Pallas Capital Advisors LLC Makes New $258,000 Investment in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Pallas Capital Advisors LLC purchased a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTXFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,142 shares of the financial services provider’s stock, valued at approximately $258,000.

Other institutional investors have also recently bought and sold shares of the company. Accent Capital Management LLC acquired a new stake in shares of MarketAxess in the 3rd quarter valued at $25,000. Goodman Advisory Group LLC acquired a new stake in shares of MarketAxess in the 2nd quarter valued at $27,000. Exchange Traded Concepts LLC acquired a new stake in shares of MarketAxess in the 3rd quarter valued at $54,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of MarketAxess by 555.6% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 236 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 200 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of MarketAxess by 160.3% in the 3rd quarter. Assetmark Inc. now owns 380 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 234 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Trading Up 0.5 %

Shares of NASDAQ:MKTX opened at $217.82 on Thursday. The stock has a market capitalization of $8.21 billion, a P/E ratio of 29.51, a P/E/G ratio of 9.49 and a beta of 1.03. MarketAxess Holdings Inc. has a 1-year low of $192.42 and a 1-year high of $296.68. The business has a 50-day moving average price of $242.90 and a two-hundred day moving average price of $246.20.

MarketAxess (NASDAQ:MKTXGet Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.05. The firm had revenue of $206.70 million during the quarter, compared to analysts’ expectations of $207.17 million. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 EPS. As a group, equities analysts predict that MarketAxess Holdings Inc. will post 7.38 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on MKTX. UBS Group boosted their target price on shares of MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their target price on shares of MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Piper Sandler reduced their price target on shares of MarketAxess from $265.00 to $240.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Citigroup upped their price target on shares of MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Bank of America reduced their price target on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $261.30.

Read Our Latest Report on MarketAxess

Insider Activity

In other news, General Counsel Scott Pintoff sold 300 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $240.57, for a total value of $72,171.00. Following the completion of the sale, the general counsel now directly owns 8,302 shares of the company’s stock, valued at $1,997,212.14. This represents a 3.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Richard M. Mcvey sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $267.67, for a total value of $2,676,700.00. Following the completion of the sale, the chairman now directly owns 562,029 shares of the company’s stock, valued at approximately $150,438,302.43. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,300 shares of company stock valued at $8,183,871 in the last ninety days. 2.66% of the stock is owned by insiders.

MarketAxess Profile

(Free Report)

MarketAxess Holdings Inc, together with its subsidiaries, operates an electronic trading platform for institutional investor and broker-dealer companies worldwide. The company offers trading technology that provides liquidity access in U.S. high-grade bonds, U.S. high-yield bonds, emerging market debt, eurobonds, municipal bonds, U.S.

See Also

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Institutional Ownership by Quarter for MarketAxess (NASDAQ:MKTX)

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