MarketAxess Holdings Inc. $MKTX Stock Holdings Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 3.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 376,029 shares of the financial services provider’s stock after selling 13,025 shares during the quarter. Bank of New York Mellon Corp’s holdings in MarketAxess were worth $83,982,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its holdings in shares of MarketAxess by 200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 80 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in MarketAxess in the second quarter worth $37,000. MassMutual Private Wealth & Trust FSB increased its stake in MarketAxess by 51.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 84 shares during the last quarter. Signaturefd LLC increased its stake in MarketAxess by 173.0% during the first quarter. Signaturefd LLC now owns 333 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 211 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of MarketAxess by 96.7% during the first quarter. Quarry LP now owns 356 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

Insider Transactions at MarketAxess

In other news, CRO Kevin M. Mcpherson sold 1,494 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $185.32, for a total value of $276,868.08. Following the completion of the sale, the executive directly owned 67,681 shares of the company’s stock, valued at approximately $12,542,642.92. This represents a 2.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the transaction, the director owned 43,208 shares of the company’s stock, valued at $8,062,180.72. This trade represents a 3.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

MKTX has been the subject of several research reports. Barclays decreased their price target on shares of MarketAxess from $200.00 to $186.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Wall Street Zen upgraded MarketAxess from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Jefferies Financial Group lowered their target price on MarketAxess from $217.00 to $208.00 and set a “hold” rating for the company in a report on Monday, August 11th. Morgan Stanley cut their price target on MarketAxess from $274.00 to $253.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Finally, Zacks Research lowered MarketAxess from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $216.58.

MarketAxess Price Performance

MKTX opened at $167.27 on Friday. The stock’s 50 day moving average price is $174.16 and its 200 day moving average price is $199.02. The stock has a market cap of $6.25 billion, a P/E ratio of 28.16, a P/E/G ratio of 6.44 and a beta of 0.94. MarketAxess Holdings Inc. has a 12 month low of $156.17 and a 12 month high of $277.84.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Friday, November 7th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.15. The company had revenue of $208.82 million during the quarter, compared to analysts’ expectations of $212.59 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.During the same quarter in the prior year, the business posted $1.90 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

MarketAxess Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 19th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, November 19th. MarketAxess’s payout ratio is 51.18%.

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.