Goodman Financial Corp Purchases New Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Key Points

• Goodman Financial Corp has acquired a new position in MarketAxess Holdings Inc., purchasing 72,820 shares worth approximately $15.8 million, making it the institutional investor's 6th largest holding.
• Institutional investors collectively own 99.01% of MarketAxess, with several other firms such as MassMutual and Federated Hermes also increasing their stakes in the company.
• MarketAxess recently reported earnings of $1.87 per share, surpassing analyst expectations, though its revenue saw a 0.8% decline year-over-year.

Goodman Financial Corp purchased a new stake in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 72,820 shares of the financial services provider's stock, valued at approximately $15,755,000. MarketAxess makes up approximately 3.4% of Goodman Financial Corp's investment portfolio, making the stock its 6th biggest holding. Goodman Financial Corp owned about 0.20% of MarketAxess as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB lifted its stake in MarketAxess by 49.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider's stock valued at $35,000 after buying an additional 54 shares during the last quarter. State of Wyoming lifted its stake in MarketAxess by 13.6% in the fourth quarter. State of Wyoming now owns 483 shares of the financial services provider's stock valued at $109,000 after buying an additional 58 shares during the last quarter. Federated Hermes Inc. lifted its stake in MarketAxess by 13.0% in the first quarter. Federated Hermes Inc. now owns 522 shares of the financial services provider's stock valued at $113,000 after buying an additional 60 shares during the last quarter. Guggenheim Capital LLC lifted its stake in MarketAxess by 3.7% in the fourth quarter. Guggenheim Capital LLC now owns 1,701 shares of the financial services provider's stock valued at $384,000 after buying an additional 61 shares during the last quarter. Finally, Colonial Trust Co SC lifted its stake in MarketAxess by 20.2% in the fourth quarter. Colonial Trust Co SC now owns 422 shares of the financial services provider's stock valued at $95,000 after buying an additional 71 shares during the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MKTX has been the subject of several analyst reports. William Blair initiated coverage on MarketAxess in a research note on Friday, April 4th. They set an "outperform" rating for the company. Morgan Stanley cut their price target on MarketAxess from $283.00 to $274.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Barclays cut their price target on MarketAxess from $240.00 to $237.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. UBS Group restated a "buy" rating and set a $295.00 price target on shares of MarketAxess in a research note on Tuesday, July 8th. Finally, Citigroup upped their price target on MarketAxess from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $240.67.

MarketAxess Stock Up 1.4%

MKTX opened at $210.09 on Thursday. The firm has a market cap of $7.88 billion, a P/E ratio of 36.54, a PEG ratio of 2.73 and a beta of 0.85. MarketAxess Holdings Inc. has a 52 week low of $186.84 and a 52 week high of $296.68. The business's fifty day simple moving average is $218.30 and its 200 day simple moving average is $214.61.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.05. MarketAxess had a return on equity of 19.93% and a net margin of 26.57%. The firm had revenue of $208.58 million for the quarter, compared to analyst estimates of $211.81 million. During the same period last year, the company earned $1.92 EPS. The firm's quarterly revenue was down .8% on a year-over-year basis. As a group, equities analysts expect that MarketAxess Holdings Inc. will post 7.79 EPS for the current fiscal year.

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.

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