MarketAxess Holdings Inc. $MKTX Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its MarketAxess stake by 374.5% in the first quarter, adding 114,934 shares to own 145,628 shares valued at approximately $24.0 million. Institutional investors collectively own 99.01% of the company.
• MarketAxess reported quarterly earnings of $2.25 per share, beating estimates of $2.15, while revenue rose 11.9% year over year to $233.38 million. The company has a 12-month trading range of $108.75 to $214.42 and recently opened at $116.69.
• Analyst sentiment remains cautious: MarketAxess has an overall “Hold” rating, with a consensus price target of $163.18, though several firms recently cut their targets and Weiss Ratings downgraded the stock to “Sell.”

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 374.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 145,628 shares of the financial services provider's stock after purchasing an additional 114,934 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.41% of MarketAxess worth $24,026,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. MUFG Securities EMEA plc acquired a new stake in shares of MarketAxess in the 2nd quarter worth about $25,000. Geneos Wealth Management Inc. grew its position in MarketAxess by 200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider's stock worth $26,000 after purchasing an additional 80 shares during the last quarter. Activest Wealth Management bought a new position in MarketAxess in the 4th quarter worth about $28,000. Pacer Advisors Inc. increased its stake in shares of MarketAxess by 300.0% in the fourth quarter. Pacer Advisors Inc. now owns 280 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 210 shares during the period. Finally, Westpac Banking Corp acquired a new stake in shares of MarketAxess in the first quarter valued at approximately $56,000. Institutional investors own 99.01% of the company's stock.

MarketAxess Stock Performance

MarketAxess stock opened at $116.69 on Monday. The firm has a 50 day simple moving average of $120.55 and a 200-day simple moving average of $152.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.17 and a quick ratio of 2.17. The stock has a market capitalization of $4.15 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 3.14 and a beta of 0.88. MarketAxess Holdings Inc. has a 12-month low of $108.75 and a 12-month high of $214.42.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.10. The business had revenue of $233.38 million for the quarter, compared to analyst estimates of $231.91 million. MarketAxess had a net margin of 35.53% and a return on equity of 22.28%. The business's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $1.87 earnings per share. As a group, equities research analysts expect that MarketAxess Holdings Inc. will post 8.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Benchmark reiterated a "buy" rating on shares of MarketAxess in a research report on Wednesday, July 8th. Rothschild & Co Redburn restated a "neutral" rating and issued a $134.00 target price (down from $189.00) on shares of MarketAxess in a research report on Thursday, June 11th. Piper Sandler cut their target price on MarketAxess from $175.00 to $128.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings lowered MarketAxess from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, May 6th. Finally, Barclays decreased their price target on MarketAxess from $170.00 to $132.00 and set an "equal weight" rating for the company in a research note on Thursday, July 9th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $163.18.

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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