International Assets Investment Management LLC Has $5.79 Million Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

International Assets Investment Management LLC boosted its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 25,593.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 22,610 shares of the financial services provider’s stock after purchasing an additional 22,522 shares during the quarter. International Assets Investment Management LLC’s holdings in MarketAxess were worth $5,793,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Retirement Planning Co of New England Inc. raised its stake in MarketAxess by 2.9% during the second quarter. Retirement Planning Co of New England Inc. now owns 1,566 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 44 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of MarketAxess by 0.7% during the second quarter. Nisa Investment Advisors LLC now owns 7,376 shares of the financial services provider’s stock worth $1,479,000 after purchasing an additional 52 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 worth $324,000 after purchasing an additional 76 shares during the last quarter. CVA Family Office LLC grew its holdings in shares of MarketAxess by 47.4% during the second quarter. CVA Family Office LLC now owns 252 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 81 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of MarketAxess by 2.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,507 shares of the financial services provider’s stock worth $898,000 after purchasing an additional 90 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citigroup increased their target price on MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Morgan Stanley increased their target price on MarketAxess from $262.00 to $314.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Bank of America decreased their target price on MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group increased their target price on MarketAxess from $204.00 to $233.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Finally, Piper Sandler raised their price target on MarketAxess from $235.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $253.30.

MarketAxess Price Performance

Shares of MKTX opened at $289.42 on Friday. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.01. MarketAxess Holdings Inc. has a 1 year low of $192.42 and a 1 year high of $297.97. The stock has a market cap of $10.93 billion, a P/E ratio of 41.70, a price-to-earnings-growth ratio of 6.42 and a beta of 1.08. The stock’s 50-day moving average price is $264.54 and its two-hundred day moving average price is $229.70.

MarketAxess (NASDAQ:MKTX) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. MarketAxess had a return on equity of 20.43% and a net margin of 33.71%. The firm had revenue of $197.70 million for the quarter, compared to analysts’ expectations of $198.07 million. During the same quarter last year, the business earned $1.63 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. On average, equities analysts predict that MarketAxess Holdings Inc. will post 7.26 earnings per share for the current year.

MarketAxess announced that its board has approved a share buyback program on Tuesday, August 6th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 2.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other MarketAxess news, insider Christophe Pierre Danie Roupie sold 617 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $231.63, for a total transaction of $142,915.71. Following the transaction, the insider now owns 7,409 shares in the company, valued at approximately $1,716,146.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.66% of the company’s stock.

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.