Larson Financial Group LLC Has $357,000 Holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Larson Financial Group LLC boosted its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 50.8% in the third quarter, Holdings Channel reports. The fund owned 1,393 shares of the financial services provider’s stock after acquiring an additional 469 shares during the period. Larson Financial Group LLC’s holdings in MarketAxess were worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Accent Capital Management LLC bought a new position in MarketAxess during the third quarter worth $25,000. Goodman Advisory Group LLC acquired a new stake in MarketAxess in the 2nd quarter worth $27,000. Blue Trust Inc. increased its holdings 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 worth $43,000 after purchasing an additional 158 shares during the period. CVA Family Office LLC raised its position in shares of MarketAxess by 47.4% during the second quarter. CVA Family Office LLC now owns 252 shares of the financial services provider’s stock valued at $51,000 after buying an additional 81 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in shares of MarketAxess in the third quarter valued at about $54,000. 99.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MKTX shares. StockNews.com upgraded MarketAxess from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Barclays upped their target price on MarketAxess from $237.00 to $268.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Citigroup lifted their price target on shares of MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of MarketAxess from $258.00 to $264.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley lifted their target price 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, MarketAxess has a consensus rating of “Hold” and an average target price of $267.50.

Insider Buying and Selling

In related news, Chairman Richard M. Mcvey sold 20,000 shares of the business’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 completion of the transaction, the chairman now owns 592,029 shares in the company, valued at $160,883,880.75. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.66% of the stock is owned by corporate insiders.

MarketAxess Trading Down 1.1 %

NASDAQ MKTX opened at $261.02 on Wednesday. MarketAxess Holdings Inc. has a 1-year low of $192.42 and a 1-year high of $297.97. The company has a 50 day moving average of $273.32 and a 200-day moving average of $238.51. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of 35.37, a PEG ratio of 11.69 and a beta of 1.05.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. The firm had revenue of $206.70 million during the quarter, compared to analysts’ expectations of $207.17 million. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The business’s revenue was up 20.0% on a year-over-year basis. During the same period last year, the firm posted $1.46 EPS. On average, analysts forecast that MarketAxess Holdings Inc. will post 7.37 earnings per share for the current year.

MarketAxess Dividend Announcement

The firm also recently declared 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. 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 1.13%. MarketAxess’s dividend payout ratio is 40.11%.

MarketAxess announced that its board has approved a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.