M&T Bank Corp Boosts Holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX)

M&T Bank Corp lifted its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 20.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,756 shares of the financial services provider’s stock after buying an additional 301 shares during the period. M&T Bank Corp’s holdings in MarketAxess were worth $380,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Allianz SE purchased a new position in shares of MarketAxess in the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB lifted its position in MarketAxess by 49.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider’s stock worth $35,000 after buying an additional 54 shares during the period. Huntington National Bank lifted its holdings in shares of MarketAxess by 185.7% during the 4th quarter. Huntington National Bank now owns 160 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 104 shares during the period. UMB Bank n.a. boosted its holdings in shares of MarketAxess by 57.4% in the 1st quarter. UMB Bank n.a. now owns 222 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 81 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of MarketAxess in the 1st quarter valued at $56,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

MarketAxess Trading Up 0.5%

Shares of MKTX stock opened at $215.53 on Thursday. The firm has a fifty day simple moving average of $219.93 and a 200-day simple moving average of $215.44. The company has a market capitalization of $8.08 billion, a PE ratio of 37.48, a price-to-earnings-growth ratio of 2.82 and a beta of 0.85. MarketAxess Holdings Inc. has a twelve month low of $186.84 and a twelve month high of $296.68.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.05. The company had revenue of $208.58 million during the quarter, compared to analysts’ expectations of $211.81 million. MarketAxess had a net margin of 26.57% and a return on equity of 19.93%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $1.92 EPS. Equities research analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MKTX. Citigroup increased their target price on MarketAxess from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Wall Street Zen raised MarketAxess from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Bank of America increased their target price on shares of MarketAxess from $189.00 to $191.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 2nd. William Blair started coverage on shares of MarketAxess in a research report on Friday, April 4th. They set an “outperform” rating on the stock. Finally, Piper Sandler reissued a “neutral” rating and issued a $204.00 price objective (up previously from $202.00) on shares of MarketAxess in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, MarketAxess has an average rating of “Hold” and an average target price of $240.67.

MarketAxess 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.