RDST Capital LLC Lowers Stake in MarketAxess Holdings Inc. $MKTX

RDST Capital LLC reduced its position in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 295,267 shares of the financial services provider’s stock after selling 15,430 shares during the quarter. MarketAxess makes up about 4.7% of RDST Capital LLC’s investment portfolio, making the stock its 14th largest holding. RDST Capital LLC’s holdings in MarketAxess were worth $48,713,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MUFG Securities EMEA plc purchased a new position in shares of MarketAxess during the 2nd quarter valued at $25,000. Geneos Wealth Management Inc. increased its stake 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 buying an additional 80 shares in the last quarter. Activest Wealth Management bought a new stake in MarketAxess during the fourth quarter valued at about $28,000. Pacer Advisors Inc. raised its holdings in MarketAxess by 300.0% during the fourth quarter. Pacer Advisors Inc. now owns 280 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 210 shares during the period. Finally, Westpac Banking Corp purchased a new position in shares of MarketAxess in the first quarter valued at about $56,000. 99.01% of the stock is currently owned by institutional investors.

MarketAxess Stock Performance

Shares of NASDAQ:MKTX opened at $122.05 on Wednesday. The firm has a fifty day simple moving average of $119.69 and a two-hundred day simple moving average of $152.10. MarketAxess Holdings Inc. has a 52 week low of $108.75 and a 52 week high of $210.94. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $4.34 billion, a P/E ratio of 14.43, a PEG ratio of 3.17 and a beta of 0.88.

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. MarketAxess had a net margin of 35.53% and a return on equity of 22.28%. The firm had revenue of $233.38 million for the quarter, compared to analysts’ expectations of $231.91 million. During the same period in the prior year, the company earned $1.87 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. On average, analysts expect that MarketAxess Holdings Inc. will post 8.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on MKTX shares. Barclays cut their target price on MarketAxess from $170.00 to $132.00 and set an “equal weight” rating for the company in a research report on Thursday, July 9th. The Goldman Sachs Group cut their price objective on shares of MarketAxess from $168.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. 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 report on Thursday, June 11th. Weiss Ratings downgraded shares of MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Finally, Bank of America upgraded shares of MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 target price for the company in a research report on Friday, June 12th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $163.18.

About MarketAxess

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.