HB Wealth Management LLC Takes Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Key Points

• HB Wealth Management LLC acquired a new stake of 1,385 shares in MarketAxess Holdings Inc., valued at around $300,000, during the first quarter of 2023.
• MarketAxess reported earnings of $1.87 per share for the latest quarter, surpassing the consensus estimate by $0.05, despite a slight year-over-year revenue decrease of 0.8%.
• Recent analyst ratings show a mixed outlook, with two analysts rating it as a sell, five as hold, and four as buy, while the average price target sits at $240.67.

HB Wealth Management LLC bought a new stake in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,385 shares of the financial services provider's stock, valued at approximately $300,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in MarketAxess by 49.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 54 shares in the last quarter. State of Wyoming lifted its holdings in MarketAxess by 13.6% in the 4th quarter. State of Wyoming now owns 483 shares of the financial services provider's stock valued at $109,000 after purchasing an additional 58 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in MarketAxess by 3.7% in the 4th quarter. Guggenheim Capital LLC now owns 1,701 shares of the financial services provider's stock valued at $384,000 after purchasing an additional 61 shares in the last quarter. Colonial Trust Co SC lifted its holdings in shares of MarketAxess by 20.2% during the 4th quarter. Colonial Trust Co SC now owns 422 shares of the financial services provider's stock worth $95,000 after acquiring an additional 71 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of MarketAxess by 19.6% during the 1st quarter. IFP Advisors Inc now owns 446 shares of the financial services provider's stock worth $97,000 after acquiring an additional 73 shares during the period. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of MarketAxess from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Morgan Stanley cut their price objective on shares of MarketAxess from $283.00 to $274.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Barclays cut their price objective on shares of MarketAxess from $240.00 to $237.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Citigroup increased their price objective on shares of MarketAxess from $250.00 to $265.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of MarketAxess from $223.00 to $226.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, MarketAxess has a consensus rating of "Hold" and a consensus price target of $240.67.

MarketAxess Trading Up 1.1%

NASDAQ:MKTX traded up $2.25 during trading hours on Friday, hitting $207.75. The stock had a trading volume of 416,260 shares, compared to its average volume of 355,219. MarketAxess Holdings Inc. has a 1-year low of $186.84 and a 1-year high of $296.68. The business has a 50 day simple moving average of $217.69 and a two-hundred day simple moving average of $214.36. The company has a market cap of $7.79 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 2.74 and a beta of 0.84.

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

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.