Fifth Third Bancorp Increases Stake in MarketAxess Holdings Inc. $MKTX

Fifth Third Bancorp boosted its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 351.5% during the 1st quarter, Holdings Channel reports. The firm owned 10,140 shares of the financial services provider’s stock after acquiring an additional 7,894 shares during the quarter. Fifth Third Bancorp’s holdings in MarketAxess were worth $1,673,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ancora Advisors LLC grew its holdings in shares of MarketAxess by 1.9% during the third quarter. Ancora Advisors LLC now owns 3,522 shares of the financial services provider’s stock valued at $614,000 after buying an additional 67 shares during the last quarter. Orion Porfolio Solutions LLC raised its stake in MarketAxess by 1.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 4,203 shares of the financial services provider’s stock worth $939,000 after acquiring an additional 69 shares during the last quarter. Krilogy Financial LLC raised its stake in MarketAxess by 1.0% in the 1st quarter. Krilogy Financial LLC now owns 7,884 shares of the financial services provider’s stock worth $1,368,000 after acquiring an additional 77 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in MarketAxess by 200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 80 shares during the period. Finally, Maryland State Retirement & Pension System grew its stake in MarketAxess by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 7,181 shares of the financial services provider’s stock valued at $1,302,000 after purchasing an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group reduced their price objective on MarketAxess from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Piper Sandler dropped their target price on MarketAxess from $175.00 to $128.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Bank of America upgraded shares of MarketAxess from an “underperform” rating to a “neutral” rating and set a $170.00 price target on the stock in a report on Friday, June 12th. Benchmark reissued a “buy” rating on shares of MarketAxess in a research report on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods began coverage on shares of MarketAxess in a research note on Wednesday, April 8th. They set an “outperform” rating and a $195.00 price objective for the company. 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. According to MarketBeat.com, MarketAxess has an average rating of “Hold” and a consensus price target of $163.18.

MarketAxess Price Performance

Shares of MKTX opened at $112.95 on Thursday. The business’s 50-day moving average is $121.51 and its two-hundred day moving average is $153.81. The company has a market capitalization of $4.01 billion, a P/E ratio of 13.35, a P/E/G ratio of 3.02 and a beta of 0.88. MarketAxess Holdings Inc. has a fifty-two week low of $108.75 and a fifty-two week high of $214.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.17 and a current ratio of 2.17.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Thursday, May 7th. The financial services provider reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.10. MarketAxess had a return on equity of 22.28% and a net margin of 35.53%.The business had revenue of $233.38 million during the quarter, compared to analysts’ expectations of $231.91 million. During the same quarter in the previous year, the firm posted $1.87 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Research analysts predict that MarketAxess Holdings Inc. will post 8.01 earnings per share for the current year.

About MarketAxess

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.