MarketAxess Holdings Inc. (NASDAQ:MKTX) Shares Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS boosted its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 0.8% during the 3rd quarter, Holdings Channel reports. The fund owned 45,312 shares of the financial services provider’s stock after acquiring an additional 338 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in MarketAxess were worth $11,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Goodman Advisory Group LLC bought a new stake in shares of MarketAxess in the 2nd quarter worth $27,000. Larson Financial Group LLC lifted its stake in MarketAxess by 2,428.6% during the first quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock valued at $39,000 after buying an additional 170 shares in the last quarter. Blue Trust Inc. boosted its stake in MarketAxess by 405.1% in the 2nd quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 158 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of MarketAxess during the third quarter valued at $54,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in MarketAxess by 555.6% during the third 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 last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MKTX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of MarketAxess from $218.00 to $223.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Citigroup lifted 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. Piper Sandler reissued a “neutral” rating and set a $265.00 price objective on shares of MarketAxess in a research report on Thursday. The Goldman Sachs Group boosted their target price on shares of MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Finally, Morgan Stanley increased their price target on shares of MarketAxess from $262.00 to $314.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MarketAxess currently has an average rating of “Hold” and an average price target of $253.30.

MarketAxess Stock Performance

MarketAxess stock traded down $2.06 on Thursday, hitting $272.81. The company’s stock had a trading volume of 17,138 shares, compared to its average volume of 407,108. MarketAxess Holdings Inc. has a one year low of $192.42 and a one year high of $297.97. The firm has a market cap of $10.30 billion, a P/E ratio of 39.61, a price-to-earnings-growth ratio of 9.04 and a beta of 1.05. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $269.28 and a 200-day moving average price of $232.51.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.08. The business had revenue of $206.70 million for the quarter, compared to analysts’ expectations of $207.17 million. MarketAxess had a net margin of 33.71% and a return on equity of 20.43%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 earnings per share. On average, equities analysts anticipate that MarketAxess Holdings Inc. will post 7.26 earnings per share for the current year.

MarketAxess announced that its Board of Directors has approved a stock buyback plan 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 reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

MarketAxess Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be issued 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 1.09%. MarketAxess’s payout ratio is presently 42.65%.

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.