Cibc World Market Inc. Makes New Investment in MarketAxess Holdings Inc. $MKTX

Cibc World Market Inc. acquired a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 78,286 shares of the financial services provider’s stock, valued at approximately $8,885,000.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MKTX shares. Piper Sandler reduced their price target on MarketAxess from $175.00 to $128.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen lowered MarketAxess from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. The Goldman Sachs Group decreased their target price on shares of MarketAxess from $168.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. 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. Finally, Rothschild & Co Redburn restated a “neutral” rating and set a $134.00 price target (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 given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $156.10.

MarketAxess Trading Up 0.0%

MarketAxess stock opened at $162.50 on Wednesday. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83. MarketAxess Holdings Inc. has a 1 year low of $108.75 and a 1 year high of $195.96. The firm’s 50 day moving average price is $133.60 and its two-hundred day moving average price is $150.75. 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 (NASDAQ:MKTX) last posted its quarterly earnings data 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 net margin of 35.22% and a return on equity of 22.48%. The firm 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 company posted $2.00 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts predict that MarketAxess Holdings Inc. will post 8.06 EPS for the current fiscal year.

MarketAxess Dividend Announcement

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