Edgestream Partners L.P. Acquires Shares of 14,655 MarketAxess Holdings Inc. (NASDAQ:MKTX)

Edgestream Partners L.P. purchased a new position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,655 shares of the financial services provider's stock, valued at approximately $3,171,000.

Other institutional investors also recently added to or reduced their stakes in the company. Allianz SE purchased a new stake in MarketAxess during the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings in MarketAxess by 49.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 164 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 54 shares during the last quarter. Huntington National Bank lifted its holdings in 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 buying an additional 104 shares during the last quarter. UMB Bank n.a. raised its position in shares of MarketAxess by 57.4% during the 1st quarter. UMB Bank n.a. now owns 222 shares of the financial services provider's stock worth $48,000 after purchasing an additional 81 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in MarketAxess in the 1st quarter valued at approximately $56,000. Institutional investors and hedge funds own 99.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group reissued a "buy" rating and set a $295.00 price objective on shares of MarketAxess in a research note on Tuesday, July 8th. William Blair started coverage on MarketAxess in a research note on Friday, April 4th. They issued an "outperform" rating on the stock. Keefe, Bruyette & Woods boosted their target price on MarketAxess from $223.00 to $226.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Morgan Stanley cut their price target on MarketAxess from $283.00 to $274.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Wall Street Zen upgraded MarketAxess from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $240.67.

MarketAxess Trading Down 2.4%

Shares of MKTX traded down $5.10 on Thursday, reaching $210.43. The company's stock had a trading volume of 510,090 shares, compared to its average volume of 499,026. MarketAxess Holdings Inc. has a twelve month low of $186.84 and a twelve month high of $296.68. The firm has a fifty day moving average of $219.61 and a 200-day moving average of $215.34. The stock has a market capitalization of $7.89 billion, a PE ratio of 36.60, a PEG ratio of 2.84 and a beta of 0.85.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.05. The business had revenue of $208.58 million for 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 business's revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.92 EPS. As a group, equities analysts anticipate that MarketAxess Holdings Inc. will post 7.79 EPS for the current fiscal year.

About MarketAxess

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.