3,363 Shares in MarketAxess Holdings Inc. (NASDAQ:MKTX) Acquired by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. bought a new stake in shares of MarketAxess Holdings Inc. (NASDAQ:MKTX) during the 4th quarter, HoldingsChannel reports. The firm bought 3,363 shares of the financial services provider’s stock, valued at approximately $760,000.

Several other hedge funds have also recently modified their holdings of the business. Millennium Management LLC increased its position in MarketAxess by 2,889.6% during the second quarter. Millennium Management LLC now owns 339,261 shares of the financial services provider’s stock valued at $68,032,000 after acquiring an additional 327,913 shares during the last quarter. FMR LLC boosted its position in shares of MarketAxess by 17.5% in the third quarter. FMR LLC now owns 1,959,043 shares of the financial services provider’s stock worth $501,907,000 after purchasing an additional 291,134 shares during the period. Marshall Wace LLP boosted its holdings in MarketAxess by 53.5% in the 2nd quarter. Marshall Wace LLP now owns 820,060 shares of the financial services provider’s stock worth $164,447,000 after buying an additional 285,665 shares during the period. Burgundy Asset Management Ltd. grew its holdings in MarketAxess by 120.6% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 393,073 shares of the financial services provider’s stock valued at $78,823,000 after buying an additional 214,928 shares in the last quarter. Finally, Castle Hook Partners LP bought a new position in shares of MarketAxess during the 3rd quarter valued at about $42,967,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Insider Transactions at MarketAxess

In other news, Chairman Richard M. Mcvey sold 10,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $267.67, for a total value of $2,676,700.00. Following the sale, the chairman now directly owns 562,029 shares of the company’s stock, valued at $150,438,302.43. This represents a 1.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Scott Pintoff sold 300 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $240.57, for a total transaction of $72,171.00. Following the transaction, the general counsel now directly owns 8,302 shares of the company’s stock, valued at approximately $1,997,212.14. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,300 shares of company stock worth $8,183,871 over the last three months. 2.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America reduced their target price on shares of MarketAxess from $193.00 to $185.00 and set an “underperform” rating on the stock in a report on Thursday, October 3rd. Citigroup lifted their target price on MarketAxess from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Barclays cut their price target on shares of MarketAxess from $260.00 to $256.00 and set an “equal weight” rating on the stock in a report on Monday. UBS Group lifted their price objective on shares of MarketAxess from $330.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of MarketAxess from $258.00 to $264.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, MarketAxess presently has a consensus rating of “Hold” and a consensus price target of $261.30.

MarketAxess Price Performance

Shares of NASDAQ MKTX opened at $217.82 on Thursday. The stock has a market capitalization of $8.21 billion, a P/E ratio of 29.51, a price-to-earnings-growth ratio of 6.67 and a beta of 1.03. The business has a fifty day moving average price of $242.90 and a 200 day moving average price of $246.20. MarketAxess Holdings Inc. has a 1-year low of $192.42 and a 1-year high of $296.68.

MarketAxess (NASDAQ:MKTX) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.85 by $0.05. MarketAxess had a return on equity of 20.93% and a net margin of 34.32%. The firm had revenue of $206.70 million during the quarter, compared to analyst estimates of $207.17 million. During the same quarter in the prior year, the business posted $1.46 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, equities research analysts anticipate that MarketAxess Holdings Inc. will post 7.29 earnings per share for the current fiscal year.

MarketAxess Profile

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.