Kingsview Wealth Management LLC Acquires New Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Kingsview Wealth Management LLC purchased a new stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 35,878 shares of the financial services provider’s stock, valued at approximately $7,866,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MKTX. Vanguard Group Inc. increased its position in shares of MarketAxess by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,526,422 shares of the financial services provider’s stock worth $1,325,563,000 after purchasing an additional 34,197 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of MarketAxess by 21.2% during the 1st quarter. Van ECK Associates Corp now owns 1,657,960 shares of the financial services provider’s stock worth $363,508,000 after purchasing an additional 290,347 shares during the period. Primecap Management Co. CA lifted its stake in MarketAxess by 0.4% during the fourth quarter. Primecap Management Co. CA now owns 1,122,560 shares of the financial services provider’s stock worth $328,742,000 after purchasing an additional 4,340 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of MarketAxess by 40.0% in the first quarter. Wasatch Advisors LP now owns 716,689 shares of the financial services provider’s stock valued at $157,134,000 after buying an additional 204,660 shares in the last quarter. Finally, Norges Bank acquired a new position in MarketAxess in the 4th quarter valued at about $128,535,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Stock Performance

MKTX traded down $1.48 during trading on Friday, reaching $219.81. The company’s stock had a trading volume of 255,720 shares, compared to its average volume of 426,978. The company’s fifty day moving average price is $205.12 and its 200-day moving average price is $220.40. MarketAxess Holdings Inc. has a 52-week low of $192.42 and a 52-week high of $297.97. The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 5.95 and a beta of 1.03.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.07. MarketAxess had a return on equity of 20.82% and a net margin of 33.83%. The firm had revenue of $210.30 million for the quarter, compared to the consensus estimate of $212.99 million. During the same period in the previous year, the business earned $1.96 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts predict that MarketAxess Holdings Inc. will post 7.01 earnings per share for the current year.

MarketAxess Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were paid a dividend of $0.74 per share. The ex-dividend date was Tuesday, May 21st. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.35%. MarketAxess’s dividend payout ratio (DPR) is presently 43.47%.

Wall Street Analyst Weigh In

MKTX has been the topic of several recent research reports. Morgan Stanley upped their price target on MarketAxess from $278.00 to $279.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. StockNews.com upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a research note on Tuesday. UBS Group dropped their price objective on shares of MarketAxess from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Bank of America started coverage on shares of MarketAxess in a research report on Wednesday, April 10th. They set an “underperform” rating and a $199.00 price objective for the company. Finally, Piper Sandler dropped their target price on MarketAxess from $230.00 to $225.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $241.00.

Insider Activity

In other news, Director Stephen P. Casper sold 500 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $199.48, for a total transaction of $99,740.00. Following the sale, the director now owns 10,201 shares of the company’s stock, valued at approximately $2,034,895.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.66% of the company’s stock.

About MarketAxess

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.