Xponance Inc. reduced its position in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 36.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,314 shares of the financial services provider's stock after selling 1,906 shares during the period. Xponance Inc.'s holdings in MarketAxess were worth $717,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Cerity Partners LLC increased its position in shares of MarketAxess by 11.1% during the 1st quarter. Cerity Partners LLC now owns 8,830 shares of the financial services provider's stock valued at $1,910,000 after purchasing an additional 882 shares during the last quarter. Alps Advisors Inc. increased its position in shares of MarketAxess by 7.7% during the 1st quarter. Alps Advisors Inc. now owns 47,040 shares of the financial services provider's stock valued at $10,177,000 after purchasing an additional 3,358 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of MarketAxess by 18.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 4,645 shares of the financial services provider's stock valued at $1,005,000 after purchasing an additional 738 shares during the last quarter. Banque Pictet & Cie SA purchased a new stake in shares of MarketAxess during the 1st quarter valued at $382,000. Finally, Flossbach Von Storch SE increased its position in shares of MarketAxess by 41.2% during the 1st quarter. Flossbach Von Storch SE now owns 23,000 shares of the financial services provider's stock valued at $4,976,000 after purchasing an additional 6,710 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.
MarketAxess Trading Down 0.5%
MKTX stock traded down $1.08 during midday trading on Monday, hitting $207.76. The company had a trading volume of 391,570 shares, compared to its average volume of 498,561. MarketAxess Holdings Inc. has a 52 week low of $186.84 and a 52 week high of $296.68. The stock's 50 day moving average price is $219.17 and its 200 day moving average price is $215.08. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 2.75 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, beating the consensus estimate of $1.82 by $0.05. MarketAxess had a return on equity of 19.93% and a net margin of 26.57%. The firm had revenue of $208.58 million for the quarter, compared to analysts' expectations of $211.81 million. During the same period in the previous year, the firm earned $1.92 earnings per share. The business's revenue was down .8% compared to the same quarter last year. Analysts predict that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.
Analysts Set New Price Targets
Several brokerages recently weighed in on MKTX. Bank of America lifted their price objective on MarketAxess from $189.00 to $191.00 and gave the stock an "underperform" rating in a report on Wednesday, April 2nd. Wall Street Zen downgraded MarketAxess from a "hold" rating to a "sell" rating in a research report on Sunday. Piper Sandler restated a "neutral" rating and issued a $204.00 target price (up previously from $202.00) on shares of MarketAxess in a research report on Tuesday, July 15th. Barclays dropped their target price on MarketAxess from $240.00 to $237.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Finally, Morgan Stanley dropped their target price on MarketAxess from $283.00 to $274.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $240.67.
Read Our Latest Research Report on MarketAxess
MarketAxess Profile
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Free Report)
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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