MarketAxess Holdings Inc. (NASDAQ:MKTX) Shares Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd expanded its stake in MarketAxess Holdings Inc. by 646.4% during the first quarter, now owning 9,531 shares valued at approximately $2.06 million.
• MarketAxess reported earnings per share of $1.87 for the last quarter, surpassing analysts' expectations, although revenue fell slightly year-over-year.
• The stock has experienced significant ratings changes, with UBS Group maintaining a "buy" rating and a price target of $295.00, while Barclays has reduced its price target to $237.00.

XTX Topco Ltd raised its position in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 646.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,531 shares of the financial services provider's stock after purchasing an additional 8,254 shares during the quarter. XTX Topco Ltd's holdings in MarketAxess were worth $2,062,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its holdings in MarketAxess by 49.1% in the first 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 during the period. Huntington National Bank raised its stake in shares of MarketAxess by 185.7% in the 4th quarter. Huntington National Bank now owns 160 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 104 shares during the period. UMB Bank n.a. raised its stake in shares of MarketAxess by 57.4% in the 1st quarter. UMB Bank n.a. now owns 222 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 81 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of MarketAxess during the 1st quarter valued at $56,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in MarketAxess during the 4th quarter worth $63,000. 99.01% of the stock is owned by institutional investors and hedge funds.

MarketAxess Price Performance

NASDAQ MKTX opened at $210.09 on Thursday. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 36.54, a price-to-earnings-growth ratio of 2.73 and a beta of 0.85. MarketAxess Holdings Inc. has a 12 month low of $186.84 and a 12 month high of $296.68. The company's fifty day moving average price is $218.30 and its two-hundred day moving average price is $214.61.

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

Analyst Upgrades and Downgrades

MKTX has been the topic of several research reports. UBS Group reissued a "buy" rating and issued a $295.00 price objective on shares of MarketAxess in a research report on Tuesday, July 8th. William Blair assumed coverage on MarketAxess in a research report on Friday, April 4th. They set an "outperform" rating on the stock. Barclays decreased their price target on MarketAxess from $240.00 to $237.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price objective on shares of MarketAxess from $223.00 to $226.00 and gave the company a "market perform" rating in a research note on Thursday, May 8th. Finally, Piper Sandler restated a "neutral" rating and issued a $204.00 target price (up from $202.00) on shares of MarketAxess in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $240.67.

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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