Wellington Management Group LLP Acquires Shares of 25,506 MarketAxess Holdings Inc. (NASDAQ:MKTX)

Wellington Management Group LLP acquired a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 25,506 shares of the financial services provider's stock, valued at approximately $6,535,000. Wellington Management Group LLP owned 0.07% of MarketAxess at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MKTX. Blue Trust Inc. boosted its holdings in MarketAxess by 405.1% in the 2nd 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 in the last quarter. Raymond James & Associates grew its holdings in MarketAxess by 0.4% during the second quarter. Raymond James & Associates now owns 202,201 shares of the financial services provider's stock worth $40,547,000 after acquiring an additional 789 shares during the period. Nisa Investment Advisors LLC raised its position in 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 in the last quarter. Lecap Asset Management Ltd. acquired a new stake in MarketAxess in the second quarter valued at $1,540,000. Finally, Access Financial Services Inc. boosted its position in shares of MarketAxess by 32.3% during the 2nd quarter. Access Financial Services Inc. now owns 3,758 shares of the financial services provider's stock worth $754,000 after purchasing an additional 917 shares in the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

MarketAxess Stock Up 0.9 %

Shares of NASDAQ:MKTX traded up $1.98 during trading on Tuesday, reaching $234.90. The stock had a trading volume of 461,624 shares, compared to its average volume of 410,808. The stock has a market cap of $8.86 billion, a P/E ratio of 31.94, a PEG ratio of 10.54 and a beta of 1.00. The business has a fifty day moving average price of $269.63 and a 200-day moving average price of $242.39. MarketAxess Holdings Inc. has a fifty-two week low of $192.42 and a fifty-two week high of $297.97.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05. The company had revenue of $206.70 million during the quarter, compared to the consensus estimate of $207.17 million. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. MarketAxess's revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 EPS. As a group, equities analysts forecast that MarketAxess Holdings Inc. will post 7.38 EPS for the current year.

MarketAxess Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Wednesday, November 20th. MarketAxess's dividend payout ratio is currently 40.11%.

Insider Transactions at MarketAxess

In other news, General Counsel Scott Pintoff sold 300 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $240.57, for a total transaction of $72,171.00. Following the completion of the sale, the general counsel now owns 8,302 shares in the company, valued at approximately $1,997,212.14. The trade was a 3.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard M. Mcvey sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The shares were 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 owns 562,029 shares in the company, valued at $150,438,302.43. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,300 shares of company stock worth $8,183,871 in the last three months. Company insiders own 2.66% of the company's stock.

Wall Street Analysts Forecast Growth

MKTX has been the subject of a number of research analyst reports. Citigroup increased 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. Bank of America dropped their target price 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. Barclays reduced their price target on shares of MarketAxess from $289.00 to $260.00 and set an "equal weight" rating for the company in a research report on Monday, December 9th. Piper Sandler restated a "neutral" rating and issued a $265.00 price target on shares of MarketAxess in a report on Thursday, November 7th. Finally, Morgan Stanley lifted their price objective on MarketAxess from $262.00 to $314.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, MarketAxess presently has an average rating of "Hold" and a consensus price target of $266.70.

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.