Bull Harbor Capital LLC Invests $1.05 Million in MarketAxess Holdings Inc. $MKTX

Bull Harbor Capital LLC bought a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,378 shares of the financial services provider’s stock, valued at approximately $1,052,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Amundi boosted its holdings in MarketAxess by 803.9% during the first quarter. Amundi now owns 258,708 shares of the financial services provider’s stock worth $42,682,000 after buying an additional 230,087 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of MarketAxess by 9.6% in the first quarter. EverSource Wealth Advisors LLC now owns 3,098 shares of the financial services provider’s stock valued at $511,000 after buying an additional 272 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of MarketAxess by 24.1% during the 1st quarter. California State Teachers Retirement System now owns 43,688 shares of the financial services provider’s stock valued at $7,208,000 after acquiring an additional 8,478 shares during the last quarter. Readystate Asset Management LP lifted its position in shares of MarketAxess by 6.7% during the 1st quarter. Readystate Asset Management LP now owns 24,935 shares of the financial services provider’s stock valued at $4,114,000 after acquiring an additional 1,562 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of MarketAxess by 2.0% during the 1st quarter. Royal Bank of Canada now owns 30,923 shares of the financial services provider’s stock valued at $5,102,000 after acquiring an additional 616 shares during the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MKTX has been the topic of a number of recent research reports. Weiss Ratings cut MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Bank of America raised MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 target price for the company in a report on Friday, June 12th. Keefe, Bruyette & Woods started coverage on MarketAxess in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $195.00 price target for the company. Morgan Stanley dropped their price target on MarketAxess from $195.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Finally, Piper Sandler cut 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. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $163.18.

MarketAxess Trading Up 3.0%

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

MarketAxess (NASDAQ:MKTX) last announced its earnings results on Thursday, May 7th. The financial services provider reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.10. The company had revenue of $233.38 million for the quarter, compared to the consensus estimate of $231.91 million. MarketAxess had a net margin of 35.53% and a return on equity of 22.28%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.87 EPS. Equities analysts anticipate that MarketAxess Holdings Inc. will post 8.01 EPS for the current year.

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.