Bull Harbor Capital LLC Acquires New Position in MarketAxess Holdings Inc. $MKTX

Bull Harbor Capital LLC purchased a new stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 6,378 shares of the financial services provider’s stock, valued at approximately $1,052,000.

Several other hedge funds and other institutional investors have also modified their holdings of MKTX. MUFG Securities EMEA plc acquired a new stake in MarketAxess during the second quarter valued at $25,000. Geneos Wealth Management Inc. increased 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 purchased a new stake in shares of MarketAxess during the 4th quarter worth about $28,000. Pacer Advisors Inc. raised its stake in shares of MarketAxess by 300.0% during the 4th quarter. Pacer Advisors Inc. now owns 280 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 210 shares in the last quarter. Finally, Westpac Banking Corp acquired a new stake in shares of MarketAxess during the 1st quarter valued at about $56,000. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

MarketAxess Stock Performance

MKTX opened at $125.73 on Thursday. The firm has a market capitalization of $4.47 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 3.28 and a beta of 0.88. The stock’s 50 day moving average price is $119.45 and its two-hundred day moving average price is $151.77. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.19. MarketAxess Holdings Inc. has a 12-month low of $108.75 and a 12-month high of $210.94.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.10. MarketAxess had a return on equity of 22.28% and a net margin of 35.53%.The company had revenue of $233.38 million during the quarter, compared to analyst estimates of $231.91 million. During the same period in the previous year, the company earned $1.87 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts forecast that MarketAxess Holdings Inc. will post 8.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MKTX shares. Weiss Ratings lowered shares of MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods assumed coverage on shares of MarketAxess in a research report on Wednesday, April 8th. They set an “outperform” rating and a $195.00 target price on the stock. The Goldman Sachs Group cut their target price on MarketAxess from $168.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Piper Sandler decreased their price target on MarketAxess from $175.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 15th. Finally, UBS Group decreased their price target on MarketAxess from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.