Interactive Brokers Group (NASDAQ:IBKR) Issues Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Interactive Brokers Group (NASDAQ:IBKR) released its quarterly earnings data on Tuesday. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15, FiscalAI reports. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations 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 $1.85 during trading on Tuesday, reaching $71.51. The stock had a trading volume of 9,116,228 shares, compared to its average volume of 4,668,865. Interactive Brokers Group has a 1-year low of $32.82 and a 1-year high of $75.64. The stock has a market cap of $121.29 billion, a PE ratio of 34.34, a PEG ratio of 2.06 and a beta of 1.24. The business has a fifty day moving average price of $66.42 and a 200-day moving average price of $65.56.

Insiders Place Their Bets

In other Interactive Brokers Group news, Director Jill Bright bought 400 shares of the stock in a transaction on Thursday, October 23rd. The shares were bought at an average price of $65.95 per share, with a total value of $26,380.00. Following the purchase, the director directly owned 10,304 shares in the company, valued at $679,548.80. This trade represents a 4.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lawrence E. Harris sold 22,000 shares of the stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $67.63, for a total transaction of $1,487,860.00. Following the completion of the sale, the director owned 231,704 shares of the company’s stock, valued at $15,670,141.52. This trade represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 55,000 shares of company stock worth $3,767,363 in the last 90 days. 2.97% of the stock is currently owned by insiders.

Institutional Trading of Interactive Brokers Group

Large investors have recently added to or reduced their stakes in the stock. Ramsey Quantitative Systems acquired a new position in shares of Interactive Brokers Group in the 2nd quarter worth approximately $44,000. Darwin Wealth Management LLC acquired a new position in Interactive Brokers Group during the second quarter worth $45,000. Smartleaf Asset Management LLC boosted its position in shares of Interactive Brokers Group by 191.8% during the second quarter. Smartleaf Asset Management LLC now owns 1,249 shares of the financial services provider’s stock worth $67,000 after buying an additional 821 shares during the period. Wilmington Savings Fund Society FSB grew its stake in shares of Interactive Brokers Group by 37.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,167 shares of the financial services provider’s stock valued at $80,000 after buying an additional 318 shares in the last quarter. Finally, Wealth Watch Advisors INC acquired a new stake in shares of Interactive Brokers Group in the third quarter valued at $89,000. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IBKR. Piper Sandler set a $80.00 price target on Interactive Brokers Group and gave the company an “overweight” rating in a research note on Tuesday, October 14th. CICC Research initiated coverage on Interactive Brokers Group in a research report on Monday, October 27th. They issued an “outperform” rating and a $78.00 price objective for the company. Zacks Research downgraded Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. The Goldman Sachs Group reissued a “buy” rating and issued a $91.00 price target on shares of Interactive Brokers Group in a research note on Friday, October 17th. Finally, Barclays set a $82.00 price target on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a report on Thursday, January 8th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.