MarketAxess Holdings Inc. $MKTX Stock Holdings Boosted by Cwm LLC

Key Points

• Cwm LLC significantly increased its holdings in MarketAxess Holdings Inc. by 342.4% during the second quarter, acquiring an additional 14,792 shares to own a total of 19,112 shares, valued at approximately $4.27 million.
• MarketAxess reported quarterly earnings of $2.00 per share, exceeding analysts' expectations of $1.94, with revenue up 11.0% year-over-year to $219.46 million.
• Wall Street analysts have a mixed outlook on MarketAxess, with five analysts rating the stock as a Buy and seven as a Hold, resulting in an average target price of $216.58.

Cwm LLC lifted its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 342.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 19,112 shares of the financial services provider's stock after acquiring an additional 14,792 shares during the period. Cwm LLC owned 0.05% of MarketAxess worth $4,268,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC grew its position in shares of MarketAxess by 21.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,447 shares of the financial services provider's stock worth $993,000 after acquiring an additional 797 shares during the last quarter. waypoint wealth counsel bought a new position in MarketAxess in the 2nd quarter valued at about $224,000. Stiles Financial Services Inc grew its position in MarketAxess by 4.4% in the 2nd quarter. Stiles Financial Services Inc now owns 8,006 shares of the financial services provider's stock valued at $1,788,000 after buying an additional 337 shares in the last quarter. IFP Advisors Inc grew its position in MarketAxess by 31.6% in the 2nd quarter. IFP Advisors Inc now owns 587 shares of the financial services provider's stock valued at $131,000 after buying an additional 141 shares in the last quarter. Finally, Blair William & Co. IL bought a new position in MarketAxess in the 2nd quarter valued at about $287,000. Institutional investors own 99.01% of the company's stock.

MarketAxess Trading Down 0.3%

NASDAQ:MKTX opened at $171.07 on Friday. MarketAxess Holdings Inc. has a twelve month low of $161.61 and a twelve month high of $296.68. The company has a 50-day moving average of $181.16 and a 200-day moving average of $204.72. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 6.92 and a beta of 0.89.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.06. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The company had revenue of $219.46 million during the quarter, compared to analyst estimates of $218.05 million. During the same quarter last year, the firm posted $1.72 EPS. The business's revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts forecast that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

Insider Transactions at MarketAxess

In other MarketAxess news, Director Stephen P. Casper sold 1,600 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $186.59, for a total transaction of $298,544.00. Following the completion of the sale, the director directly owned 43,208 shares of the company's stock, valued at approximately $8,062,180.72. This represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Kevin M. Mcpherson sold 1,494 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $185.32, for a total transaction of $276,868.08. Following the sale, the executive directly owned 67,681 shares of the company's stock, valued at $12,542,642.92. This represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of MarketAxess in a research report on Wednesday, October 8th. Barclays decreased their target price on shares of MarketAxess from $200.00 to $186.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 8th. Piper Sandler set a $180.00 target price on shares of MarketAxess in a research report on Tuesday. UBS Group decreased their target price on shares of MarketAxess from $255.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday, October 7th. Finally, Argus upgraded shares of MarketAxess from a "hold" rating to a "buy" rating and set a $212.00 target price for the company in a research report on Monday, August 25th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $216.58.

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.

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