Squarepoint Ops LLC Increases Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Squarepoint Ops LLC raised its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 218.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,274 shares of the financial services provider’s stock after buying an additional 2,246 shares during the period. Squarepoint Ops LLC’s holdings in MarketAxess were worth $657,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC boosted its holdings in MarketAxess by 2,428.6% during the 1st quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 170 shares during the period. Blue Trust Inc. boosted its stake in shares of MarketAxess by 405.1% in the second quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 158 shares during the period. CVA Family Office LLC grew its holdings in shares of MarketAxess by 47.4% in the second quarter. CVA Family Office LLC now owns 252 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 81 shares in the last quarter. Riverview Trust Co purchased a new stake in MarketAxess during the 1st quarter worth approximately $68,000. Finally, Mather Group LLC. acquired a new stake in MarketAxess during the 1st quarter worth approximately $72,000. 99.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MarketAxess

In other news, insider Christophe Pierre Danie Roupie sold 617 shares of MarketAxess stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $231.63, for a total value of $142,915.71. Following the transaction, the insider now directly owns 7,409 shares of the company’s stock, valued at $1,716,146.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.66% of the stock is owned by company insiders.

MarketAxess Trading Up 0.8 %

Shares of MarketAxess stock opened at $275.89 on Wednesday. The company has a fifty day simple moving average of $247.05 and a 200-day simple moving average of $222.14. MarketAxess Holdings Inc. has a 12-month low of $192.42 and a 12-month high of $297.97. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.01. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 6.04 and a beta of 1.08.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.04. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The company had revenue of $197.70 million for the quarter, compared to analyst estimates of $198.07 million. During the same quarter last year, the company posted $1.63 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities analysts forecast that MarketAxess Holdings Inc. will post 7.06 EPS for the current fiscal year.

MarketAxess declared that its Board of Directors has authorized a stock 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 purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

MarketAxess Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.74 per share. This is a positive change from MarketAxess’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $2.96 annualized dividend and a yield of 1.07%. MarketAxess’s payout ratio is 43.47%.

Wall Street Analyst Weigh In

Several equities analysts have commented on MKTX shares. Piper Sandler boosted their price target on shares of MarketAxess from $235.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday. The Goldman Sachs Group upped their price target on MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on MarketAxess from $218.00 to $223.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. StockNews.com raised shares of MarketAxess from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Bank of America lowered their price target on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $249.80.

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.