RDST Capital LLC Sells 15,430 Shares of MarketAxess Holdings Inc. $MKTX

RDST Capital LLC lowered its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 5.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 295,267 shares of the financial services provider’s stock after selling 15,430 shares during the period. MarketAxess makes up approximately 4.7% of RDST Capital LLC’s holdings, making the stock its 14th biggest position. RDST Capital LLC owned approximately 0.83% of MarketAxess worth $48,713,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Hsbc Holdings PLC lifted its position in MarketAxess by 638.7% during the first quarter. Hsbc Holdings PLC now owns 21,009 shares of the financial services provider’s stock valued at $3,472,000 after purchasing an additional 18,165 shares during the period. Exchange Traded Concepts LLC grew its position in MarketAxess by 163.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 12,579 shares of the financial services provider’s stock worth $2,280,000 after purchasing an additional 7,798 shares during the period. Alpha Omega Wealth Management LLC bought a new stake in MarketAxess in the 4th quarter worth approximately $1,326,000. CWM LLC raised its stake in MarketAxess by 190.5% during the 4th quarter. CWM LLC now owns 75,665 shares of the financial services provider’s stock valued at $13,714,000 after buying an additional 49,619 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in MarketAxess during the 2nd quarter valued at $406,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

MarketAxess Trading Up 3.5%

NASDAQ:MKTX opened at $122.05 on Wednesday. MarketAxess Holdings Inc. has a one year low of $108.75 and a one year high of $210.94. The business has a fifty day moving average price of $119.69 and a 200-day moving average price of $152.10. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 3.17 and a beta of 0.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.17 and a quick ratio of 2.17.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Thursday, May 7th. The financial services provider reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.10. MarketAxess had a return on equity of 22.28% and a net margin of 35.53%.The company had revenue of $233.38 million for the quarter, compared to the consensus estimate of $231.91 million. During the same period in the previous year, the business earned $1.87 earnings per share. MarketAxess’s quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts forecast that MarketAxess Holdings Inc. will post 8.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MKTX shares. Bank of America upgraded MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 price target on the stock in a research note on Friday, June 12th. Weiss Ratings cut MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group lowered their target price on MarketAxess from $168.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Benchmark reissued a “buy” rating on shares of MarketAxess in a research report on Wednesday, July 8th. Finally, Piper Sandler cut their price target on MarketAxess from $175.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $163.18.

MarketAxess Company Profile

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.