MarketAxess Holdings Inc. (NASDAQ:MKTX) Shares Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,312 shares of the financial services provider’s stock after acquiring an additional 338 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.12% of MarketAxess worth $11,609,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Larson Financial Group LLC grew its holdings in MarketAxess by 2,428.6% in the 1st quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock valued at $39,000 after buying an additional 170 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of MarketAxess by 174.2% during the first quarter. SG Americas Securities LLC now owns 6,743 shares of the financial services provider’s stock worth $1,478,000 after buying an additional 4,284 shares during the period. Retirement Planning Co of New England Inc. lifted its stake in MarketAxess by 18.0% in the first quarter. Retirement Planning Co of New England Inc. now owns 1,522 shares of the financial services provider’s stock worth $334,000 after acquiring an additional 232 shares during the last quarter. Choate Investment Advisors acquired a new position in MarketAxess during the 1st quarter worth approximately $752,000. Finally, Inspire Investing LLC grew its stake in shares of MarketAxess by 20.7% during the first quarter. Inspire Investing LLC now owns 6,874 shares of the financial services provider’s stock worth $1,507,000 after purchasing an additional 1,179 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MKTX. Morgan Stanley lifted their price target on MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft boosted their target price on MarketAxess from $218.00 to $223.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Citigroup increased their price target on shares of MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Barclays boosted their price objective on shares of MarketAxess from $237.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Bank of America reduced their price target on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $253.30.

MarketAxess Trading Down 0.7 %

MKTX traded down $2.06 on Thursday, reaching $272.81. 17,138 shares of the company’s stock were exchanged, compared to its average volume of 407,108. The company has a market cap of $10.30 billion, a price-to-earnings ratio of 39.61, a PEG ratio of 9.04 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.91 and a current ratio of 2.91. MarketAxess Holdings Inc. has a twelve month low of $192.42 and a twelve month high of $297.97. The company’s 50 day moving average is $269.28 and its 200-day moving average is $232.51.

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, beating the consensus estimate of $1.82 by $0.08. MarketAxess had a net margin of 33.71% and a return on equity of 20.43%. The business had revenue of $206.70 million for the quarter, compared to analyst estimates of $207.17 million. During the same quarter in the previous year, the business posted $1.46 EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. Equities analysts predict that MarketAxess Holdings Inc. will post 7.26 earnings per share for the current year.

MarketAxess Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.74 per share. The ex-dividend date is Wednesday, November 20th. This represents a $2.96 annualized dividend and a dividend yield of 1.09%. MarketAxess’s payout ratio is currently 42.65%.

MarketAxess announced that its Board of Directors has initiated a share repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

MarketAxess Company 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.