Cibc World Market Inc. Buys New Position in MarketAxess Holdings Inc. $MKTX

Cibc World Market Inc. purchased a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 78,286 shares of the financial services provider’s stock, valued at approximately $8,885,000. Cibc World Market Inc. owned about 0.22% of MarketAxess at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its position in shares of MarketAxess by 151.0% in the 1st quarter. Jones Financial Companies Lllp now owns 2,683 shares of the financial services provider’s stock worth $580,000 after buying an additional 1,614 shares in the last quarter. Empowered Funds LLC increased its holdings in MarketAxess by 8.4% during the 1st quarter. Empowered Funds LLC now owns 1,716 shares of the financial services provider’s stock valued at $371,000 after acquiring an additional 133 shares in the last quarter. Woodline Partners LP raised its position in MarketAxess by 40.7% during the first quarter. Woodline Partners LP now owns 3,185 shares of the financial services provider’s stock worth $689,000 after acquiring an additional 921 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of MarketAxess by 200.0% in the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 80 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in shares of MarketAxess in the second quarter valued at approximately $406,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Trading Up 0.0%

NASDAQ MKTX opened at $162.50 on Wednesday. The company has a market cap of $5.72 billion, a P/E ratio of 19.16, a P/E/G ratio of 2.07 and a beta of 0.83. MarketAxess Holdings Inc. has a 12 month low of $108.75 and a 12 month high of $195.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.85 and a quick ratio of 1.85. The company has a 50-day moving average of $133.60 and a 200-day moving average of $150.75.

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

MarketAxess Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MKTX. UBS Group downgraded MarketAxess from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $200.00 to $167.00 in a research report on Friday, July 31st. Morgan Stanley dropped their price target on MarketAxess from $195.00 to $129.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of MarketAxess in a report on Monday, August 3rd. William Blair downgraded MarketAxess from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 30th. Finally, Barclays lifted their price objective on MarketAxess from $132.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $156.10.

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.