MarketAxess Holdings Inc. $MKTX Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 163.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,579 shares of the financial services provider’s stock after purchasing an additional 7,798 shares during the quarter. Exchange Traded Concepts LLC’s holdings in MarketAxess were worth $2,280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Pallas Capital Advisors LLC grew its holdings in shares of MarketAxess by 298.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 13,624 shares of the financial services provider’s stock valued at $2,469,000 after buying an additional 10,203 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in MarketAxess by 387.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 63,228 shares of the financial services provider’s stock worth $11,460,000 after acquiring an additional 50,244 shares during the last quarter. Diversified Trust Co. purchased a new position in MarketAxess in the 4th quarter worth $431,000. Goodman Financial Corp lifted its position in MarketAxess by 5.4% during the 4th quarter. Goodman Financial Corp now owns 76,294 shares of the financial services provider’s stock worth $13,828,000 after acquiring an additional 3,924 shares during the period. Finally, True Wealth Design LLC lifted its position in MarketAxess by 1,393.5% during the 4th quarter. True Wealth Design LLC now owns 687 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 641 shares during the period. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Argus lowered MarketAxess from a “buy” rating to a “hold” rating in a report on Tuesday, March 17th. UBS Group decreased their target price on MarketAxess from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, January 9th. Piper Sandler dropped their target price on MarketAxess from $180.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. Wall Street Zen upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Weiss Ratings raised shares of MarketAxess from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 10th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $200.40.

MarketAxess Price Performance

Shares of MKTX opened at $164.98 on Wednesday. The business’s 50-day moving average is $175.52 and its two-hundred day moving average is $173.56. The company has a market capitalization of $5.87 billion, a P/E ratio of 24.77, a P/E/G ratio of 2.74 and a beta of 0.93. MarketAxess Holdings Inc. has a fifty-two week low of $156.17 and a fifty-two week high of $232.84. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.80 and a current ratio of 2.80.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Friday, February 6th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.04). The company had revenue of $209.41 million during the quarter, compared to analyst estimates of $214.06 million. MarketAxess had a net margin of 29.14% and a return on equity of 20.88%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $1.73 EPS. Research analysts predict that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

MarketAxess Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 18th were issued a $0.78 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This is a boost from MarketAxess’s previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a yield of 1.9%. MarketAxess’s dividend payout ratio is presently 46.85%.

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.