Parvin Asset Management LLC Makes New $616,000 Investment in MarketAxess Holdings Inc. $MKTX

Parvin Asset Management LLC purchased a new stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,425 shares of the financial services provider’s stock, valued at approximately $616,000.

A number of other large investors have also made changes to their positions in MKTX. BlackRock Inc. bought a new stake in MarketAxess during the 2nd quarter worth approximately $453,941,000. Primecap Management Co. CA acquired a new stake in shares of MarketAxess in the second quarter valued at about $397,772,000. AQR Capital Management LLC increased its position in shares of MarketAxess by 169.0% during the 4th quarter. AQR Capital Management LLC now owns 2,558,097 shares of the financial services provider’s stock worth $463,655,000 after purchasing an additional 1,607,009 shares during the last quarter. North Reef Capital Management LP increased its holdings in MarketAxess by 16.5% during the first quarter. North Reef Capital Management LP now owns 1,875,000 shares of the financial services provider’s stock worth $309,338,000 after buying an additional 265,670 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of MarketAxess by 4.6% in the 2nd quarter. State Street Corp now owns 1,532,696 shares of the financial services provider’s stock valued at $342,312,000 after purchasing an additional 67,290 shares during the period. Institutional investors own 99.01% of the company’s stock.

Wall Street Analyst Weigh In

MKTX has been the topic of a number of recent analyst reports. Rothschild & Co Redburn reissued a “neutral” rating and issued a $134.00 price target (down from $189.00) on shares of MarketAxess in a report on Thursday, June 11th. Barclays boosted their price objective on shares of MarketAxess from $132.00 to $167.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. UBS Group lowered MarketAxess from a “buy” rating to a “neutral” rating and dropped their price target for the company from $200.00 to $167.00 in a research report on Friday, July 31st. William Blair downgraded MarketAxess from an “outperform” rating to a “market perform” rating in a report on Thursday, July 30th. Finally, Piper Sandler cut their target price on MarketAxess from $175.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $156.10.

MarketAxess Stock Up 0.0%

NASDAQ MKTX opened at $162.52 on Thursday. MarketAxess Holdings Inc. has a 52 week low of $108.75 and a 52 week high of $195.96. The company has a market capitalization of $5.72 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83. The stock’s 50-day moving average price is $134.45 and its 200-day moving average price is $150.74. 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 posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.10. The business had revenue of $218.41 million for the quarter, compared to analysts’ expectations of $216.70 million. MarketAxess had a return on equity of 22.48% and a net margin of 35.22%.The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $2.00 earnings per share. On average, equities research analysts predict that MarketAxess Holdings Inc. will post 8.06 earnings per share for the current year.

MarketAxess Dividend Announcement

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

About MarketAxess

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.