Pine Valley Investments Ltd Liability Co Purchases 369 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Pine Valley Investments Ltd Liability Co boosted its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,304 shares of the financial services provider’s stock after acquiring an additional 369 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in MarketAxess were worth $2,640,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its position in MarketAxess by 405.1% in the second quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 158 shares during the period. Rovin Capital UT ADV increased its position in MarketAxess by 20.4% in the second quarter. Rovin Capital UT ADV now owns 2,748 shares of the financial services provider’s stock worth $551,000 after buying an additional 465 shares in the last quarter. Raymond James & Associates raised its stake in shares of MarketAxess by 0.4% in the second quarter. Raymond James & Associates now owns 202,201 shares of the financial services provider’s stock worth $40,547,000 after buying an additional 789 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of MarketAxess by 0.7% in the second quarter. Nisa Investment Advisors LLC now owns 7,376 shares of the financial services provider’s stock worth $1,479,000 after buying an additional 52 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new position in shares of MarketAxess during the 2nd quarter valued at about $1,540,000. Institutional investors own 99.01% of the company’s stock.

MarketAxess Stock Performance

MKTX stock opened at $236.21 on Friday. The firm has a market cap of $8.91 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 10.54 and a beta of 1.00. The firm has a fifty day moving average price of $271.25 and a 200 day moving average price of $241.49. MarketAxess Holdings Inc. has a fifty-two week low of $192.42 and a fifty-two week high of $297.97.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.05. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The firm had revenue of $206.70 million for the quarter, compared to the consensus estimate of $207.17 million. During the same period in the previous year, the firm posted $1.46 EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. On average, equities analysts predict that MarketAxess Holdings Inc. will post 7.38 EPS for the current year.

MarketAxess Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Wednesday, November 20th. MarketAxess’s payout ratio is 40.11%.

Insider Transactions at MarketAxess

In other MarketAxess news, Chairman Richard M. Mcvey sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $267.67, for a total transaction of $2,676,700.00. Following the completion of the transaction, the chairman now owns 562,029 shares in the company, valued at $150,438,302.43. The trade was a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Scott Pintoff sold 300 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $240.57, for a total value of $72,171.00. Following the completion of the sale, the general counsel now owns 8,302 shares in the company, valued at approximately $1,997,212.14. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,300 shares of company stock worth $8,183,871. 2.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of MarketAxess from $258.00 to $264.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Piper Sandler restated a “neutral” rating and set a $265.00 price objective on shares of MarketAxess in a research report on Thursday, November 7th. Morgan Stanley upped their target price on shares of MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group raised their price target on MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Finally, UBS Group upped their price objective on MarketAxess from $330.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $266.70.

MarketAxess Profile

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.