MarketAxess Holdings Inc. $MKTX Shares Purchased by Readystate Asset Management LP

Readystate Asset Management LP raised its position in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 35.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,794 shares of the financial services provider’s stock after buying an additional 8,859 shares during the period. Readystate Asset Management LP owned approximately 0.10% of MarketAxess worth $3,835,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MKTX. Jones Financial Companies Lllp increased its position in shares of MarketAxess by 151.0% during the first quarter. Jones Financial Companies Lllp now owns 2,683 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 1,614 shares during the last quarter. Empowered Funds LLC boosted its holdings in MarketAxess by 8.4% in the first quarter. Empowered Funds LLC now owns 1,716 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 133 shares during the last quarter. Woodline Partners LP boosted its holdings in MarketAxess by 40.7% in the first quarter. Woodline Partners LP now owns 3,185 shares of the financial services provider’s stock valued at $689,000 after purchasing an additional 921 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in MarketAxess by 200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 80 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in MarketAxess during the 2nd quarter valued at approximately $406,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Piper Sandler dropped their price objective on MarketAxess from $175.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Morgan Stanley reduced their target price on MarketAxess from $195.00 to $129.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Bank of America raised shares of MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 price target for the company in a research report on Friday, June 12th. Barclays lifted their price target on shares of MarketAxess from $132.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Finally, Rothschild & Co Redburn reiterated a “neutral” rating and set a $134.00 price objective (down from $189.00) on shares of MarketAxess in a research note on Thursday, June 11th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $156.10.

MarketAxess Price Performance

Shares of MarketAxess stock opened at $163.38 on Monday. The business has a 50-day moving average price of $141.03 and a 200 day moving average price of $150.14. MarketAxess Holdings Inc. has a fifty-two week low of $108.75 and a fifty-two week high of $195.96. The firm has a market cap of $5.75 billion, a P/E ratio of 19.27, a P/E/G ratio of 2.08 and a beta of 0.83. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.09.

MarketAxess (NASDAQ:MKTX) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.10. The company had revenue of $218.41 million for the quarter, compared to the consensus estimate of $216.70 million. MarketAxess had a return on equity of 22.48% and a net margin of 35.22%.MarketAxess’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $2.00 EPS. On average, sell-side analysts forecast that MarketAxess Holdings Inc. will post 8.06 earnings per share for the current fiscal year.

MarketAxess Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 19th. MarketAxess’s dividend payout ratio is currently 36.79%.

MarketAxess 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.