TCG Advisory Services LLC Invests $4.29 Million in MarketAxess Holdings Inc. (NASDAQ:MKTX)

TCG Advisory Services LLC bought a new position in MarketAxess Holdings Inc. (NASDAQ:MKTX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,647 shares of the financial services provider’s stock, valued at approximately $4,289,000.

A number of other hedge funds have also modified their holdings of the stock. Allworth Financial LP increased its holdings in MarketAxess by 347.6% during the 4th quarter. Allworth Financial LP now owns 94 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 73 shares in the last quarter. Gladius Capital Management LP increased its holdings in MarketAxess by 39.6% during the 3rd quarter. Gladius Capital Management LP now owns 134 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 38 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in MarketAxess by 47.3% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 134 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 43 shares in the last quarter. CVA Family Office LLC acquired a new stake in MarketAxess during the 4th quarter valued at $50,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in MarketAxess during the 4th quarter valued at $57,000. 99.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MKTX. William Blair reissued an “outperform” rating on shares of MarketAxess in a research note on Tuesday, January 23rd. Bank of America began coverage on MarketAxess in a research note on Wednesday, April 10th. They issued an “underperform” rating and a $199.00 target price for the company. Barclays lowered their target price on MarketAxess from $239.00 to $236.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Morgan Stanley lifted their target price on MarketAxess from $278.00 to $279.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group lowered their target price on MarketAxess from $263.00 to $225.00 and set a “neutral” rating for the company in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, MarketAxess has an average rating of “Hold” and a consensus price target of $252.80.

Insiders Place Their Bets

In other MarketAxess news, CRO Kevin M. Mcpherson sold 2,000 shares of MarketAxess stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $221.26, for a total transaction of $442,520.00. Following the transaction, the executive now directly owns 70,092 shares in the company, valued at $15,508,555.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

MarketAxess Trading Down 2.5 %

Shares of NASDAQ:MKTX traded down $5.30 during midday trading on Friday, hitting $203.82. The company had a trading volume of 505,834 shares, compared to its average volume of 367,799. MarketAxess Holdings Inc. has a 12 month low of $199.33 and a 12 month high of $303.85. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 4.26 and a beta of 0.98. The firm has a fifty day simple moving average of $213.67 and a 200 day simple moving average of $235.41.

MarketAxess (NASDAQ:MKTX) last posted its earnings results on Wednesday, January 31st. The financial services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.11. The firm had revenue of $197.20 million for the quarter, compared to analyst estimates of $196.70 million. MarketAxess had a return on equity of 21.76% and a net margin of 34.29%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.58 earnings per share. Equities analysts forecast that MarketAxess Holdings Inc. will post 7.28 EPS for the current fiscal year.

MarketAxess Company Profile

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.