Kornitzer Capital Management Inc. KS Trims Stake in MarketAxess Holdings Inc. $MKTX

Kornitzer Capital Management Inc. KS reduced its position in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 83.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,314 shares of the financial services provider’s stock after selling 6,560 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in MarketAxess were worth $238,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. MUFG Securities EMEA plc purchased a new stake in shares of MarketAxess in the 2nd quarter valued at about $25,000. Geneos Wealth Management Inc. lifted 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 purchasing an additional 80 shares during the last quarter. Activest Wealth Management purchased a new stake in shares of MarketAxess in the 4th quarter valued at about $28,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of MarketAxess in the 3rd quarter valued at about $38,000. Finally, Stance Capital LLC purchased a new stake in shares of MarketAxess in the 3rd quarter valued at about $42,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

MarketAxess Price Performance

MarketAxess stock opened at $152.87 on Monday. MarketAxess Holdings Inc. has a twelve month low of $152.76 and a twelve month high of $232.84. The stock has a 50 day moving average of $173.96 and a two-hundred day moving average of $172.37. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.34 and a beta of 0.92.

MarketAxess (NASDAQ:MKTX) last posted its quarterly earnings data on Friday, February 6th. The financial services provider reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.04). MarketAxess had a return on equity of 20.88% and a net margin of 29.14%.The company had revenue of $209.41 million for the quarter, compared to analyst estimates of $214.06 million. During the same period in the previous year, the business posted $1.73 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. As a group, research analysts expect that MarketAxess Holdings Inc. will post 8.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MKTX shares. Barclays reduced their target price on shares of MarketAxess from $182.00 to $178.00 and set an “equal weight” rating for the company in a report on Monday, February 9th. UBS Group lowered their price target on MarketAxess from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, January 9th. Weiss Ratings raised MarketAxess from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th. Piper Sandler decreased their price objective on MarketAxess from $180.00 to $175.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th. Finally, Morgan Stanley decreased their price objective on MarketAxess from $204.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, MarketAxess presently has an average rating of “Hold” and an average price target of $201.11.

MarketAxess Profile

MarketAxess Holdings Inc operates a leading global electronic trading platform specializing in fixed-income securities and related products. The company’s network enables institutional investors and broker-dealers to trade corporate bonds, municipal securities, emerging markets debt, U.S. Treasuries and credit default swaps in an automated, multi-dealer environment. MarketAxess also offers portfolio trading, data analytics, best-execution tools and post-trade services to streamline workflows and enhance price discovery across its marketplace.

In addition to core voice-like trading protocols, MarketAxess provides Open Trading®, an anonymous, all-to-all trading protocol designed to improve liquidity and transaction efficiency.