Geneva Advisors Lowers stake in MarketAxess Holdings (MKTX)

MarketAxess Holdings (MKTX) : Geneva Advisors reduced its stake in MarketAxess Holdings by 3.95% during the most recent quarter end. The investment management company now holds a total of 425,814 shares of MarketAxess Holdings which is valued at $68,977,610 after selling 17,495 shares in MarketAxess Holdings , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.MarketAxess Holdings makes up approximately 1.32% of Geneva Advisors’s portfolio.

Other Hedge Funds, Including , Ridgeworth Capital Management reduced its stake in MKTX by selling 2,216 shares or 33.61% in the most recent quarter. The Hedge Fund company now holds 4,377 shares of MKTX which is valued at $712,707. MarketAxess Holdings makes up approx 0.01% of Ridgeworth Capital Management’s portfolio. Sawgrass Asset Management sold out all of its stake in MKTX during the most recent quarter. The investment firm sold 6,940 shares of MKTX which is valued $1,122,476. Meeder Asset Management Inc sold out all of its stake in MKTX during the most recent quarter. The investment firm sold 2,881 shares of MKTX which is valued $440,044.

MarketAxess Holdings opened for trading at $162.79 and hit $165.06 on the upside on Monday, eventually ending the session at $164.49, with a gain of 1.40% or 2.27 points. The heightened volatility saw the trading volume jump to 1,48,540 shares. Company has a market cap of $6,189 M.

On the company’s financial health, MarketAxess Holdings reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.85. The company had revenue of $96.60 million for the quarter, compared to analysts expectations of $93.73 million. The company’s revenue was up 27.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.

Many Wall Street Analysts have commented on MarketAxess Holdings. MarketAxess Holdings was Downgraded by Raymond James to ” Mkt Perform” on Jul 15, 2016.

MarketAxess Holdings Inc. (MarketAxess) is an electronic trading platform. The Company operates as an electronic multi-party platform for the trading of fixed-income securities and provides related data analytics compliance tools and post-trade services. The Company offers its broker-dealer clients a solution that allows them to reach institutional investor clients for the distribution and trading of bonds. The Company’s trading platform provides access to global liquidity in United States high-grade corporate bonds emerging markets and high-yield bonds European bonds United States agency bonds credit derivatives and other fixed-income securities. The Company’s multi-dealer trading platform allows its institutional investor clients to request bids or offers from multiple broker-dealers and to execute trades with the broker-dealer of their choice. The Company offers various services including Information Services Post-Trade Services and Straight-Through Processing.

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