MarketAxess Holdings Inc. $MKTX Shares Purchased by AlphaQuest LLC

AlphaQuest LLC increased its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 11.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,952 shares of the financial services provider’s stock after acquiring an additional 520 shares during the quarter. AlphaQuest LLC’s holdings in MarketAxess were worth $1,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MKTX. Geneos Wealth Management Inc. raised its stake in 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 acquiring an additional 80 shares during the period. Harbor Investment Advisory LLC acquired a new stake in MarketAxess during the second quarter worth about $37,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of MarketAxess by 51.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 84 shares during the period. Signaturefd LLC increased its stake in shares of MarketAxess by 173.0% in the first quarter. Signaturefd LLC now owns 333 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 211 shares during the period. Finally, Quarry LP increased its stake in shares of MarketAxess by 96.7% in the first quarter. Quarry LP now owns 356 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler set a $180.00 price target on shares of MarketAxess in a research note on Tuesday, October 14th. Weiss Ratings restated a “hold (c-)” rating on shares of MarketAxess in a research note on Saturday. Jefferies Financial Group dropped their price target on shares of MarketAxess from $217.00 to $208.00 and set a “hold” rating on the stock in a research note on Monday, August 11th. Wall Street Zen upgraded shares of MarketAxess from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Argus upgraded shares of MarketAxess from a “hold” rating to a “buy” rating and set a $212.00 price target on the stock in a research note on Monday, August 25th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $216.58.

Insider Buying and Selling

In related news, CRO Kevin M. Mcpherson sold 1,494 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $185.32, for a total transaction of $276,868.08. Following the completion of the sale, the executive directly owned 67,681 shares in the company, valued at approximately $12,542,642.92. This trade represents a 2.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stephen P. Casper sold 1,600 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $186.59, for a total transaction of $298,544.00. Following the sale, the director owned 43,208 shares of the company’s stock, valued at $8,062,180.72. The trade was a 3.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

MarketAxess Price Performance

NASDAQ MKTX opened at $170.55 on Friday. MarketAxess Holdings Inc. has a 12 month low of $161.61 and a 12 month high of $296.68. The firm has a market capitalization of $6.37 billion, a PE ratio of 28.71, a P/E/G ratio of 6.91 and a beta of 0.89. The company’s 50 day simple moving average is $179.12 and its 200 day simple moving average is $203.04.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.06. The business had revenue of $219.46 million for the quarter, compared to analyst estimates of $218.05 million. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business earned $1.72 earnings per share. Sell-side analysts anticipate that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current fiscal year.

About MarketAxess

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.