Point72 Asset Management L.P. Takes Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Point72 Asset Management L.P. purchased a new stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 117,992 shares of the financial services provider's stock, valued at approximately $30,229,000. Point72 Asset Management L.P. owned 0.31% of MarketAxess as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Accent Capital Management LLC bought a new position in shares of MarketAxess during the 3rd quarter valued at about $25,000. Goodman Advisory Group LLC purchased a new stake in shares of MarketAxess in the 2nd quarter worth approximately $27,000. Blue Trust Inc. raised its holdings in MarketAxess by 405.1% in the second quarter. Blue Trust Inc. now owns 197 shares of the financial services provider's stock worth $43,000 after purchasing an additional 158 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of MarketAxess in the 3rd quarter worth $54,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in MarketAxess by 555.6% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider's stock worth $60,000 after buying an additional 200 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Richard M. Mcvey sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $267.67, for a total transaction of $2,676,700.00. Following the completion of the transaction, the chairman now directly owns 562,029 shares of the company's stock, valued at approximately $150,438,302.43. This represents a 1.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MKTX. The Goldman Sachs Group raised their price target on shares of MarketAxess from $204.00 to $233.00 and gave the stock a "neutral" rating in a report on Monday, September 30th. UBS Group raised their target price on MarketAxess from $330.00 to $335.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Citigroup increased their price objective on shares of MarketAxess from $310.00 to $325.00 and gave the company a "buy" rating in a report on Friday, October 4th. Keefe, Bruyette & Woods boosted their price target on MarketAxess from $270.00 to $276.00 and gave the stock a "market perform" rating in a research report on Thursday, November 7th. Finally, Barclays raised their target price on shares of MarketAxess from $237.00 to $268.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $267.50.

MarketAxess Trading Down 1.7 %

MKTX stock traded down $4.03 during trading on Friday, hitting $239.93. 573,586 shares of the company's stock were exchanged, compared to its average volume of 409,448. The business has a 50-day moving average price of $273.32 and a two-hundred day moving average price of $240.74. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 11.80 and a beta of 1.00. MarketAxess Holdings Inc. has a 52-week low of $192.42 and a 52-week high of $297.97.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.05. MarketAxess had a net margin of 34.32% and a return on equity of 20.93%. The business had revenue of $206.70 million during the quarter, compared to analysts' expectations of $207.17 million. During the same quarter in the prior year, the business posted $1.46 EPS. The company's revenue for the quarter was up 20.0% on a year-over-year basis. On average, equities research analysts anticipate that MarketAxess Holdings Inc. will post 7.37 earnings per share for the current fiscal year.

MarketAxess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Wednesday, November 20th. MarketAxess's payout ratio is currently 40.11%.

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.