MarketAxess Holdings Inc. $MKTX Shares Acquired by Flossbach Von Storch SE

Key Points

• Flossbach Von Storch SE increased its stake in MarketAxess (NASDAQ:MKTX) by 17.8% in Q4, adding 14,100 shares to hold 93,100 shares worth about $16.87 million, representing roughly 0.25% of the company.
• Analysts' consensus remains a Hold with an average price target of $201.11, and several firms recently trimmed price targets (e.g., Piper Sandler to $175, UBS to $225), leaving three Buy and seven Hold ratings.
• MarketAxess missed Q4 expectations—EPS $1.68 vs. $1.72 consensus and revenue $209.41M vs. $214.06M—its shares were down ~1.9%, with a market cap of ~$5.69 billion and a PE ratio of 24.04.

Flossbach Von Storch SE boosted its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 93,100 shares of the financial services provider's stock after buying an additional 14,100 shares during the quarter. Flossbach Von Storch SE owned 0.25% of MarketAxess worth $16,874,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. boosted its stake in shares of MarketAxess by 7.4% during the 4th quarter. D.A. Davidson & CO. now owns 20,234 shares of the financial services provider's stock worth $3,667,000 after acquiring an additional 1,399 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of MarketAxess by 6.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,320 shares of the financial services provider's stock valued at $964,000 after purchasing an additional 310 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of MarketAxess by 17.3% in the 4th quarter. Sanctuary Advisors LLC now owns 14,131 shares of the financial services provider's stock valued at $2,561,000 after purchasing an additional 2,079 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in shares of MarketAxess by 16.7% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 9,202 shares of the financial services provider's stock valued at $1,668,000 after purchasing an additional 1,314 shares during the period. Finally, Chicago Partners Investment Group LLC increased its stake in MarketAxess by 196.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 3,891 shares of the financial services provider's stock worth $667,000 after purchasing an additional 2,579 shares in the last quarter. Institutional investors own 99.01% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on MKTX. Wall Street Zen upgraded MarketAxess from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. Piper Sandler dropped their target price on shares of MarketAxess from $180.00 to $175.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 14th. UBS Group cut their price target on shares of MarketAxess from $240.00 to $225.00 and set a "buy" rating on the stock in a report on Friday, January 9th. Barclays reduced their price target on shares of MarketAxess from $182.00 to $178.00 and set an "equal weight" rating for the company in a research report on Monday, February 9th. Finally, Weiss Ratings raised shares of MarketAxess from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, February 10th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, MarketAxess has an average rating of "Hold" and a consensus price target of $201.11.

MarketAxess Trading Down 1.9%

Shares of NASDAQ MKTX opened at $160.13 on Tuesday. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.19. MarketAxess Holdings Inc. has a one year low of $156.17 and a one year high of $232.84. The business has a 50-day moving average price of $175.13 and a two-hundred day moving average price of $172.68. The firm has a market capitalization of $5.69 billion, a PE ratio of 24.04, a PEG ratio of 2.49 and a beta of 1.01.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its earnings results on Friday, February 6th. The financial services provider reported $1.68 earnings per share for the quarter, missing analysts' consensus estimates of $1.72 by ($0.04). The business had revenue of $209.41 million during the quarter, compared to analyst estimates of $214.06 million. MarketAxess had a net margin of 29.14% and a return on equity of 20.88%. MarketAxess's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS. As a group, analysts predict that MarketAxess Holdings Inc. will post 8.15 earnings per share for the current fiscal year.

MarketAxess Company Profile

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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