Retirement Systems of Alabama Cuts Stake in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Retirement Systems of Alabama decreased its position in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 1.9% during the 4th quarter, Holdings Channel reports. The fund owned 8,353 shares of the financial services provider’s stock after selling 166 shares during the quarter. Retirement Systems of Alabama’s holdings in MarketAxess were worth $2,446,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of MarketAxess by 19.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 418,104 shares of the financial services provider’s stock worth $89,324,000 after buying an additional 69,165 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in MarketAxess by 7.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,456 shares of the financial services provider’s stock worth $3,088,000 after acquiring an additional 954 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in MarketAxess by 2.3% in the third quarter. Mackenzie Financial Corp now owns 2,851 shares of the financial services provider’s stock valued at $584,000 after acquiring an additional 65 shares during the period. IFM Investors Pty Ltd boosted its position in shares of MarketAxess by 7.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 6,901 shares of the financial services provider’s stock worth $1,474,000 after purchasing an additional 500 shares in the last quarter. Finally, Inspire Investing LLC grew its stake in shares of MarketAxess by 18.0% during the 3rd quarter. Inspire Investing LLC now owns 5,839 shares of the financial services provider’s stock worth $1,247,000 after purchasing an additional 891 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MarketAxess news, CRO Kevin M. Mcpherson sold 2,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $221.26, for a total value of $442,520.00. Following the transaction, the executive now directly owns 70,092 shares in the company, valued at approximately $15,508,555.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on MKTX. Barclays reduced their price objective on shares of MarketAxess from $239.00 to $236.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Bank of America initiated coverage on MarketAxess in a research note on Wednesday, April 10th. They set an “underperform” rating and a $199.00 price target on the stock. Morgan Stanley raised their price objective on MarketAxess from $278.00 to $279.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Piper Sandler decreased their target price on MarketAxess from $250.00 to $237.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Finally, The Goldman Sachs Group lowered their target price on MarketAxess from $263.00 to $225.00 and set a “neutral” rating on the stock in a report 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 issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $252.80.

MarketAxess Stock Performance

MarketAxess stock opened at $200.89 on Wednesday. MarketAxess Holdings Inc. has a fifty-two week low of $198.01 and a fifty-two week high of $303.85. The stock has a fifty day moving average of $213.24 and a two-hundred day moving average of $234.96. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 4.26 and a beta of 0.98.

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.