Investment Management Corp of Ontario Reduces Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Investment Management Corp of Ontario lessened its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 16.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,003 shares of the financial services provider’s stock after selling 200 shares during the quarter. Investment Management Corp of Ontario’s holdings in MarketAxess were worth $227,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in MarketAxess during the 4th quarter worth approximately $119,095,000. FMR LLC lifted its position in MarketAxess by 17.4% during the 4th quarter. FMR LLC now owns 2,300,536 shares of the financial services provider’s stock worth $520,013,000 after acquiring an additional 341,493 shares during the period. Congress Asset Management Co. acquired a new stake in MarketAxess during the 4th quarter worth approximately $71,103,000. Van ECK Associates Corp lifted its position in MarketAxess by 13.4% during the 4th quarter. Van ECK Associates Corp now owns 2,000,736 shares of the financial services provider’s stock worth $452,246,000 after acquiring an additional 236,497 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its position in MarketAxess by 11.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,298,409 shares of the financial services provider’s stock worth $519,533,000 after acquiring an additional 236,118 shares during the period. Hedge funds and other institutional investors own 99.01% of the company’s stock.

MarketAxess Stock Performance

Shares of MKTX stock opened at $213.13 on Wednesday. The stock has a fifty day moving average price of $217.17 and a 200 day moving average price of $227.04. The stock has a market cap of $7.93 billion, a PE ratio of 29.32, a P/E/G ratio of 3.89 and a beta of 0.89. MarketAxess Holdings Inc. has a 1 year low of $186.84 and a 1 year high of $296.68.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.05. The firm had revenue of $208.58 million during the quarter, compared to analysts’ expectations of $211.81 million. MarketAxess had a return on equity of 20.23% and a net margin of 33.56%. MarketAxess’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.92 earnings per share. As a group, equities research analysts predict that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

MarketAxess Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.43%. The ex-dividend date is Wednesday, May 21st. MarketAxess’s payout ratio is 52.87%.

Analysts Set New Price Targets

MKTX has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on MarketAxess from $263.00 to $283.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Citigroup raised their price target on MarketAxess from $250.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Barclays raised their price target on MarketAxess from $232.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. UBS Group reduced their price target on MarketAxess from $305.00 to $295.00 and set a “buy” rating for the company in a report on Monday, April 7th. Finally, The Goldman Sachs Group reduced their price target on MarketAxess from $235.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $241.78.

MarketAxess Company Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.