Exchange Traded Concepts LLC Takes $54,000 Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Exchange Traded Concepts LLC acquired a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 209 shares of the financial services provider’s stock, valued at approximately $54,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Goodman Advisory Group LLC bought a new position in MarketAxess during the second quarter worth about $27,000. Larson Financial Group LLC raised its position in shares of MarketAxess by 2,428.6% in the first quarter. Larson Financial Group LLC now owns 177 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 170 shares during the period. Blue Trust Inc. lifted its stake in shares of MarketAxess by 405.1% during the 2nd quarter. Blue Trust Inc. now owns 197 shares of the financial services provider’s stock valued at $43,000 after buying an additional 158 shares in the last quarter. CVA Family Office LLC boosted its holdings in MarketAxess by 47.4% in the 2nd quarter. CVA Family Office LLC now owns 252 shares of the financial services provider’s stock worth $51,000 after buying an additional 81 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in MarketAxess by 555.6% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider’s stock valued at $60,000 after buying an additional 200 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MKTX. Morgan Stanley increased their target price on MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Bank of America dropped their price objective on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a report on Thursday, October 3rd. Piper Sandler lifted their target price on MarketAxess from $235.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Barclays boosted their price objective on shares of MarketAxess from $237.00 to $268.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Citigroup upped their target price on shares of MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $253.30.

MarketAxess Stock Performance

NASDAQ MKTX opened at $288.89 on Thursday. The company has a 50-day simple moving average of $258.85 and a two-hundred day simple moving average of $227.27. MarketAxess Holdings Inc. has a 12-month low of $192.42 and a 12-month high of $297.97. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of 42.42, a PEG ratio of 7.24 and a beta of 1.08. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.01.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.04. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The business had revenue of $197.70 million for the quarter, compared to analyst estimates of $198.07 million. During the same period last year, the company earned $1.63 EPS. MarketAxess’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities analysts forecast that MarketAxess Holdings Inc. will post 7.16 EPS for the current year.

MarketAxess declared that its Board of Directors has approved a stock buyback program on Tuesday, August 6th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Christophe Pierre Danie Roupie sold 617 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $231.63, for a total transaction of $142,915.71. Following the completion of the sale, the insider now directly owns 7,409 shares in the company, valued at approximately $1,716,146.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.66% of the stock is owned by insiders.

MarketAxess Company Profile

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.