Hsbc Holdings PLC Raises Holdings in MarketAxess Holdings Inc. $MKTX

Hsbc Holdings PLC increased its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 638.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,009 shares of the financial services provider’s stock after acquiring an additional 18,165 shares during the quarter. Hsbc Holdings PLC’s holdings in MarketAxess were worth $3,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of MKTX. MUFG Securities EMEA plc bought a new stake in MarketAxess in the second quarter valued at approximately $25,000. Geneos Wealth Management Inc. grew its holdings in shares of MarketAxess by 200.0% in the first 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 bought a new position in shares of MarketAxess in the fourth quarter worth approximately $28,000. Pacer Advisors Inc. increased its stake in shares of MarketAxess by 300.0% in the fourth quarter. Pacer Advisors Inc. now owns 280 shares of the financial services provider’s stock worth $51,000 after buying an additional 210 shares during the period. Finally, Allworth Financial LP increased its stake in shares of MarketAxess by 29.4% in the third quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $70,000 after buying an additional 91 shares during the period. 99.01% of the stock is owned by hedge funds and other institutional investors.

MarketAxess Price Performance

MKTX stock opened at $116.69 on Friday. MarketAxess Holdings Inc. has a 1 year low of $108.75 and a 1 year high of $214.42. The company has a market cap of $4.15 billion, a P/E ratio of 13.79, a PEG ratio of 3.07 and a beta of 0.88. The firm has a 50-day moving average of $120.55 and a 200 day moving average of $153.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.17 and a quick ratio of 2.17.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods started coverage on shares of MarketAxess in a research report on Wednesday, April 8th. They set an “outperform” rating and a $195.00 price target for the company. Rothschild & Co Redburn restated a “neutral” rating and issued a $134.00 price objective (down from $189.00) on shares of MarketAxess in a research report on Thursday, June 11th. Bank of America raised shares of MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 price objective for the company in a research note on Friday, June 12th. Piper Sandler dropped their target price on shares of MarketAxess from $175.00 to $128.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Finally, UBS Group cut their target price on MarketAxess from $215.00 to $200.00 and set a “buy” rating on the stock 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 issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $163.18.

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.