Cinctive Capital Management LP Buys New Holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Cinctive Capital Management LP bought a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,749 shares of the financial services provider's stock, valued at approximately $2,204,000.

Other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC grew its stake in MarketAxess by 4.0% during the 4th quarter. V Square Quantitative Management LLC now owns 1,340 shares of the financial services provider's stock valued at $303,000 after acquiring an additional 52 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of MarketAxess by 4.0% during the 3rd quarter. M&T Bank Corp now owns 1,469 shares of the financial services provider's stock worth $376,000 after purchasing an additional 56 shares during the last quarter. Versor Investments LP grew its position in shares of MarketAxess by 6.3% in the fourth quarter. Versor Investments LP now owns 1,102 shares of the financial services provider's stock valued at $249,000 after purchasing an additional 65 shares in the last quarter. Global X Japan Co. Ltd. increased its holdings in shares of MarketAxess by 179.5% in the fourth quarter. Global X Japan Co. Ltd. now owns 109 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 70 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of MarketAxess by 2.6% in the fourth quarter. Fifth Third Bancorp now owns 2,979 shares of the financial services provider's stock valued at $673,000 after purchasing an additional 75 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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MarketAxess Stock Up 1.3 %

NASDAQ MKTX traded up $2.72 during trading on Tuesday, hitting $210.64. The stock had a trading volume of 220,616 shares, compared to its average volume of 472,147. The company has a market capitalization of $7.94 billion, a PE ratio of 29.01, a PEG ratio of 3.89 and a beta of 1.12. MarketAxess Holdings Inc. has a twelve month low of $186.84 and a twelve month high of $296.68. The firm has a 50 day moving average price of $206.29 and a 200 day moving average price of $237.04.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its earnings results on Thursday, February 6th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.03. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. On average, sell-side analysts anticipate that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

MarketAxess Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 19th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.44%. This is a boost from MarketAxess's previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Wednesday, February 19th. MarketAxess's payout ratio is presently 41.82%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their target price on MarketAxess from $251.00 to $225.00 and set a "market perform" rating for the company in a report on Friday, February 7th. Barclays raised their price objective on shares of MarketAxess from $225.00 to $232.00 and gave the stock an "equal weight" rating in a research report on Monday. UBS Group dropped their price target on shares of MarketAxess from $305.00 to $295.00 and set a "buy" rating for the company in a research note on Monday. Bank of America upped their price objective on MarketAxess from $189.00 to $191.00 and gave the company an "underperform" rating in a report on Wednesday, April 2nd. Finally, Piper Sandler cut their target price on MarketAxess from $220.00 to $213.00 and set a "neutral" rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, MarketAxess presently has a consensus rating of "Hold" and an average price target of $252.11.

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.