Kornitzer Capital Management Inc. KS Acquires 18,058 Shares of MarketAxess Holdings Inc. (NASDAQ:MKTX)

Kornitzer Capital Management Inc. KS raised its holdings in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) by 160.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,329 shares of the financial services provider’s stock after purchasing an additional 18,058 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in MarketAxess were worth $8,589,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB raised its position in MarketAxess by 316.1% during the 4th quarter. Nordea Investment Management AB now owns 11,546 shares of the financial services provider’s stock valued at $3,367,000 after purchasing an additional 8,771 shares during the last quarter. Norris Perne & French LLP MI bought a new position in MarketAxess during the 4th quarter valued at approximately $9,715,000. International Assets Investment Management LLC raised its position in MarketAxess by 28,547.8% during the 4th quarter. International Assets Investment Management LLC now owns 13,178 shares of the financial services provider’s stock valued at $3,859,000 after purchasing an additional 13,132 shares during the last quarter. Rhumbline Advisers raised its position in shares of MarketAxess by 3.4% in the 3rd quarter. Rhumbline Advisers now owns 91,847 shares of the financial services provider’s stock worth $19,622,000 after acquiring an additional 3,024 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of MarketAxess by 2.0% in the 3rd quarter. Royal Bank of Canada now owns 1,705,958 shares of the financial services provider’s stock worth $364,462,000 after acquiring an additional 33,288 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

MarketAxess Trading Up 0.4 %

MKTX traded up $0.86 during trading on Friday, hitting $204.01. 359,646 shares of the company’s stock traded hands, compared to its average volume of 338,211. The company’s 50 day simple moving average is $216.43 and its two-hundred day simple moving average is $237.33. MarketAxess Holdings Inc. has a 12-month low of $199.34 and a 12-month high of $336.56. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 4.25 and a beta of 0.98.

MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.11. MarketAxess had a return on equity of 21.76% and a net margin of 34.29%. The firm had revenue of $197.20 million for the quarter, compared to the consensus estimate of $196.70 million. During the same period last year, the business posted $1.58 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts expect that MarketAxess Holdings Inc. will post 7.28 EPS for the current year.

Insider Buying and Selling

In related news, CRO Kevin M. Mcpherson sold 2,000 shares of MarketAxess stock in a transaction on Friday, February 16th. The stock was sold at an average price of $221.26, for a total value of $442,520.00. Following the completion of the sale, the executive now owns 70,092 shares of the company’s stock, valued at $15,508,555.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Rosenblatt Securities decreased their target price on MarketAxess from $229.00 to $210.00 and set a “sell” rating for the company in a research report on Thursday, February 1st. Morgan Stanley increased their target price on MarketAxess from $278.00 to $279.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Piper Sandler decreased their target price on MarketAxess from $250.00 to $237.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Barclays decreased their target price on MarketAxess from $239.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. Finally, William Blair reissued an “outperform” rating on shares of MarketAxess in a research report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $252.80.

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.