Bank of New York Mellon Corp Has $47.83 Million Position in MarketAxess Holdings Inc. $MKTX

Bank of New York Mellon Corp lessened its stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 2.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 289,940 shares of the financial services provider’s stock after selling 8,788 shares during the quarter. Bank of New York Mellon Corp owned about 0.82% of MarketAxess worth $47,834,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. MUFG Securities EMEA plc bought a new stake in MarketAxess in the 2nd quarter valued at $25,000. Geneos Wealth Management Inc. grew its stake in shares of MarketAxess by 200.0% in the first quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 80 shares in the last quarter. Activest Wealth Management bought a new position in MarketAxess during the fourth quarter worth about $28,000. Pacer Advisors Inc. raised its stake in MarketAxess by 300.0% in the 4th quarter. Pacer Advisors Inc. now owns 280 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 210 shares in the last quarter. Finally, Allworth Financial LP raised its stake in MarketAxess by 29.4% in the 3rd quarter. Allworth Financial LP now owns 401 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 91 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MKTX. Weiss Ratings cut shares of MarketAxess from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. 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 research report on Friday, June 12th. Keefe, Bruyette & Woods began coverage on shares of MarketAxess in a research report on Wednesday, April 8th. They set an “outperform” rating and a $195.00 price objective for the company. Rothschild & Co Redburn reissued a “neutral” rating and set a $134.00 target price (down from $189.00) on shares of MarketAxess in a research note on Thursday, June 11th. Finally, Piper Sandler dropped their target price on shares of MarketAxess from $175.00 to $128.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, MarketAxess has a consensus rating of “Hold” and an average price target of $163.18.

MarketAxess Trading Up 2.1%

NASDAQ:MKTX opened at $116.69 on Friday. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.19. MarketAxess Holdings Inc. has a 12 month low of $108.75 and a 12 month high of $214.42. The firm has a fifty day simple moving average of $120.55 and a two-hundred day simple moving average of $153.10. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 3.07 and a beta of 0.88.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $2.25 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $231.91 million. During the same quarter in the prior year, the company posted $1.87 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. Analysts expect that MarketAxess Holdings Inc. will post 8.01 EPS for the current fiscal year.

MarketAxess Profile

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.