Duality Advisers LP Trims Position in MarketAxess Holdings Inc. (NASDAQ:MKTX)

Duality Advisers LP trimmed its holdings in MarketAxess Holdings Inc. (NASDAQ:MKTX – Get Rating) by 68.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,630 shares of the financial services provider’s stock after selling 5,632 shares during the quarter. Duality Advisers LP’s holdings in MarketAxess were worth $585,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Desjardins Global Asset Management Inc. acquired a new position in shares of MarketAxess during the second quarter worth about $27,000. First Horizon Advisors Inc. increased its stake in shares of MarketAxess by 1,345.5% during the second quarter. First Horizon Advisors Inc. now owns 159 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 148 shares during the period. Parallel Advisors LLC increased its stake in shares of MarketAxess by 47.0% during the second quarter. Parallel Advisors LLC now owns 194 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 62 shares during the period. Private Trust Co. NA acquired a new position in shares of MarketAxess during the second quarter worth about $50,000. Finally, Tobam acquired a new position in shares of MarketAxess during the second quarter worth about $58,000. 96.78% of the stock is owned by hedge funds and other institutional investors.

MarketAxess Stock Performance

Shares of MKTX opened at $329.52 on Wednesday. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 51.17 and a beta of 0.64. The company’s 50 day simple moving average is $287.91 and its 200 day simple moving average is $264.13. MarketAxess Holdings Inc. has a 1 year low of $217.44 and a 1 year high of $390.13.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MKTX shares. StockNews.com initiated coverage on shares of MarketAxess in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Credit Suisse Group upped their target price on shares of MarketAxess from $284.00 to $294.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 7th. Keefe, Bruyette & Woods upped their target price on shares of MarketAxess from $282.00 to $325.00 and gave the stock a “market perform” rating in a research report on Thursday, January 12th. Piper Sandler lowered their target price on shares of MarketAxess from $285.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 5th. Finally, Morgan Stanley upped their target price on shares of MarketAxess from $274.00 to $314.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $298.20.

MarketAxess Profile

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MarketAxess Holdings, Inc operates as an electronic trading platform that allows investment industry professionals to trade corporate bonds and other types of fixed-income instruments. It also provides data and analytical tools that help its clients to make trading decisions and facilitate the trading process by electronically communicating order information between trading counterparties.