Cooke & Bieler 13F: Exits MarketAxess (MKTX) Stake
Key Points
- Cooke & Bieler completely exited its position in MarketAxess Holdings Inc. MKTX by selling all 238,755 shares it previously held, as revealed in an SEC filing on October 21, 2026.
- MarketAxess Holdings Inc. recently posted trailing-twelve-month revenue of $870.0 million and earnings of $8.46 per share ahead of its upcoming earnings report on November 5, 2026.
- Other major institutional investors adjusted their stakes, with Primecap Management Company adding 157,655 shares to hold 3,504,905 shares valued at about $577.1 million.
Since the filing, $MKTX is up 0.2% to date (from the $164.26 close on Oct 21, 2026).
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Cooke & Bieler completely exited its position in MarketAxess Holdings Inc. MKTX by selling all 238,755 shares it previously held. The complete exit was disclosed in a Form 13F filing with the SEC on October 21, 2026. MarketAxess closed at $164.26 on the day of the filing.
MKTX
MarketAxess Holdings Inc.
What Changed in Cooke & Bieler's MarketAxess Position
Cooke & Bieler sold out of its entire holding in MarketAxess Holdings Inc. MKTX, dropping its share count from 238,755 shares down to zero. The total share reduction of 238,755 shares represented a 100.0% decrease in the firm's portfolio allocation for the company.
Other Institutional Activity in MarketAxess
Other large funds made substantial adjustments to their holdings in MarketAxess during the period. Primecap Management Company grew its holdings by 157,655 shares, ending with 3,504,905 shares worth about $577,117,670.0. North Reef Capital Management LP grew its holdings by 1,520,035 shares, ending with 3,395,000 shares worth about $559,020,712.0. AQR Capital Management, LLC reduced its holdings by 696,423 shares, ending with 1,987,288 shares worth about $327,226,849.0. Neuberger Berman Group, LLC grew its holdings by 263,915 shares, ending with 1,229,929 shares worth about $202,520,113.0.
MarketAxess Holdings Inc. Stock Up 0.2%
The stock recently traded around $164.66 as of October 23, 2026, putting it up about 0.2% compared to its $164.26 close on the filing date. Shares sit well above their 50-day moving average of $163.46 and above the 200-day moving average of $155.51. The stock remains 16.0% below its 52-week high of $195.97, while holding 51.4% above its 52-week low of $108.75.
Recent Earnings
MarketAxess Holdings Inc. reported trailing-twelve-month revenue of $870,025,024.0 alongside earnings of $8.46 per share. Profitability metrics show a net margin of 35.2% and a return on equity of 23.1%, while annual revenue declined slightly by 0.5% year-over-year. Investors will look toward the next earnings report scheduled for November 5, 2026.
Dividend
The company pays an annual dividend rate of $3.12 per share, which translates to a dividend yield of 1.89%. The payout ratio stands at 36.4% of earnings.
Insider Buying and Selling at MarketAxess Holdings Inc.
Company insiders also transacted in shares prior to the filing date. General Counsel Scott Pintoff sold 100 shares on August 10, 2026, at an average price of $162.60 for a total value of $16,260.0. Scott Pintoff later sold 100 shares on September 10, 2026, at $163.32 per share for $16,332.0. Director William Frank Cruger Jr sold 6,164 shares on September 10, 2026, at $163.20 per share for $1,005,965.0. Additionally, Scott Pintoff sold 100 shares on October 12, 2026, at $164.65 for $16,465.0 under a planned transaction.
Analysts Set New Price Targets
Analyst coverage includes several recent rating updates. On July 15, 2026, Piper Sandler maintained a Neutral rating with a price target of $128.0. On July 31, 2026, UBS downgraded the stock to Neutral with a target of $167.0. On August 10, 2026, Barclays maintained an Equal-Weight rating with a $167.0 target. Keefe, Bruyette & Woods downgraded the stock to Market Perform on August 11, 2026, setting a target of $167.0. Finally, Morgan Stanley maintained an Equal-Weight rating with a target of $167.0 on October 9, 2026. The stock holds a consensus rating of hold from nine analysts with a mean price target of $162.22.
About MarketAxess
MarketAxess Holdings Inc. operates electronic trading platforms that connect institutional investors and broker-dealers for trading fixed-income instruments, including U.S. high-grade and high-yield bonds, emerging market debt, and municipal bonds. Its digital infrastructure allows market participants to execute trades and access liquidity across global credit markets.
Bottom Line
Market participants will monitor the upcoming earnings release on November 5, 2026, for updated guidance on trading volumes and operating margins. Institutional positioning shifts and upcoming disclosures will provide further clarity on large-holder sentiment.
Related Filing Alerts
Source: Cooke & Bieler's 13F filing on $MKTX (Oct 21, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts