North Reef Capital Management LP lifted its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX – Free Report) by 16.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,875,000 shares of the financial services provider’s stock after purchasing an additional 265,670 shares during the period. MarketAxess accounts for approximately 10.6% of North Reef Capital Management LP’s investment portfolio, making the stock its 2nd biggest holding. North Reef Capital Management LP owned approximately 0.05% of MarketAxess worth $309,338,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in MKTX. MUFG Securities EMEA plc acquired a new position in MarketAxess in the 2nd quarter valued at $25,000. Geneos Wealth Management Inc. lifted its holdings in shares of MarketAxess by 200.0% during the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock worth $26,000 after buying an additional 80 shares in the last quarter. Activest Wealth Management bought a new stake in shares of MarketAxess in the fourth quarter valued at about $28,000. Pacer Advisors Inc. boosted its position in shares of MarketAxess by 300.0% in the fourth quarter. Pacer Advisors Inc. now owns 280 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 210 shares during the period. Finally, Westpac Banking Corp acquired a new position in shares of MarketAxess in the first quarter valued at about $56,000. 99.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of MarketAxess from $168.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Piper Sandler cut their price objective on shares of MarketAxess from $175.00 to $128.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Benchmark restated a “buy” rating on shares of MarketAxess in a research report on Wednesday, July 8th. Barclays decreased their target price on shares of MarketAxess from $170.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 9th. Finally, UBS Group dropped their price target on shares of MarketAxess from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $163.18.
MarketAxess Stock Up 2.1%
Shares of NASDAQ MKTX opened at $116.69 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.17 and a current ratio of 2.17. MarketAxess Holdings Inc. has a 52 week low of $108.75 and a 52 week high of $214.42. The stock has a market capitalization of $4.15 billion, a P/E ratio of 13.79, a PEG ratio of 3.14 and a beta of 0.88. The stock’s fifty day moving average is $120.55 and its 200 day moving average is $153.10.
MarketAxess (NASDAQ:MKTX – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.10. MarketAxess had a return on equity of 22.28% and a net margin of 35.53%.The business had revenue of $233.38 million during the quarter, compared to the consensus estimate of $231.91 million. During the same quarter in the previous year, the firm earned $1.87 earnings per share. MarketAxess’s revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts forecast that MarketAxess Holdings Inc. will post 8.01 earnings per share for the current fiscal year.
MarketAxess 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.
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