denkapparat Operations GmbH Grows Stock Position in MarketAxess Holdings Inc. $MKTX

Key Points

• denkapparat Operations GmbH increased its MarketAxess stake by 310.3% in the second quarter, bringing its holdings to 10,562 shares valued at approximately $1.2 million. Institutional investors collectively own 99.01% of MKTX.
• Analyst sentiment remains cautious: the stock has an overall “Hold” consensus, with 11 Hold, one Buy, and one Sell rating. The consensus price target is $156.10 after several brokerages recently lowered their targets.
• MarketAxess exceeded quarterly earnings and revenue estimates, reporting $1.95 in EPS and $218.41 million in revenue, though revenue declined 0.5% year over year. The company pays a quarterly dividend of $0.78, equivalent to a 1.9% annual yield.

denkapparat Operations GmbH boosted its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 310.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,562 shares of the financial services provider's stock after acquiring an additional 7,988 shares during the period. denkapparat Operations GmbH's holdings in MarketAxess were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MKTX. MUFG Securities EMEA plc acquired a new stake in shares of MarketAxess in the second quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its stake in MarketAxess by 200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider's stock valued at $26,000 after buying an additional 80 shares in the last quarter. Pacer Advisors Inc. lifted its stake in MarketAxess by 300.0% in the 4th quarter. Pacer Advisors Inc. now owns 280 shares of the financial services provider's stock valued at $51,000 after buying an additional 210 shares in the last quarter. Westpac Banking Corp acquired a new stake in MarketAxess during the 1st quarter valued at $56,000. Finally, Versant Capital Management Inc grew its holdings in MarketAxess by 215.3% during the 2nd quarter. Versant Capital Management Inc now owns 391 shares of the financial services provider's stock valued at $44,000 after buying an additional 267 shares during the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MKTX. Rothschild & Co Redburn restated a "neutral" rating and issued a $134.00 price objective (down from $189.00) on shares of MarketAxess in a research report on Thursday, June 11th. Bank of America upgraded MarketAxess from an "underperform" rating to a "neutral" rating and set a $170.00 price objective for the company in a research report on Friday, June 12th. UBS Group downgraded shares of MarketAxess from a "buy" rating to a "neutral" rating and cut their target price for the company from $200.00 to $167.00 in a research note on Friday, July 31st. Piper Sandler reduced their target price on shares of MarketAxess from $175.00 to $128.00 and set a "neutral" rating on the stock in a report on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of MarketAxess in a research note on Monday, August 3rd. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $156.10.

MarketAxess Stock Up 0.3%

Shares of MKTX opened at $163.34 on Friday. MarketAxess Holdings Inc. has a fifty-two week low of $108.75 and a fifty-two week high of $195.96. The company's fifty day moving average is $140.01 and its two-hundred day moving average is $150.25. The firm has a market cap of $5.75 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 2.08 and a beta of 0.83. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.09.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.10. MarketAxess had a return on equity of 22.48% and a net margin of 35.22%.The business had revenue of $218.41 million for the quarter, compared to analyst estimates of $216.70 million. During the same period last year, the company posted $2.00 EPS. The business's quarterly revenue was down .5% on a year-over-year basis. Analysts forecast that MarketAxess Holdings Inc. will post 8.06 earnings per share for the current year.

MarketAxess Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 19th. MarketAxess's dividend payout ratio (DPR) is 36.79%.

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.

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