Primecap Management Co. CA Takes Position in MarketAxess Holdings Inc. $MKTX

Primecap Management Co. CA bought a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) in the 2nd quarter, HoldingsChannel reports. The fund bought 3,504,905 shares of the financial services provider’s stock, valued at approximately $397,772,000. Primecap Management Co. CA owned about 0.10% of MarketAxess at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MKTX. Amundi lifted its position in shares of MarketAxess by 803.9% during the first quarter. Amundi now owns 258,708 shares of the financial services provider’s stock valued at $42,682,000 after purchasing an additional 230,087 shares in the last quarter. Hsbc Holdings PLC grew its position in MarketAxess by 638.7% in the 1st quarter. Hsbc Holdings PLC now owns 21,009 shares of the financial services provider’s stock worth $3,472,000 after purchasing an additional 18,165 shares in the last quarter. Bank of America Corp DE grew its position in MarketAxess by 32.4% in the 1st quarter. Bank of America Corp DE now owns 263,858 shares of the financial services provider’s stock worth $43,531,000 after purchasing an additional 64,627 shares in the last quarter. Polar Asset Management Partners Inc. grew its position in MarketAxess by 523.8% in the 1st quarter. Polar Asset Management Partners Inc. now owns 104,174 shares of the financial services provider’s stock worth $17,187,000 after purchasing an additional 87,474 shares in the last quarter. Finally, BlackRock Inc. purchased a new stake in MarketAxess in the 2nd quarter valued at about $453,941,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group cut their target price on MarketAxess from $168.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Rothschild & Co Redburn reaffirmed a “neutral” rating and set a $134.00 price target (down from $189.00) on shares of MarketAxess in a research report on Thursday, June 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of MarketAxess in a report on Monday, August 3rd. William Blair cut MarketAxess from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 30th. Finally, Piper Sandler reduced their price objective on MarketAxess from $175.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $156.10.

MarketAxess Stock Up 0.0%

MKTX opened at $162.50 on Wednesday. MarketAxess Holdings Inc. has a twelve month low of $108.75 and a twelve month high of $195.96. The company’s 50-day moving average price is $133.60 and its two-hundred day moving average price is $150.75. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 2.07 and a beta of 0.83. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.09.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.10. The company had revenue of $218.41 million during the quarter, compared to analyst estimates of $216.70 million. MarketAxess had a net margin of 35.22% and a return on equity of 22.48%. MarketAxess’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $2.00 EPS. As a group, equities analysts expect that MarketAxess Holdings Inc. will post 8.06 earnings per share for the current year.

MarketAxess Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, August 19th. MarketAxess’s dividend payout ratio is 36.79%.

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.