Jackson Square Partners LLC Sells 19,696 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Key Points

• Jackson Square Partners LLC reduced its holdings in MarketAxess Holdings Inc. by 16.8%, selling 19,696 shares and retaining 97,715 shares as of the latest SEC filing.
• Institutional ownership of MarketAxess stands at 99.01%, with notable increases from firms like LPL Financial LLC, which raised its stake by 192.3% in the last quarter.
• MarketAxess reported an earnings per share (EPS) of $2.00, surpassing analysts' expectations, and its revenue of $219.46 million marked an 11% year-over-year increase.

Jackson Square Partners LLC cut its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 16.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 97,715 shares of the financial services provider's stock after selling 19,696 shares during the quarter. MarketAxess comprises 2.8% of Jackson Square Partners LLC's holdings, making the stock its 10th largest position. Jackson Square Partners LLC owned 0.26% of MarketAxess worth $21,141,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in shares of MarketAxess by 192.3% during the fourth quarter. LPL Financial LLC now owns 5,694 shares of the financial services provider's stock valued at $1,287,000 after acquiring an additional 3,746 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in MarketAxess by 50.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,294 shares of the financial services provider's stock valued at $745,000 after purchasing an additional 1,101 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of MarketAxess by 274.4% in the fourth quarter. Franklin Resources Inc. now owns 30,753 shares of the financial services provider's stock worth $6,951,000 after buying an additional 22,538 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of MarketAxess during the fourth quarter worth $481,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of MarketAxess during the fourth quarter worth $2,603,000. Institutional investors and hedge funds own 99.01% of the company's stock.

MarketAxess Stock Performance

Shares of MarketAxess stock opened at $186.80 on Thursday. The firm has a 50-day simple moving average of $216.77 and a two-hundred day simple moving average of $214.05. MarketAxess Holdings Inc. has a fifty-two week low of $186.14 and a fifty-two week high of $296.68. The company has a market cap of $7.01 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 2.74 and a beta of 0.84.

MarketAxess (NASDAQ:MKTX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.94 by $0.06. The company had revenue of $219.46 million for the quarter, compared to analyst estimates of $218.05 million. MarketAxess had a return on equity of 19.93% and a net margin of 26.57%. MarketAxess's quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $1.72 earnings per share. Equities research analysts forecast that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MKTX. Morgan Stanley cut their target price on MarketAxess from $283.00 to $274.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Barclays reduced their price target on shares of MarketAxess from $240.00 to $237.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Wall Street Zen downgraded shares of MarketAxess from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Citigroup raised their target price on shares of MarketAxess from $250.00 to $265.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $204.00 price target (up from $202.00) on shares of MarketAxess in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.

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