State of Alaska Department of Revenue Grows Stock Position in MarketAxess Holdings Inc. $MKTX

State of Alaska Department of Revenue boosted its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 346.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,800 shares of the financial services provider’s stock after buying an additional 14,585 shares during the quarter. State of Alaska Department of Revenue’s holdings in MarketAxess were worth $3,275,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of MarketAxess by 485.6% during the 2nd quarter. AQR Capital Management LLC now owns 758,462 shares of the financial services provider’s stock worth $167,195,000 after purchasing an additional 628,954 shares during the period. Norges Bank purchased a new stake in MarketAxess in the 2nd quarter worth about $114,593,000. American Century Companies Inc. lifted its stake in MarketAxess by 119.1% in the second quarter. American Century Companies Inc. now owns 487,197 shares of the financial services provider’s stock worth $108,811,000 after purchasing an additional 264,855 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of MarketAxess by 181.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 250,037 shares of the financial services provider’s stock valued at $55,843,000 after buying an additional 161,115 shares during the period. Finally, Bank of Nova Scotia grew its stake in shares of MarketAxess by 535.8% during the second quarter. Bank of Nova Scotia now owns 108,481 shares of the financial services provider’s stock valued at $24,228,000 after buying an additional 91,419 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays decreased their price target on MarketAxess from $188.00 to $182.00 and set an “equal weight” rating for the company in a research note on Thursday. Weiss Ratings reiterated a “sell (d+)” rating on shares of MarketAxess in a research report on Monday, December 29th. Loop Capital set a $164.00 price target on shares of MarketAxess in a report on Tuesday, October 14th. Zacks Research raised shares of MarketAxess from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of MarketAxess from $194.00 to $198.00 and gave the company a “market perform” rating in a research report on Monday, November 10th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $202.91.

MarketAxess Price Performance

MKTX stock opened at $170.10 on Tuesday. MarketAxess Holdings Inc. has a 1-year low of $156.17 and a 1-year high of $232.84. The business has a 50-day moving average price of $172.42 and a 200 day moving average price of $183.43. The company has a market capitalization of $6.32 billion, a P/E ratio of 28.93, a PEG ratio of 5.64 and a beta of 0.97.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Friday, November 7th. The financial services provider reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.15. MarketAxess had a net margin of 26.16% and a return on equity of 20.20%. The business had revenue of $208.82 million for the quarter, compared to the consensus estimate of $212.59 million. During the same quarter last year, the firm posted $1.90 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts anticipate that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 19th were issued a dividend of $0.76 per share. The ex-dividend date was Wednesday, November 19th. This represents a $3.04 dividend on an annualized basis and a yield of 1.8%. MarketAxess’s dividend payout ratio is currently 51.70%.

MarketAxess Profile

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.