Interactive Brokers Group Inc. (NASDAQ:IBKR) shares dropped 2.1% during mid-day trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $34.71 and last traded at $34.93, with a volume of 455,715 shares trading hands. The stock had previously closed at $35.68.
The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by $0.02. The firm had revenue of $345 million for the quarter, compared to analyst estimates of $330.70 million. Interactive Brokers Group had a return on equity of 1.80% and a net margin of 6.35%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 earnings per share.
Separately, Zacks Investment Research lowered shares of Interactive Brokers Group from a “hold” rating to a “sell” rating in a research note on Tuesday, September 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $40.58.
Hedge funds have recently bought and sold shares of the stock. BlueMountain Capital Management LLC acquired a new stake in Interactive Brokers Group during the first quarter worth about $49,949,000. BlackRock Inc. increased its stake in Interactive Brokers Group by 120.8% in the first quarter. BlackRock Inc. now owns 4,829 shares of the company’s stock worth $190,000 after buying an additional 2,642 shares in the last quarter. Scopia Capital Management LP increased its stake in Interactive Brokers Group by 88.1% in the first quarter. Scopia Capital Management LP now owns 3,537,665 shares of the company’s stock worth $139,101,000 after buying an additional 1,656,925 shares in the last quarter. Gabelli Funds LLC increased its stake in Interactive Brokers Group by 34.7% in the second quarter. Gabelli Funds LLC now owns 194,000 shares of the company’s stock worth $6,868,000 after buying an additional 50,000 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in Interactive Brokers Group by 418.7% in the second quarter. Baillie Gifford & Co. now owns 5,639,535 shares of the company’s stock worth $199,639,000 after buying an additional 4,552,259 shares in the last quarter. 84.60% of the stock is owned by hedge funds and other institutional investors.
The stock’s 50 day moving average price is $35.85 and its 200-day moving average price is $36.72. The firm has a market capitalization of $2.33 billion, a PE ratio of 22.91 and a beta of 0.93.
Interactive Brokers Group Company Profile
Interactive Brokers Group, Inc (IBG, Inc) is a holding company. The Company is an automated global electronic broker and market maker specializing in routing orders, and executing and processing trades in securities, futures, foreign exchange instruments, bonds and mutual funds on over 100 electronic exchanges and trading venues around the world.
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