MarketAxess Holdings Inc. $MKTX Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 37.7% in the third quarter, Holdings Channel reports. The firm owned 7,296 shares of the financial services provider’s stock after selling 4,408 shares during the quarter. State of Alaska Department of Revenue’s holdings in MarketAxess were worth $1,195,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MKTX. Krilogy Financial LLC raised its stake in shares of MarketAxess by 1.0% during the 1st quarter. Krilogy Financial LLC now owns 7,884 shares of the financial services provider’s stock worth $1,368,000 after purchasing an additional 77 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings in shares of MarketAxess by 6.3% in the 1st quarter. Citizens Financial Group Inc. RI now owns 2,592 shares of the financial services provider’s stock valued at $428,000 after buying an additional 153 shares during the last quarter. Argos Wealth Advisors LLC grew its stake in shares of MarketAxess by 11.6% in the first quarter. Argos Wealth Advisors LLC now owns 1,561 shares of the financial services provider’s stock valued at $258,000 after buying an additional 162 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of MarketAxess by 58.6% in the first quarter. Pacer Advisors Inc. now owns 444 shares of the financial services provider’s stock valued at $73,000 after buying an additional 164 shares in the last quarter. Finally, Walled Lake Planning & Wealth Management LLC increased its holdings in MarketAxess by 2.1% during the first quarter. Walled Lake Planning & Wealth Management LLC now owns 10,544 shares of the financial services provider’s stock worth $1,740,000 after buying an additional 212 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Trading Down 0.0%

Shares of MKTX stock opened at $164.49 on Wednesday. MarketAxess Holdings Inc. has a 12-month low of $108.75 and a 12-month high of $195.96. The company has a market capitalization of $5.79 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 2.09 and a beta of 0.80. The firm has a 50 day moving average price of $163.41 and a two-hundred day moving average price of $146.91. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.09.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.10. The business had revenue of $218.41 million during the quarter, compared to analysts’ expectations of $216.70 million. MarketAxess had a return on equity of 22.48% and a net margin of 35.22%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm posted $2.00 EPS. As a group, analysts predict that MarketAxess Holdings Inc. will post 8.08 earnings per share for the current year.

Insider Activity

In other news, Director William Cruger, Jr. sold 6,164 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $163.20, for a total transaction of $1,005,964.80. Following the transaction, the director directly owned 4,033 shares of the company’s stock, valued at approximately $658,185.60. This trade represents a 60.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 6,464 shares of company stock worth $1,055,022. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on MKTX shares. UBS Group cut shares of MarketAxess from a “buy” rating to a “neutral” rating and cut their price target for the company from $200.00 to $167.00 in a research note on Friday, July 31st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $167.00 price objective (up from $150.00) on shares of MarketAxess in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of MarketAxess from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, September 22nd. Barclays upped their target price on shares of MarketAxess from $132.00 to $167.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Finally, Benchmark reiterated a “buy” rating on shares of MarketAxess in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $159.44.

About MarketAxess

MarketAxess Holdings Inc operates an electronic trading platform for fixed-income securities and related market data services. The company connects institutional investors, broker-dealers and other market participants, enabling them to trade corporate bonds, government bonds, emerging-market debt and other credit products through digital workflows.

Its offerings include electronic request-for-quote trading, all-to-all trading through its Open Trading marketplace, portfolio trading, and tools designed to support pricing, liquidity discovery and trade execution.