Elevation Point Wealth Partners LLC Acquires Shares of 2,197 MarketAxess Holdings Inc. (NASDAQ:MKTX)

Elevation Point Wealth Partners LLC acquired a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,197 shares of the financial services provider's stock, valued at approximately $475,000.

Other hedge funds have also bought and sold shares of the company. Keybank National Association OH grew its position in shares of MarketAxess by 18.2% during the 4th quarter. Keybank National Association OH now owns 8,149 shares of the financial services provider's stock worth $1,842,000 after buying an additional 1,256 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in MarketAxess by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 363,224 shares of the financial services provider's stock worth $82,103,000 after acquiring an additional 5,153 shares in the last quarter. Norden Group LLC acquired a new stake in MarketAxess in the fourth quarter worth $539,000. Taika Capital LP bought a new stake in MarketAxess in the fourth quarter valued at $2,689,000. Finally, Raymond James Financial Inc. bought a new stake in MarketAxess in the fourth quarter valued at $46,079,000. Institutional investors own 99.01% of the company's stock.

Analysts Set New Price Targets

MKTX has been the subject of several research reports. Wall Street Zen downgraded MarketAxess from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Bank of America raised their price objective on MarketAxess from $189.00 to $191.00 and gave the company an "underperform" rating in a research note on Wednesday, April 2nd. Morgan Stanley boosted their price objective on MarketAxess from $263.00 to $283.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Piper Sandler cut their target price on MarketAxess from $213.00 to $202.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, UBS Group decreased their price target on shares of MarketAxess from $305.00 to $295.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $241.78.

MarketAxess Stock Down 0.2%

NASDAQ MKTX traded down $0.37 on Monday, reaching $224.88. The company had a trading volume of 286,943 shares, compared to its average volume of 501,314. The company's fifty day moving average is $219.79 and its 200 day moving average is $218.06. MarketAxess Holdings Inc. has a 52-week low of $186.84 and a 52-week high of $296.68. The stock has a market capitalization of $8.43 billion, a P/E ratio of 30.93, a P/E/G ratio of 3.89 and a beta of 0.84.

MarketAxess (NASDAQ:MKTX - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.82 by $0.05. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. The company had revenue of $208.58 million during the quarter, compared to the consensus estimate of $211.81 million. During the same quarter in the prior year, the company posted $1.92 earnings per share. The firm's revenue for the quarter was down .8% on a year-over-year basis. On average, research analysts expect that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 21st were paid a $0.76 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $3.04 annualized dividend and a yield of 1.35%. MarketAxess's dividend payout ratio (DPR) is 52.87%.

MarketAxess 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.