IFP Advisors Inc Buys 141 Shares of MarketAxess Holdings Inc. $MKTX

IFP Advisors Inc increased its stake in MarketAxess Holdings Inc. (NASDAQ:MKTX) by 31.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 587 shares of the financial services provider’s stock after acquiring an additional 141 shares during the period. IFP Advisors Inc’s holdings in MarketAxess were worth $131,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MKTX. Geneos Wealth Management Inc. increased its holdings in MarketAxess by 200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 120 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 80 shares during the period. Harbor Investment Advisory LLC purchased a new stake in shares of MarketAxess in the 2nd quarter worth approximately $37,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of MarketAxess by 51.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the financial services provider’s stock worth $55,000 after buying an additional 84 shares during the last quarter. Intact Investment Management Inc. purchased a new stake in shares of MarketAxess in the 1st quarter worth approximately $65,000. Finally, Signaturefd LLC boosted its stake in MarketAxess by 173.0% during the 1st quarter. Signaturefd LLC now owns 333 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

MarketAxess Stock Performance

Shares of MarketAxess stock opened at $171.26 on Friday. MarketAxess Holdings Inc. has a one year low of $161.61 and a one year high of $296.68. The stock’s fifty day moving average is $180.84 and its 200 day moving average is $204.37. The stock has a market cap of $6.40 billion, a P/E ratio of 28.83, a P/E/G ratio of 6.91 and a beta of 0.89.

MarketAxess (NASDAQ:MKTX) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.06. The company had revenue of $219.46 million for the quarter, compared to analysts’ expectations of $218.05 million. MarketAxess had a return on equity of 20.41% and a net margin of 26.62%.MarketAxess’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $1.72 EPS. Analysts predict that MarketAxess Holdings Inc. will post 7.79 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on the company. Wall Street Zen upgraded MarketAxess from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Argus raised MarketAxess from a “hold” rating to a “buy” rating and set a $212.00 price target on the stock in a report on Monday, August 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of MarketAxess in a report on Wednesday, October 8th. Loop Capital set a $164.00 price target on MarketAxess in a report on Tuesday. Finally, UBS Group lowered their price target on MarketAxess from $255.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $216.58.

Insider Transactions at MarketAxess

In other MarketAxess news, Director Stephen P. Casper sold 1,600 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $186.59, for a total transaction of $298,544.00. Following the sale, the director directly owned 43,208 shares of the company’s stock, valued at $8,062,180.72. This trade represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Kevin M. Mcpherson sold 1,494 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $185.32, for a total value of $276,868.08. Following the sale, the executive directly owned 67,681 shares in the company, valued at approximately $12,542,642.92. This represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.

MarketAxess Company 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.