First Mercantile Trust Co Lowers stake in MarketAxess Holdings (MKTX)

MarketAxess Holdings (MKTX) : First Mercantile Trust Co reduced its stake in MarketAxess Holdings by 25.99% during the most recent quarter end. The investment management company now holds a total of 8,178 shares of MarketAxess Holdings which is valued at $1,301,856 after selling 2,872 shares in MarketAxess Holdings , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.MarketAxess Holdings makes up approximately 0.17% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Advisory Services Network boosted its stake in MKTX in the latest quarter, The investment management firm added 4 additional shares and now holds a total of 195 shares of MarketAxess Holdings which is valued at $31,042. MarketAxess Holdings makes up approx 0.01% of Advisory Services Network’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in MKTX by selling 10,860 shares or 60.04% in the most recent quarter. The Hedge Fund company now holds 7,227 shares of MKTX which is valued at $1,165,643.

MarketAxess Holdings closed down -1.15 points or -0.72% at $159.19 with 2,70,084 shares getting traded on Friday. Post opening the session at $159.85, the shares hit an intraday low of $157.96 and an intraday high of $160.42 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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