Centaurus Financial Inc. Raises Stake in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Centaurus Financial Inc. grew its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 135.4% in the second quarter, Holdings Channel reports. The firm owned 1,005 shares of the financial services provider’s stock after acquiring an additional 578 shares during the period. Centaurus Financial Inc.’s holdings in MarketAxess were worth $466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of MarketAxess by 13.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,040 shares of the financial services provider’s stock valued at $3,264,000 after purchasing an additional 811 shares during the period. Duality Advisers LP boosted its stake in shares of MarketAxess by 219.3% during the second quarter. Duality Advisers LP now owns 3,937 shares of the financial services provider’s stock valued at $1,825,000 after purchasing an additional 2,704 shares during the period. Lloyd Advisory Services LLC. boosted its stake in shares of MarketAxess by 50.0% during the second quarter. Lloyd Advisory Services LLC. now owns 72 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 24 shares during the period. Vestmark Advisory Solutions Inc. boosted its stake in shares of MarketAxess by 15.6% during the second quarter. Vestmark Advisory Solutions Inc. now owns 1,548 shares of the financial services provider’s stock valued at $718,000 after purchasing an additional 209 shares during the period. Finally, Penobscot Investment Management Company Inc. boosted its stake in shares of MarketAxess by 14.1% during the second quarter. Penobscot Investment Management Company Inc. now owns 2,020 shares of the financial services provider’s stock valued at $936,000 after purchasing an additional 250 shares during the period. 94.39% of the stock is owned by hedge funds and other institutional investors.

In related news, General Counsel Scott Pintoff sold 250 shares of the company’s stock in a transaction that occurred on Monday, August 9th. The stock was sold at an average price of $487.05, for a total value of $121,762.50. Following the sale, the general counsel now owns 5,973 shares in the company, valued at $2,909,149.65. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard M. Mcvey sold 12,117 shares of the company’s stock in a transaction that occurred on Monday, August 9th. The stock was sold at an average price of $484.74, for a total value of $5,873,594.58. Following the completion of the sale, the chief executive officer now owns 772,739 shares in the company, valued at approximately $374,577,502.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,902 shares of company stock worth $8,631,608. 2.19% of the stock is owned by insiders.

Several research firms recently weighed in on MKTX. Piper Sandler decreased their price objective on MarketAxess from $483.00 to $475.00 and set a “neutral” rating for the company in a report on Wednesday, July 7th. Rosenblatt Securities decreased their price objective on MarketAxess from $625.00 to $569.00 and set a “buy” rating for the company in a report on Thursday, June 3rd. Deutsche Bank Aktiengesellschaft decreased their price objective on MarketAxess from $430.00 to $427.00 and set a “hold” rating for the company in a report on Thursday, July 22nd. Raymond James decreased their price objective on MarketAxess from $580.00 to $530.00 and set an “outperform” rating for the company in a report on Wednesday, July 7th. Finally, Morgan Stanley decreased their price objective on MarketAxess from $500.00 to $470.00 and set an “equal weight” rating for the company in a report on Thursday, July 22nd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $533.38.

MKTX opened at $426.24 on Wednesday. MarketAxess Holdings Inc. has a 52-week low of $420.79 and a 52-week high of $606.45. The company has a market cap of $16.19 billion, a P/E ratio of 56.31 and a beta of 0.36. The firm’s 50-day moving average price is $467.20 and its 200-day moving average price is $479.61.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Tuesday, July 20th. The financial services provider reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.08. MarketAxess had a net margin of 40.79% and a return on equity of 29.87%. The firm had revenue of $176.30 million for the quarter, compared to the consensus estimate of $177.56 million. During the same quarter in the prior year, the company posted $2.20 earnings per share. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, research analysts expect that MarketAxess Holdings Inc. will post 7.36 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 18th. Investors of record on Wednesday, August 4th were given a $0.66 dividend. The ex-dividend date of this dividend was Tuesday, August 3rd. This represents a $2.64 dividend on an annualized basis and a yield of 0.62%. MarketAxess’s dividend payout ratio is currently 33.63%.

About MarketAxess

MarketAxess Holdings, Inc operates as an electronic trading platform that allows investment industry professionals to trade corporate bonds and other types of fixed-income instruments. It also provides data and analytical tools that help its clients to make trading decisions and facilitate the trading process by electronically communicating order information between trading counterparties.

Further Reading: Death Cross

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Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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