iA Global Asset Management Inc. Boosts Stake in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Key Points

• iA Global Asset Management Inc. increased its stake in MarketAxess Holdings Inc. by 28.8% during the first quarter, owning a total of 6,569 shares valued at approximately $1.42 million.
• Other institutional investors also boosted their holdings in MarketAxess, with notable increases from MassMutual Private Wealth & Trust FSB and Federated Hermes Inc.
• MarketAxess reported a quarterly earnings per share (EPS) of $2.00, surpassing estimates and reflecting an 11% increase in revenue year-over-year.

iA Global Asset Management Inc. boosted its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 28.8% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,569 shares of the financial services provider's stock after buying an additional 1,467 shares during the quarter. iA Global Asset Management Inc.'s holdings in MarketAxess were worth $1,421,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB lifted its stake 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 buying an additional 54 shares in the last quarter. State of Wyoming lifted its stake in shares of MarketAxess by 13.6% during the 4th quarter. State of Wyoming now owns 483 shares of the financial services provider's stock worth $109,000 after purchasing an additional 58 shares during the period. Federated Hermes Inc. lifted its stake in shares of MarketAxess by 13.0% during the 1st quarter. Federated Hermes Inc. now owns 522 shares of the financial services provider's stock worth $113,000 after purchasing an additional 60 shares during the period. Guggenheim Capital LLC lifted its stake in shares of MarketAxess by 3.7% during the 4th quarter. Guggenheim Capital LLC now owns 1,701 shares of the financial services provider's stock worth $384,000 after purchasing an additional 61 shares during the period. Finally, Colonial Trust Co SC lifted its stake 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 purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 99.01% of the company's stock.

MarketAxess Price Performance

NASDAQ:MKTX opened at $186.80 on Thursday. The business's 50-day moving average is $216.77 and its two-hundred day moving average is $214.05. MarketAxess Holdings Inc. has a 12 month low of $186.14 and a 12 month high of $296.68. The firm has a market capitalization of $7.01 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 2.74 and a beta of 0.84.

MarketAxess (NASDAQ:MKTX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.94 by $0.06. MarketAxess had a return on equity of 19.93% and a net margin of 26.57%. The company had revenue of $219.46 million for the quarter, compared to analyst estimates of $218.05 million. During the same period last year, the company posted $1.72 earnings per share. The firm's revenue was up 11.0% compared to the same quarter last year. Equities analysts anticipate that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MKTX shares. Keefe, Bruyette & Woods increased their price target on MarketAxess from $223.00 to $226.00 and gave the stock a "market perform" rating in a research note on Thursday, May 8th. Morgan Stanley reduced their price target on MarketAxess from $283.00 to $274.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. UBS Group reaffirmed a "buy" rating and issued a $295.00 target price on shares of MarketAxess in a research report on Tuesday, July 8th. Citigroup increased their target price on MarketAxess from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen lowered MarketAxess from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $240.67.

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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