MarketAxess Holdings Inc. (NASDAQ:MKTX) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC cut its position in MarketAxess Holdings Inc. (NASDAQ:MKTX - Free Report) by 18.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,050 shares of the financial services provider's stock after selling 1,414 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in MarketAxess were worth $1,368,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. First Hawaiian Bank purchased a new stake in MarketAxess during the fourth quarter valued at approximately $1,088,000. Keybank National Association OH boosted its position in shares of MarketAxess by 18.2% in the 4th quarter. Keybank National Association OH now owns 8,149 shares of the financial services provider's stock worth $1,842,000 after purchasing an additional 1,256 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in MarketAxess by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 363,224 shares of the financial services provider's stock worth $82,103,000 after buying an additional 5,153 shares during the last quarter. Norden Group LLC acquired a new position in MarketAxess during the 4th quarter valued at about $539,000. Finally, Taika Capital LP purchased a new stake in MarketAxess in the fourth quarter valued at about $2,689,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

MarketAxess Stock Performance

MarketAxess stock traded up $0.04 during midday trading on Monday, hitting $219.04. 53,378 shares of the company were exchanged, compared to its average volume of 670,508. MarketAxess Holdings Inc. has a fifty-two week low of $186.84 and a fifty-two week high of $296.68. The firm has a market capitalization of $8.26 billion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 3.89 and a beta of 1.12. The business has a fifty day simple moving average of $210.22 and a two-hundred day simple moving average of $231.99.

MarketAxess (NASDAQ:MKTX - Get Free Report) last posted its earnings results on Thursday, February 6th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.03. MarketAxess had a net margin of 33.56% and a return on equity of 20.23%. As a group, equities analysts expect that MarketAxess Holdings Inc. will post 7.79 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MKTX shares. Morgan Stanley upgraded MarketAxess from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, April 8th. UBS Group dropped their price objective on shares of MarketAxess from $305.00 to $295.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Keefe, Bruyette & Woods reduced their target price on MarketAxess from $251.00 to $225.00 and set a "market perform" rating for the company in a research note on Friday, February 7th. Piper Sandler cut their price objective on MarketAxess from $220.00 to $213.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Bank of America lifted their target price on MarketAxess from $189.00 to $191.00 and gave the stock an "underperform" rating in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $252.11.

MarketAxess Company 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.