Flossbach Von Storch SE Acquires Shares of 75,000 MarketAxess Holdings Inc. $MKTX

Flossbach Von Storch SE acquired a new stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 75,000 shares of the financial services provider’s stock, valued at approximately $8,512,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in MarketAxess during the second quarter worth $453,941,000. Primecap Management Co. CA raised its stake in shares of MarketAxess by 42.4% in the fourth quarter. Primecap Management Co. CA now owns 3,175,425 shares of the financial services provider’s stock valued at $575,546,000 after acquiring an additional 944,830 shares during the period. AQR Capital Management LLC raised its stake in shares of MarketAxess by 169.0% in the fourth quarter. AQR Capital Management LLC now owns 2,558,097 shares of the financial services provider’s stock valued at $463,655,000 after acquiring an additional 1,607,009 shares during the period. North Reef Capital Management LP lifted its holdings in shares of MarketAxess by 16.5% in the 1st quarter. North Reef Capital Management LP now owns 1,875,000 shares of the financial services provider’s stock worth $309,338,000 after acquiring an additional 265,670 shares during the last quarter. Finally, State Street Corp lifted 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 worth $342,312,000 after acquiring an additional 67,290 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

MarketAxess Stock Performance

Shares of NASDAQ:MKTX opened at $161.74 on Thursday. The firm’s 50 day simple moving average is $130.28 and its 200-day simple moving average is $150.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.85 and a current ratio of 1.85. MarketAxess Holdings Inc. has a one year low of $108.75 and a one year high of $195.96. The firm has a market cap of $5.69 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 2.03 and a beta of 0.83.

MarketAxess (NASDAQ:MKTX) last announced its quarterly earnings data 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 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%.MarketAxess’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.00 earnings per share. As a group, equities analysts predict that MarketAxess Holdings Inc. will post 8.06 EPS for the current year.

MarketAxess Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on MKTX. Wall Street Zen cut MarketAxess from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Benchmark reissued a “buy” rating on shares of MarketAxess in a research note on Wednesday, July 8th. William Blair cut MarketAxess from an “outperform” rating to a “market perform” rating in a report on Thursday, July 30th. Bank of America raised MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 price objective on the stock in a research report on Friday, June 12th. Finally, Piper Sandler reduced 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 analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $156.10.

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.