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

State of Alaska Department of Revenue lessened its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 37.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in MarketAxess during the second quarter worth about $453,941,000. Primecap Management Co. CA bought a new stake in shares of MarketAxess in the 2nd quarter valued at about $397,772,000. North Reef Capital Management LP raised its position in shares of MarketAxess by 16.5% in the 1st quarter. North Reef Capital Management LP now owns 1,875,000 shares of the financial services provider’s stock valued at $309,338,000 after acquiring an additional 265,670 shares during the period. Dimensional Fund Advisors LP raised its position in shares of MarketAxess by 10.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 581,484 shares of the financial services provider’s stock valued at $95,933,000 after acquiring an additional 54,503 shares during the period. Finally, Azora Capital LP acquired a new stake in shares of MarketAxess in the 2nd quarter valued at approximately $58,230,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

MarketAxess Price Performance

MKTX stock opened at $164.49 on Wednesday. The stock has a 50-day moving average price of $163.41 and a two-hundred day moving average price of $146.91. The stock has a market cap 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 company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.09. MarketAxess Holdings Inc. has a 1 year low of $108.75 and a 1 year high of $195.96.

MarketAxess (NASDAQ:MKTX) last issued 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 company had revenue of $218.41 million during the quarter, compared to analysts’ expectations of $216.70 million. MarketAxess had a net margin of 35.22% and a return on equity of 22.48%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $2.00 EPS. Equities analysts forecast that MarketAxess Holdings Inc. will post 8.08 EPS for the current fiscal year.

Insider Activity at MarketAxess

In related news, Director William Cruger, Jr. sold 6,164 shares of the stock in a transaction 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 completion of the transaction, the director owned 4,033 shares in the company, valued at approximately $658,185.60. This represents a 60.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 6,464 shares of company stock valued at $1,055,022 over the last 90 days. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

MKTX has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of MarketAxess from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, September 22nd. Barclays increased their target price on shares of MarketAxess from $132.00 to $167.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. UBS Group lowered shares of MarketAxess from a “buy” rating to a “neutral” rating and cut their target price for the stock from $200.00 to $167.00 in a report on Friday, July 31st. Wall Street Zen cut shares of MarketAxess from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, The Goldman Sachs Group decreased their price target on shares of MarketAxess from $168.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $159.44.

MarketAxess Profile

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.