First Hawaiian Bank Increases Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)


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First Hawaiian Bank boosted its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 109.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,580 shares of the financial services provider’s stock after acquiring an additional 1,349 shares during the quarter. First Hawaiian Bank’s holdings in MarketAxess were worth $1,472,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smithfield Trust Co. grew its holdings in MarketAxess by 103.7% in the third quarter. Smithfield Trust Co. now owns 55 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 28 shares during the period. Paces Ferry Wealth Advisors LLC bought a new position in shares of MarketAxess in the third quarter worth approximately $27,000. First Horizon Advisors Inc. lifted its stake in shares of MarketAxess by 37.3% in the third quarter. First Horizon Advisors Inc. now owns 70 shares of the financial services provider’s stock worth $33,000 after buying an additional 19 shares in the last quarter. Atlas Private Wealth Management bought a new position in shares of MarketAxess in the third quarter worth approximately $40,000. Finally, TFC Financial Management bought a new position in shares of MarketAxess in the third quarter worth approximately $43,000. Institutional investors and hedge funds own 87.51% of the company’s stock.

Shares of MarketAxess stock opened at $536.32 on Thursday. The company has a market cap of $20.36 billion, a price-to-earnings ratio of 73.87 and a beta of 0.40. The company’s 50 day moving average is $555.95 and its 200 day moving average is $520.63. MarketAxess Holdings Inc. has a twelve month low of $275.49 and a twelve month high of $606.45.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $1.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.04. MarketAxess had a net margin of 42.73% and a return on equity of 33.35%. The business had revenue of $164.00 million for the quarter, compared to the consensus estimate of $138.13 million. During the same period last year, the firm earned $1.42 earnings per share. The company’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, equities research analysts predict that MarketAxess Holdings Inc. will post 7.71 earnings per share for the current fiscal year.

In other MarketAxess news, Director Stephen P. Casper sold 750 shares of the stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $554.96, for a total value of $416,220.00. Following the transaction, the director now directly owns 10,600 shares in the company, valued at $5,882,576. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard M. Mcvey sold 41,000 shares of the stock in a transaction that occurred on Tuesday, December 8th. The stock was sold at an average price of $565.17, for a total transaction of $23,171,970.00. Following the completion of the transaction, the chief executive officer now owns 850,356 shares in the company, valued at $480,595,700.52. The disclosure for this sale can be found here. Insiders sold 69,462 shares of company stock worth $38,841,565 over the last quarter. Insiders own 3.05% of the company’s stock.

Several research analysts have recently issued reports on MKTX shares. BidaskClub downgraded shares of MarketAxess from a “hold” rating to a “sell” rating in a research note on Saturday, January 9th. Loop Capital upped their target price on shares of MarketAxess from $621.00 to $631.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of MarketAxess from $517.00 to $562.00 and gave the stock a “hold” rating in a research note on Wednesday, October 28th. Raymond James reiterated a “buy” rating on shares of MarketAxess in a research note on Monday, October 5th. Finally, Rosenblatt Securities dropped their target price on shares of MarketAxess from $578.00 to $576.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. MarketAxess has an average rating of “Hold” and a consensus price target of $508.73.

MarketAxess Company Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It offers institutional investor and broker-dealer firms the access to global liquidity in U.S.

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Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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