MarketAxess Holdings Inc. (NASDAQ:MKTX) Stake Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 2.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,649 shares of the financial services provider’s stock after selling 130 shares during the quarter. Mutual of America Capital Management LLC’s holdings in MarketAxess were worth $1,191,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MKTX. Retirement Planning Co of New England Inc. grew its position in MarketAxess by 2.9% during the second quarter. Retirement Planning Co of New England Inc. now owns 1,566 shares of the financial services provider’s stock valued at $314,000 after purchasing an additional 44 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of MarketAxess by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 15,431 shares of the financial services provider’s stock valued at $3,953,000 after acquiring an additional 50 shares in the last quarter. Nisa Investment Advisors LLC increased 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 acquiring an additional 52 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of MarketAxess by 1.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 5,080 shares of the financial services provider’s stock worth $1,287,000 after acquiring an additional 52 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in MarketAxess by 4.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 76 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Trading Up 1.3 %

NASDAQ MKTX opened at $263.80 on Tuesday. MarketAxess Holdings Inc. has a 1 year low of $192.42 and a 1 year high of $297.97. The company has a fifty day simple moving average of $273.23 and a 200 day simple moving average of $238.10. The company has a market cap of $9.95 billion, a P/E ratio of 35.75, a P/E/G ratio of 11.69 and a beta of 1.05.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. The company had revenue of $206.70 million during the quarter, compared to analysts’ expectations of $207.17 million. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.46 earnings per share. Equities research analysts forecast that MarketAxess Holdings Inc. will post 7.37 EPS for the current fiscal year.

MarketAxess Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Wednesday, November 20th. MarketAxess’s dividend payout ratio (DPR) is currently 40.11%.

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on MarketAxess from $270.00 to $276.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. StockNews.com raised shares of MarketAxess from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group lifted their target price on shares of MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Piper Sandler restated a “neutral” rating and set a $265.00 price target on shares of MarketAxess in a research note on Thursday, November 7th. Finally, Citigroup raised their price target on shares of MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a report on Friday, October 4th. Two 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 price target of $267.50.

Insiders Place Their Bets

In other news, Chairman Richard M. Mcvey sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $271.75, for a total value of $5,435,000.00. Following the completion of the sale, the chairman now directly owns 592,029 shares of the company’s stock, valued at approximately $160,883,880.75. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.66% of the company’s stock.

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.