Bank of New York Mellon Corp Sells 8,788 Shares of MarketAxess Holdings Inc. $MKTX

Bank of New York Mellon Corp cut its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 2.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 289,940 shares of the financial services provider’s stock after selling 8,788 shares during the period. Bank of New York Mellon Corp’s holdings in MarketAxess were worth $47,834,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Primecap Management Co. CA grew its position in shares of MarketAxess by 42.4% in the fourth quarter. Primecap Management Co. CA now owns 3,175,425 shares of the financial services provider’s stock valued at $575,546,000 after purchasing an additional 944,830 shares in the last quarter. AQR Capital Management LLC boosted its stake in MarketAxess by 169.0% in the 4th quarter. AQR Capital Management LLC now owns 2,558,097 shares of the financial services provider’s stock worth $463,655,000 after purchasing an additional 1,607,009 shares during the period. North Reef Capital Management LP grew its holdings in MarketAxess by 76.6% during the 4th quarter. North Reef Capital Management LP now owns 1,609,330 shares of the financial services provider’s stock valued at $291,691,000 after buying an additional 697,972 shares in the last quarter. State Street Corp boosted its position in shares of MarketAxess by 4.6% in the second quarter. State Street Corp now owns 1,532,696 shares of the financial services provider’s stock valued at $342,312,000 after acquiring an additional 67,290 shares during the period. Finally, Bank of Montreal Can grew its stake in MarketAxess by 5,086.4% during the fourth quarter. Bank of Montreal Can now owns 951,024 shares of the financial services provider’s stock valued at $172,373,000 after acquiring an additional 932,687 shares in the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

MarketAxess Trading Up 2.1%

NASDAQ MKTX opened at $116.69 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $4.15 billion, a PE ratio of 13.79, a P/E/G ratio of 3.07 and a beta of 0.88. The stock’s 50 day moving average is $120.55 and its 200 day moving average is $153.10. MarketAxess Holdings Inc. has a twelve month low of $108.75 and a twelve month high of $214.42.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of MarketAxess from $195.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. UBS Group lowered their price target on MarketAxess from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Keefe, Bruyette & Woods assumed coverage on MarketAxess in a report on Wednesday, April 8th. They set an “outperform” rating and a $195.00 price objective for the company. Benchmark reiterated a “buy” rating on shares of MarketAxess in a research report on Wednesday, July 8th. Finally, Barclays cut their price target on shares of MarketAxess from $170.00 to $132.00 and set an “equal weight” rating for the company in a research note on Thursday, July 9th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MarketAxess currently has an average rating of “Hold” and an average target price of $163.18.

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.