Interactive Brokers Group (NASDAQ:IBKR) Announces Earnings Results
by Renee Jackson · The Cerbat GemInteractive Brokers Group (NASDAQ:IBKR – Get Free Report) posted its earnings results on Tuesday. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03, Zacks reports. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.69 billion. Interactive Brokers Group had a return on equity of 5.12% and a net margin of 9.44%.During the same quarter in the prior year, the business posted $1.94 earnings per share.
Interactive Brokers Group Stock Down 2.0%
NASDAQ:IBKR traded down $1.63 during midday trading on Tuesday, hitting $79.62. The company had a trading volume of 6,365,889 shares, compared to its average volume of 4,977,453. The company has a market capitalization of $135.06 billion, a PE ratio of 35.95, a P/E/G ratio of 2.26 and a beta of 1.25. Interactive Brokers Group has a 52-week low of $38.53 and a 52-week high of $82.88. The stock’s fifty day moving average price is $70.99 and its 200-day moving average price is $69.51.
Wall Street Analysts Forecast Growth
IBKR has been the subject of several analyst reports. Barclays raised their price target on shares of Interactive Brokers Group from $83.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Zacks Research downgraded Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Jefferies Financial Group reduced their target price on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Keefe, Bruyette & Woods initiated coverage on Interactive Brokers Group in a research note on Wednesday, April 8th. They issued a “market perform” rating and a $75.00 target price on the stock. Finally, BMO Capital Markets raised their price target on Interactive Brokers Group from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.00.
Read Our Latest Stock Analysis on IBKR
Insiders Place Their Bets
In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 60,200 shares of Interactive Brokers Group stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $75.30, for a total transaction of $4,533,060.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 400,000 shares of company stock worth $30,725,122 in the last quarter. Company insiders own 2.80% of the company’s stock.
Hedge Funds Weigh In On Interactive Brokers Group
A number of large investors have recently modified their holdings of IBKR. Mcguire Capital Advisors Inc. purchased a new position in shares of Interactive Brokers Group in the fourth quarter worth about $78,000. Invesco Ltd. increased its stake in shares of Interactive Brokers Group by 44.1% in the fourth quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider’s stock worth $533,026,000 after buying an additional 2,534,772 shares during the period. Corient Private Wealth LLC raised its holdings in Interactive Brokers Group by 187.8% during the 4th quarter. Corient Private Wealth LLC now owns 214,430 shares of the financial services provider’s stock valued at $13,790,000 after buying an additional 139,922 shares during the last quarter. Alberta Investment Management Corp bought a new stake in Interactive Brokers Group in the 4th quarter worth $4,225,000. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Interactive Brokers Group by 26.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 41,952 shares of the financial services provider’s stock valued at $2,699,000 after acquiring an additional 8,705 shares during the last quarter. 23.80% of the stock is owned by hedge funds and other institutional investors.
About Interactive Brokers Group
Interactive Brokers Group, Inc (NASDAQ: IBKR) is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.
Its product suite centers on advanced trading platforms and infrastructure.