Interactive Brokers Group (NASDAQ:IBKR) Releases Quarterly Earnings Results

Interactive Brokers Group (NASDAQ:IBKR) announced its earnings results on Tuesday. The financial services provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.50 by $0.15, FiscalAI reports. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.58 billion. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.03%.

Interactive Brokers Group Stock Performance

Shares of NASDAQ IBKR traded down $1.73 during mid-day trading on Tuesday, reaching $71.63. The company had a trading volume of 7,206,289 shares, compared to its average volume of 4,588,979. The firm has a market cap of $121.50 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 2.06 and a beta of 1.24. The business’s 50-day simple moving average is $66.42 and its 200 day simple moving average is $65.56. Interactive Brokers Group has a one year low of $32.82 and a one year high of $75.64.

Insider Buying and Selling at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 10,645 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $69.00, for a total value of $734,505.00. Following the completion of the transaction, the director owned 198,704 shares of the company’s stock, valued at approximately $13,710,576. This represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jill Bright acquired 400 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The stock was bought at an average cost of $65.95 per share, with a total value of $26,380.00. Following the purchase, the director owned 10,304 shares in the company, valued at $679,548.80. The trade was a 4.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 55,000 shares of company stock valued at $3,767,363 over the last 90 days. Corporate insiders own 2.97% of the company’s stock.

Hedge Funds Weigh In On Interactive Brokers Group

Several large investors have recently bought and sold shares of the company. Orbis Allan Gray Ltd grew its holdings in shares of Interactive Brokers Group by 178.8% in the second quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock valued at $539,697,000 after acquiring an additional 6,246,715 shares in the last quarter. Bank of America Corp DE boosted its stake in Interactive Brokers Group by 225.4% in the second quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider’s stock valued at $420,834,000 after acquiring an additional 5,260,923 shares during the last quarter. State Street Corp grew its position in shares of Interactive Brokers Group by 23.2% during the 3rd quarter. State Street Corp now owns 18,648,758 shares of the financial services provider’s stock valued at $1,283,221,000 after acquiring an additional 3,517,729 shares during the period. Progeny 3 Inc. boosted its position in shares of Interactive Brokers Group by 556.3% in the second quarter. Progeny 3 Inc. now owns 2,126,460 shares of the financial services provider’s stock valued at $117,827,000 after acquiring an additional 1,802,445 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Interactive Brokers Group by 17.6% in the 3rd quarter. Wellington Management Group LLP now owns 10,901,171 shares of the financial services provider’s stock worth $750,110,000 after purchasing an additional 1,630,620 shares in the last quarter. 23.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler set a $80.00 price target on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Barclays set a $82.00 target price on Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Thursday, January 8th. The Goldman Sachs Group reissued a “buy” rating and set a $91.00 target price on shares of Interactive Brokers Group in a report on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interactive Brokers Group in a report on Monday, December 29th. Finally, CICC Research assumed coverage on shares of Interactive Brokers Group in a report on Monday, October 27th. They set an “outperform” rating and a $78.00 target price for the company. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Interactive Brokers Group currently has an average rating of “Moderate Buy” and a consensus price target of $75.25.

Interactive Brokers Group Company Profile

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.