Lombard Odier Asset Management Europe Ltd Invests $429,000 in MarketAxess Holdings Inc. $MKTX

Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,783 shares of the financial services provider’s stock, valued at approximately $429,000.

Several other institutional investors and hedge funds have also modified their holdings of MKTX. Archer Investment Corp acquired a new position in MarketAxess during the second quarter worth $113,000. Empowered Funds LLC acquired a new stake in shares of MarketAxess in the second quarter worth about $286,000. Public Employees Retirement System of Ohio acquired a new stake in shares of MarketAxess in the second quarter worth about $1,176,000. Parvin Asset Management LLC bought a new stake in shares of MarketAxess during the 2nd quarter worth about $616,000. Finally, Corient Private Wealth LP bought a new stake in shares of MarketAxess during the 2nd quarter worth about $331,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Stock Up 0.2%

Shares of MKTX opened at $162.72 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.85 and a current ratio of 1.85. The company has a 50-day simple moving average of $136.14 and a 200-day simple moving average of $150.83. MarketAxess Holdings Inc. has a 52 week low of $108.75 and a 52 week high of $195.96. The firm has a market capitalization of $5.73 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.07 and a beta of 0.83.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. MarketAxess had a return on equity of 22.48% and a net margin of 35.22%.The business had revenue of $218.41 million for the quarter, compared to the consensus estimate of $216.70 million. During the same period last year, the business earned $2.00 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts expect that MarketAxess Holdings Inc. will post 8.06 earnings per share for the current year.

MarketAxess Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, August 19th. MarketAxess’s dividend payout ratio (DPR) is presently 36.79%.

Analyst Ratings Changes

A number of research analysts recently weighed in on MKTX shares. Bank of America raised MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 price objective on the stock in a research note on Friday, June 12th. The Goldman Sachs Group decreased their target price on MarketAxess from $168.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Wall Street Zen lowered shares of MarketAxess from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $167.00 price target (up from $150.00) on shares of MarketAxess in a research report on Tuesday, August 11th. Finally, Rothschild & Co Redburn restated a “neutral” rating and issued a $134.00 price objective (down from $189.00) on shares of MarketAxess in a research note on Thursday, June 11th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $156.10.

About MarketAxess

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.