Interactive Brokers Group (NASDAQ:IBKR) Now Covered by China Renaissance

Research analysts at China Renaissance initiated coverage on shares of Interactive Brokers Group (NASDAQ:IBKR) in a report issued on Tuesday, MarketBeat.com reports. The brokerage set a “hold” rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on IBKR. Weiss Ratings cut Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 29th. Jefferies Financial Group cut their price target on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Wolfe Research assumed coverage on Interactive Brokers Group in a research report on Monday, June 8th. They issued an “outperform” rating and a $101.00 price target on the stock. BMO Capital Markets boosted their price objective on Interactive Brokers Group from $80.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $98.00 target price on shares of Interactive Brokers Group in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.38.

Interactive Brokers Group Stock Performance

Shares of IBKR traded down $1.60 during mid-day trading on Tuesday, hitting $94.39. 329,468 shares of the company’s stock were exchanged, compared to its average volume of 4,990,505. The stock’s 50-day moving average is $87.04 and its 200-day moving average is $76.73. Interactive Brokers Group has a fifty-two week low of $56.33 and a fifty-two week high of $97.84. The company has a market cap of $160.12 billion, a price-to-earnings ratio of 40.72, a P/E/G ratio of 2.52 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the business earned $1.94 EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, equities research analysts anticipate that Interactive Brokers Group will post 2.46 EPS for the current year.

Insider Buying and Selling at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total value of $2,000,180.00. Following the transaction, the director directly owned 173,482 shares of the company’s stock, valued at $13,345,970.26. This trade represents a 13.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Interactive Brokers Group

Several hedge funds have recently made changes to their positions in the company. Reflection Asset Management acquired a new stake in shares of Interactive Brokers Group in the 4th quarter valued at about $26,000. IMA Advisory Services Inc. increased its stake in Interactive Brokers Group by 64.3% in the fourth quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 178 shares during the period. Tobam purchased a new stake in Interactive Brokers Group during the 4th quarter valued at approximately $30,000. Entrust Financial LLC purchased a new stake in shares of Interactive Brokers Group during the fourth quarter worth approximately $31,000. Finally, SHP Wealth Management acquired a new stake in shares of Interactive Brokers Group during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 23.80% of the company’s stock.

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.