Envestnet Portfolio Solutions Inc. Increases Stock Position in MarketAxess Holdings Inc. $MKTX

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in MarketAxess Holdings Inc. by 45.2% in Q2, owning 34,020 shares valued at approximately $7.6 million.
• The company reported $2.00 EPS for the last quarter, exceeding analyst expectations of $1.94, with a revenue increase of 11% compared to the previous year.
• Hedge funds and institutional investors control 99.01% of MarketAxess's stock, indicating strong interest in the company from large investment firms.

Envestnet Portfolio Solutions Inc. boosted its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 45.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,020 shares of the financial services provider's stock after purchasing an additional 10,594 shares during the quarter. Envestnet Portfolio Solutions Inc. owned about 0.09% of MarketAxess worth $7,598,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. T. Rowe Price Investment Management Inc. lifted its stake in MarketAxess by 1.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,323,015 shares of the financial services provider's stock worth $502,585,000 after purchasing an additional 24,606 shares in the last quarter. Findlay Park Partners LLP raised its position in shares of MarketAxess by 1.4% during the 1st quarter. Findlay Park Partners LLP now owns 680,000 shares of the financial services provider's stock valued at $147,118,000 after buying an additional 9,100 shares in the last quarter. Millennium Management LLC raised its position in shares of MarketAxess by 329.4% during the 1st quarter. Millennium Management LLC now owns 618,922 shares of the financial services provider's stock valued at $133,904,000 after buying an additional 474,776 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in shares of MarketAxess by 64.8% during the 1st quarter. Burgundy Asset Management Ltd. now owns 402,511 shares of the financial services provider's stock valued at $87,083,000 after buying an additional 158,240 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of MarketAxess by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 372,468 shares of the financial services provider's stock valued at $80,583,000 after buying an additional 9,244 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company's stock.

MarketAxess Price Performance

Shares of MKTX stock opened at $171.08 on Wednesday. The company has a market capitalization of $6.39 billion, a P/E ratio of 28.80, a P/E/G ratio of 6.88 and a beta of 0.89. The company's 50-day simple moving average is $181.73 and its two-hundred day simple moving average is $205.27. MarketAxess Holdings Inc. has a one year low of $161.61 and a one year high of $296.68.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $2.00 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.06. The business had revenue of $219.46 million for the quarter, compared to the consensus estimate of $218.05 million. MarketAxess had a net margin of 26.62% and a return on equity of 20.41%. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 EPS. On average, research analysts expect that MarketAxess Holdings Inc. will post 7.79 EPS for the current fiscal year.

Insider Transactions at MarketAxess

In other news, Director Stephen P. Casper sold 1,600 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $186.59, for a total transaction of $298,544.00. Following the transaction, the director directly owned 43,208 shares in the company, valued at approximately $8,062,180.72. This trade represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Kevin M. Mcpherson sold 1,494 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $185.32, for a total transaction of $276,868.08. Following the transaction, the executive owned 67,681 shares in the company, valued at approximately $12,542,642.92. This represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Jefferies Financial Group decreased their target price on shares of MarketAxess from $217.00 to $208.00 and set a "hold" rating on the stock in a research report on Monday, August 11th. Barclays decreased their target price on shares of MarketAxess from $200.00 to $186.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 8th. UBS Group decreased their target price on shares of MarketAxess from $255.00 to $240.00 and set a "buy" rating on the stock in a research report on Tuesday, October 7th. Argus upgraded shares of MarketAxess from a "hold" rating to a "buy" rating and set a $212.00 target price on the stock in a research report on Monday, August 25th. Finally, Loop Capital set a $164.00 price objective on shares of MarketAxess in a research report on Tuesday. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MarketAxess presently has an average rating of "Hold" and an average target price of $216.58.

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.

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