Park Place Capital Corp Acquires Shares of 196 MarketAxess Holdings Inc. (NASDAQ:MKTX)

Park Place Capital Corp bought a new stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 196 shares of the financial services provider’s stock, valued at approximately $44,000.

Other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. raised its holdings in shares of MarketAxess by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 15,431 shares of the financial services provider’s stock valued at $3,953,000 after purchasing an additional 50 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in MarketAxess by 1.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,080 shares of the financial services provider’s stock worth $1,287,000 after purchasing an additional 52 shares during the period. M&T Bank Corp lifted its position in shares of MarketAxess by 4.0% during the 3rd quarter. M&T Bank Corp now owns 1,469 shares of the financial services provider’s stock valued at $376,000 after buying an additional 56 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in MarketAxess by 4.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 76 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its stake in shares of MarketAxess by 6.0% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 1,342 shares of the financial services provider’s stock valued at $344,000 after buying an additional 76 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MKTX. Piper Sandler lowered their price target on MarketAxess from $265.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group increased their price target on shares of MarketAxess from $204.00 to $233.00 and gave the company a “neutral” rating in a report on Monday, September 30th. UBS Group lifted their price objective on shares of MarketAxess from $330.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Citigroup upped their target price on MarketAxess from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Morgan Stanley raised their price target on shares of MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, MarketAxess has an average rating of “Hold” and a consensus price target of $261.30.

Insider Buying and Selling

In related news, Chairman Richard M. Mcvey sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $271.75, for a total transaction of $5,435,000.00. Following the sale, the chairman now directly owns 592,029 shares of the company’s stock, valued at $160,883,880.75. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Scott Pintoff sold 300 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $240.57, for a total transaction of $72,171.00. Following the sale, the general counsel now directly owns 8,302 shares in the company, valued at $1,997,212.14. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,300 shares of company stock worth $8,183,871 in the last three months. Corporate insiders own 2.66% of the company’s stock.

MarketAxess Price Performance

Shares of MKTX stock opened at $225.84 on Friday. The company has a market cap of $8.51 billion, a P/E ratio of 30.60, a PEG ratio of 4.50 and a beta of 1.03. The stock’s 50-day moving average is $237.87 and its 200 day moving average is $247.02. MarketAxess Holdings Inc. has a 1-year low of $192.42 and a 1-year high of $296.68.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.85 by $0.05. The firm had revenue of $206.70 million during the quarter, compared to analyst estimates of $207.17 million. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 EPS. On average, analysts anticipate that MarketAxess Holdings Inc. will post 7.25 EPS for the current year.

About MarketAxess

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.