7,490 Shares in MarketAxess Holdings Inc. $MKTX Bought by Weiss Asset Management LP

Weiss Asset Management LP bought a new stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,490 shares of the financial services provider’s stock, valued at approximately $1,236,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Primecap Management Co. CA boosted its holdings in MarketAxess by 42.4% in the fourth quarter. Primecap Management Co. CA now owns 3,175,425 shares of the financial services provider’s stock worth $575,546,000 after acquiring an additional 944,830 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of MarketAxess by 169.0% during the fourth quarter. AQR Capital Management LLC now owns 2,558,097 shares of the financial services provider’s stock valued at $463,655,000 after acquiring an additional 1,607,009 shares in the last quarter. North Reef Capital Management LP increased its holdings in shares of MarketAxess by 16.5% during the first quarter. North Reef Capital Management LP now owns 1,875,000 shares of the financial services provider’s stock valued at $309,338,000 after acquiring an additional 265,670 shares in the last quarter. State Street Corp raised its position in shares of MarketAxess by 4.6% in the 2nd quarter. State Street Corp now owns 1,532,696 shares of the financial services provider’s stock valued at $342,312,000 after purchasing an additional 67,290 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in MarketAxess by 5,086.4% in the 4th quarter. Bank of Montreal Can now owns 951,024 shares of the financial services provider’s stock worth $172,373,000 after purchasing an additional 932,687 shares in the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

MarketAxess Price Performance

Shares of NASDAQ:MKTX opened at $117.97 on Tuesday. MarketAxess Holdings Inc. has a twelve month low of $108.75 and a twelve month high of $211.16. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.19. The company has a market cap of $4.19 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 3.14 and a beta of 0.88. The company’s 50 day moving average is $120.09 and its 200 day moving average is $152.46.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on MKTX. Piper Sandler dropped their target price on shares of MarketAxess from $175.00 to $128.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Morgan Stanley lowered their price objective on shares of MarketAxess from $195.00 to $129.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Bank of America raised shares of MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 price objective on the stock in a report on Friday, June 12th. Weiss Ratings downgraded MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Finally, Benchmark restated a “buy” rating on shares of MarketAxess in a research note on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $163.18.

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.