Mirae Asset Global Investments Co. Ltd. Boosts Holdings in MarketAxess Holdings Inc. $MKTX

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 3.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,805 shares of the financial services provider’s stock after acquiring an additional 177 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in MarketAxess were worth $1,073,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MKTX. Lecap Asset Management Ltd. grew its holdings in shares of MarketAxess by 53.9% in the second quarter. Lecap Asset Management Ltd. now owns 8,458 shares of the financial services provider’s stock valued at $1,889,000 after purchasing an additional 2,964 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of MarketAxess by 26.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 75,000 shares of the financial services provider’s stock valued at $16,750,000 after purchasing an additional 15,685 shares in the last quarter. Truist Financial Corp grew its holdings in shares of MarketAxess by 2.6% in the second quarter. Truist Financial Corp now owns 8,638 shares of the financial services provider’s stock valued at $1,929,000 after purchasing an additional 222 shares in the last quarter. Campbell Newman Asset Management Inc. grew its holdings in shares of MarketAxess by 7.1% in the second quarter. Campbell Newman Asset Management Inc. now owns 3,535 shares of the financial services provider’s stock valued at $790,000 after purchasing an additional 233 shares in the last quarter. Finally, HB Wealth Management LLC grew its holdings in shares of MarketAxess by 25.3% in the second quarter. HB Wealth Management LLC now owns 1,736 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 351 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

MarketAxess Stock Performance

Shares of MarketAxess stock opened at $172.23 on Friday. MarketAxess Holdings Inc. has a one year low of $161.61 and a one year high of $296.68. The company has a market capitalization of $6.43 billion, a PE ratio of 28.99, a P/E/G ratio of 3.35 and a beta of 0.89. The company has a 50-day simple moving average of $183.80 and a two-hundred day simple moving average of $206.22.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 EPS for the quarter, topping the consensus estimate of $1.94 by $0.06. The business had revenue of $219.46 million for the quarter, compared to analyst estimates of $218.05 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.72 EPS. On average, equities analysts predict that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

MarketAxess Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.76 per share. The ex-dividend date was Wednesday, August 20th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.8%. MarketAxess’s dividend payout ratio is currently 51.18%.

Insiders Place Their Bets

In other news, CRO Kevin M. Mcpherson sold 1,494 shares of MarketAxess stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $185.32, for a total value of $276,868.08. Following the completion of the transaction, the executive owned 67,681 shares in the company, valued at approximately $12,542,642.92. This trade represents a 2.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen P. Casper sold 1,600 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $186.59, for a total value of $298,544.00. Following the sale, the director directly owned 43,208 shares in the company, valued at $8,062,180.72. This trade represents a 3.57% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MKTX shares. Weiss Ratings reissued a “hold (c-)” rating on shares of MarketAxess in a report on Wednesday. Wall Street Zen raised shares of MarketAxess from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Morgan Stanley dropped their price objective on shares of MarketAxess from $274.00 to $253.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. UBS Group dropped their price objective on shares of MarketAxess from $255.00 to $240.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Argus raised shares of MarketAxess from a “hold” rating to a “buy” rating and set a $212.00 price objective for the company in a research note on Monday, August 25th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, MarketAxess currently has a consensus rating of “Hold” and an average price target of $223.55.

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.