TCG Advisory Services LLC Makes New $4.29 Million Investment in MarketAxess Holdings Inc. (NASDAQ:MKTX)

TCG Advisory Services LLC bought a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,647 shares of the financial services provider's stock, valued at approximately $4,289,000.

Several other hedge funds have also modified their holdings of MKTX. Allworth Financial LP raised its stake in MarketAxess by 347.6% during the 4th quarter. Allworth Financial LP now owns 94 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 73 shares during the period. Gladius Capital Management LP grew its holdings in shares of MarketAxess by 39.6% during the 3rd quarter. Gladius Capital Management LP now owns 134 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 38 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of MarketAxess by 47.3% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 134 shares of the financial services provider's stock worth $39,000 after acquiring an additional 43 shares in the last quarter. CVA Family Office LLC acquired a new stake in MarketAxess during the fourth quarter valued at $50,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in MarketAxess in the fourth quarter valued at about $57,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MKTX shares. Barclays reduced their price target on MarketAxess from $239.00 to $236.00 and set an "equal weight" rating for the company in a report on Monday, April 8th. The Goldman Sachs Group decreased their price objective on shares of MarketAxess from $263.00 to $225.00 and set a "neutral" rating for the company in a report on Thursday, February 1st. Piper Sandler reduced their price target on MarketAxess from $250.00 to $237.00 and set a "neutral" rating for the company in a research report on Friday, April 12th. William Blair reissued an "outperform" rating on shares of MarketAxess in a report on Tuesday, January 23rd. Finally, Morgan Stanley lifted their price target on shares of MarketAxess from $278.00 to $279.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, MarketAxess currently has an average rating of "Hold" and a consensus price target of $252.80.

MarketAxess Trading Down 2.5 %

NASDAQ:MKTX traded down $5.30 during trading hours on Friday, hitting $203.82. 505,834 shares of the company traded hands, compared to its average volume of 367,799. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 29.75, a P/E/G ratio of 4.26 and a beta of 0.98. The firm has a 50-day moving average of $213.67 and a 200 day moving average of $235.41. MarketAxess Holdings Inc. has a twelve month low of $199.33 and a twelve month high of $303.85.

MarketAxess (NASDAQ:MKTX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.11. The company had revenue of $197.20 million for the quarter, compared to analyst estimates of $196.70 million. MarketAxess had a return on equity of 21.76% and a net margin of 34.29%. MarketAxess's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 EPS. Equities research analysts predict that MarketAxess Holdings Inc. will post 7.28 earnings per share for the current fiscal year.

Insider Activity

In related news, CRO Kevin M. Mcpherson sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $221.26, for a total transaction of $442,520.00. Following the completion of the transaction, the executive now owns 70,092 shares in the company, valued at approximately $15,508,555.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by company insiders.

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.