Polar Asset Management Partners Inc. Has $17.19 Million Stock Position in MarketAxess Holdings Inc. $MKTX

Polar Asset Management Partners Inc. boosted its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 523.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,174 shares of the financial services provider’s stock after buying an additional 87,474 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in MarketAxess were worth $17,187,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Exchange Traded Concepts LLC lifted its holdings in MarketAxess by 163.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 12,579 shares of the financial services provider’s stock valued at $2,280,000 after purchasing an additional 7,798 shares during the last quarter. CWM LLC grew its stake in MarketAxess by 190.5% during the fourth quarter. CWM LLC now owns 75,665 shares of the financial services provider’s stock worth $13,714,000 after buying an additional 49,619 shares during the last quarter. Alpha Omega Wealth Management LLC bought a new stake in MarketAxess during the fourth quarter worth about $1,326,000. Hunter Perkins Capital Management LLC acquired a new stake in shares of MarketAxess during the fourth quarter worth approximately $3,118,000. Finally, Sivia Capital Partners LLC acquired a new stake in shares of MarketAxess during the second quarter worth approximately $406,000. 99.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on MKTX shares. Barclays reduced their target price on MarketAxess from $170.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Benchmark reiterated a “buy” rating on shares of MarketAxess in a research report on Wednesday, July 8th. Piper Sandler reduced their price objective on MarketAxess from $175.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Finally, The Goldman Sachs Group decreased their target price on MarketAxess from $168.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, MarketAxess presently has an average rating of “Hold” and a consensus price target of $163.18.

MarketAxess Price Performance

Shares of MKTX stock opened at $116.69 on Monday. MarketAxess Holdings Inc. has a 1 year low of $108.75 and a 1 year high of $214.42. The firm’s 50 day moving average is $120.55 and its 200-day moving average is $152.91. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 3.14 and a beta of 0.88. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.19.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $2.25 EPS 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 net margin of 35.53% and a return on equity of 22.28%. MarketAxess’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.87 earnings per share. Sell-side analysts forecast that MarketAxess Holdings Inc. will post 8.01 EPS for the current fiscal 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.