MarketAxess (NASDAQ:MKTX) General Counsel Sells 100 Shares of Stock

MarketAxess Holdings Inc. (NASDAQ:MKTX) General Counsel Scott Pintoff sold 100 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $162.60, for a total transaction of $16,260.00. Following the completion of the transaction, the general counsel owned 11,586 shares in the company, valued at $1,883,883.60. The trade was a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Scott Pintoff also recently made the following trade(s):

• On Friday, July 10th, Scott Pintoff sold 100 shares of MarketAxess stock. The shares were sold at an average price of $115.12, for a total transaction of $11,512.00.
• On Wednesday, June 10th, Scott Pintoff sold 100 shares of MarketAxess stock. The stock was sold at an average price of $116.03, for a total value of $11,603.00.

MarketAxess Stock Performance

MarketAxess stock traded down $0.03 during trading on Monday, reaching $162.50. The company had a trading volume of 999,605 shares, compared to its average volume of 699,286. MarketAxess Holdings Inc. has a 52 week low of $108.75 and a 52 week high of $195.96. The firm’s 50-day simple moving average is $123.51 and its 200 day simple moving average is $151.27. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 4.12 and a beta of 0.83. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.19.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.10. The business had revenue of $218.41 million during the quarter, compared to analyst estimates of $216.70 million. MarketAxess had a return on equity of 22.48% and a net margin of 35.22%.MarketAxess’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.00 earnings per share. Sell-side analysts forecast that MarketAxess Holdings Inc. will post 8.04 earnings per share for the current fiscal year.

MarketAxess Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MKTX. Flossbach Von Storch SE bought a new stake in MarketAxess in the 2nd quarter valued at $8,512,000. Citizens Financial Group Inc. RI bought a new position in shares of MarketAxess during the 2nd quarter valued at about $374,000. BlackRock Inc. purchased a new position in shares of MarketAxess during the second quarter valued at about $453,941,000. Deutsche Bank AG purchased a new position in shares of MarketAxess during the second quarter valued at about $452,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of MarketAxess in the second quarter worth about $29,240,000. 99.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on MKTX. Wall Street Zen downgraded shares of MarketAxess from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. UBS Group cut shares of MarketAxess from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $200.00 to $167.00 in a research note on Friday, July 31st. Morgan Stanley lowered their target price on shares of MarketAxess from $195.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. The Goldman Sachs Group dropped their target price on shares of MarketAxess from $168.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Finally, Piper Sandler cut their price target on MarketAxess from $175.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $163.36.

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.