a new position in shares of MarketAxess during the second quarter valued at $703,000. Woodline Partners LP boosted its holdings in MarketAxess by 40.7% in the first quarter. Woodline Partners LP now owns 3,185 shares of the financial services provider’s stock valued at $689,000 after acquiring an additional 921 shares during the last quarter. Jones Financial Companies Lllp increased its position in MarketAxess by 151.0% in the first quarter. Jones Financial Companies Lllp now owns 2,683 shares of the financial services provider’s stock worth $580,000 after purchasing an additional 1,614 shares during the period. Finally, Corient Private Wealth LLC bought a new stake in MarketAxess during the 2nd quarter worth about $494,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MKTX. Zacks Research downgraded MarketAxess from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Barclays reduced their target price on MarketAxess from $200.00 to $186.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Argus raised shares of MarketAxess from a “hold” rating to a “buy” rating and set a $212.00 price target on the stock in a report on Monday, August 25th. Wall Street Zen upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Morgan Stanley decreased their target price on shares of MarketAxess from $274.00 to $253.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, MarketAxess has an average rating of “Hold” and a consensus target price of $216.58.

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.