Van Den Berg Management I Inc. Has $5.91 Million Stake in MarketAxess Holdings Inc. $MKTX

Van Den Berg Management I Inc. lifted its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 65.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 52,054 shares of the financial services provider’s stock after purchasing an additional 20,631 shares during the quarter. Van Den Berg Management I Inc.’s holdings in MarketAxess were worth $5,908,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. MUFG Securities EMEA plc acquired a new position in MarketAxess in the second quarter valued at about $25,000. Geneos Wealth Management Inc. raised its position in shares of MarketAxess by 200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after buying an additional 80 shares in the last quarter. Activest Wealth Management bought a new stake in shares of MarketAxess during the 4th quarter worth approximately $28,000. Versant Capital Management Inc boosted its position in shares of MarketAxess by 215.3% during the 2nd quarter. Versant Capital Management Inc now owns 391 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 267 shares in the last quarter. Finally, State of Wyoming bought a new position in MarketAxess in the second quarter valued at approximately $49,000. Institutional investors own 99.01% of the company’s stock.

Wall Street Analyst Weigh In

MKTX has been the subject of several recent analyst reports. Morgan Stanley cut their target price on MarketAxess from $195.00 to $129.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of MarketAxess in a report on Monday, August 3rd. Piper Sandler reduced their price target on shares of MarketAxess from $175.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Benchmark reaffirmed a “buy” rating on shares of MarketAxess in a report on Wednesday, July 8th. Finally, Rothschild & Co Redburn reiterated a “neutral” rating and set a $134.00 price objective (down from $189.00) on shares of MarketAxess in a research report on Thursday, June 11th. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $156.10.

MarketAxess Price Performance

Shares of MKTX opened at $162.72 on Friday. MarketAxess Holdings Inc. has a 12-month low of $108.75 and a 12-month high of $195.96. The business has a 50-day simple moving average of $136.14 and a two-hundred day simple moving average of $150.83. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.09. The stock has a market cap of $5.73 billion, a PE ratio of 19.19, a PEG ratio of 2.07 and a beta of 0.83.

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

MarketAxess Announces Dividend

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

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.