Kingsview Wealth Management LLC Sells 546 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Kingsview Wealth Management LLC cut its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,265 shares of the financial services provider’s stock after selling 546 shares during the period. Kingsview Wealth Management LLC’s holdings in MarketAxess were worth $9,547,000 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 MarketAxess in the third quarter worth approximately $25,000. Goodman Advisory Group LLC bought a new position in MarketAxess in the second quarter worth approximately $27,000. Blue Trust Inc. raised 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 purchasing an additional 158 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of MarketAxess during the 3rd quarter valued at $54,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of MarketAxess by 555.6% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 200 shares during the period. 99.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Richard M. Mcvey sold 10,000 shares of MarketAxess stock in a transaction dated 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 directly owns 562,029 shares of the company’s stock, valued at approximately $150,438,302.43. The trade was a 1.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.66% of the stock is owned by corporate insiders.

MarketAxess Stock Up 0.0 %

Shares of NASDAQ:MKTX opened at $260.35 on Friday. MarketAxess Holdings Inc. has a 52 week low of $192.42 and a 52 week high of $297.97. The stock has a market capitalization of $9.82 billion, a P/E ratio of 35.28, a PEG ratio of 11.69 and a beta of 1.05. The firm has a fifty day simple moving average of $273.16 and a two-hundred day simple moving average of $237.21.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the company posted $1.46 EPS. The business’s revenue was up 20.0% on a year-over-year basis. On average, analysts expect that MarketAxess Holdings Inc. will post 7.37 earnings per share for the current year.

MarketAxess declared that its board has approved a share repurchase program on Tuesday, August 6th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

MarketAxess Announces Dividend

The firm 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 $0.74 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.14%. MarketAxess’s payout ratio is currently 40.11%.

Analysts Set New Price Targets

MKTX has been the topic of several recent analyst reports. Morgan Stanley raised their price objective on shares of MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Bank of America decreased their price objective on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a research report on Thursday, October 3rd. The Goldman Sachs Group lifted their price target on shares of MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of MarketAxess from $258.00 to $264.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $265.00 price target on shares of MarketAxess in a report on Thursday, November 7th. Two research 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $267.50.

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.