Curi RMB Capital LLC Trims Stock Holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Curi RMB Capital LLC lessened its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 19.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,981 shares of the financial services provider's stock after selling 13,834 shares during the period. Curi RMB Capital LLC owned approximately 0.15% of MarketAxess worth $14,599,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MKTX. Goodman Advisory Group LLC purchased a new position in shares of MarketAxess in the second quarter worth approximately $27,000. Blue Trust Inc. grew its position in shares of MarketAxess by 405.1% during the 2nd quarter. Blue Trust Inc. now owns 197 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 158 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of MarketAxess in the 3rd quarter worth $54,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in MarketAxess by 555.6% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider's stock worth $60,000 after purchasing an additional 200 shares during the period. Finally, CVA Family Office LLC raised its holdings in MarketAxess by 47.4% in the 2nd quarter. CVA Family Office LLC now owns 252 shares of the financial services provider's stock worth $51,000 after purchasing an additional 81 shares during the period. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

MarketAxess Price Performance

Shares of MKTX stock traded down $2.15 during trading hours on Thursday, hitting $264.98. The stock had a trading volume of 287,391 shares, compared to its average volume of 406,868. The stock has a market capitalization of $9.99 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 12.27 and a beta of 1.05. MarketAxess Holdings Inc. has a one year low of $192.42 and a one year high of $297.97. The stock's 50-day moving average price is $272.25 and its two-hundred day moving average price is $234.92.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.85 by $0.05. The business had revenue of $206.70 million during the quarter, compared to analyst estimates of $207.17 million. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. MarketAxess's quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. As a group, equities research analysts predict that MarketAxess Holdings Inc. will post 7.33 earnings per share for the current fiscal year.

MarketAxess announced that its board has initiated a stock buyback program on Tuesday, August 6th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

MarketAxess Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.96 annualized dividend and a yield of 1.12%. MarketAxess's payout ratio is currently 40.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MKTX. Barclays upped their price target on MarketAxess from $237.00 to $268.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. The Goldman Sachs Group raised their target price on shares of MarketAxess from $204.00 to $233.00 and gave the stock a "neutral" rating in a research note on Monday, September 30th. StockNews.com upgraded shares of MarketAxess from a "sell" rating to a "hold" rating in a research report on Wednesday, August 7th. Citigroup raised their price objective on shares of MarketAxess from $310.00 to $325.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $265.00 target price on shares of MarketAxess in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, MarketAxess currently has a consensus rating of "Hold" and an average price target of $267.50.

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.