Kingsview Wealth Management LLC Decreases Stock Holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Kingsview Wealth Management LLC lowered its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,265 shares of the financial services provider’s stock after selling 546 shares during the quarter. Kingsview Wealth Management LLC owned about 0.10% of MarketAxess worth $9,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nicolet Advisory Services LLC purchased a new position in shares of MarketAxess during the third quarter valued at about $239,000. Primecap Management Co. CA increased its position in shares of MarketAxess by 0.6% during the third quarter. Primecap Management Co. CA now owns 1,338,922 shares of the financial services provider’s stock valued at $343,032,000 after buying an additional 8,042 shares during the period. Commerce Bank increased its position in shares of MarketAxess by 3.8% during the third quarter. Commerce Bank now owns 2,626 shares of the financial services provider’s stock valued at $673,000 after buying an additional 97 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of MarketAxess during the third quarter valued at about $1,966,000. Finally, Thrivent Financial for Lutherans increased its position in shares of MarketAxess by 901.5% during the third quarter. Thrivent Financial for Lutherans now owns 16,014 shares of the financial services provider’s stock valued at $4,103,000 after buying an additional 14,415 shares during the period. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Richard M. Mcvey sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $271.75, for a total value of $5,435,000.00. Following the sale, the chairman now owns 592,029 shares in the company, valued at approximately $160,883,880.75. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.66% of the stock is currently owned by corporate insiders.

MarketAxess Stock Up 0.0 %

NASDAQ:MKTX opened at $260.35 on Friday. The company’s 50 day moving average price is $273.16 and its 200-day moving average price is $237.21. MarketAxess Holdings Inc. has a 52 week low of $192.42 and a 52 week high of $297.97. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 11.69 and a beta of 1.05.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, beating 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 firm had revenue of $206.70 million for the quarter, compared to analysts’ expectations of $207.17 million. During the same quarter in the prior year, the company posted $1.46 earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, sell-side analysts anticipate that MarketAxess Holdings Inc. will post 7.37 earnings per share for the current year.

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

MarketAxess Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, November 20th. MarketAxess’s dividend payout ratio is currently 40.11%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MKTX. Citigroup boosted their price target 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. Keefe, Bruyette & Woods boosted their price target on shares of MarketAxess from $270.00 to $276.00 and gave the company a “market perform” rating in a research report on Thursday, November 7th. Bank of America decreased their target price on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating for the company in a research note on Thursday, October 3rd. The Goldman Sachs Group raised their target price on shares of MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $265.00 target price on shares of MarketAxess in a research note on Thursday, November 7th. 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.