Interactive Brokers Group Shares Down 3.4% on Disappointing Earnings (IBKR)
Shares of Interactive Brokers Group (NASDAQ:IBKR) were down 3.4% on Wednesday following a dissappointing earnings announcement, Analyst RN reports. The stock traded as low as $22.38 and last traded at $22.61, with a volume of 344,486 shares. The stock had previously closed at $23.40.
The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.03. The company had revenue of $309.30 million for the quarter, compared to the consensus estimate of $331.58 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis.
IBKR has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Interactive Brokers Group from $26.00 to $27.00 in a research note on Friday, July 11th. Separately, analysts at Zacks downgraded shares of Interactive Brokers Group from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 9th. They now have a $24.50 price target on the stock. Finally, analysts at Zacks upgraded shares of Interactive Brokers Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 27th. They now have a $25.50 price target on the stock.
In other Interactive Brokers Group news, SVP Milan Galik sold 1,800 shares of the stock on the open market in a transaction dated Monday, July 14th. The shares were sold at an average price of $22.90, for a total transaction of $41,220.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
The stock’s 50-day moving average is $23.29 and its 200-day moving average is $22.6. The company has a market cap of $1.235 billion and a price-to-earnings ratio of 25.03. Interactive Brokers Group also was the recipient of a large drop in short interest in June. As of June 30th, there was short interest totalling 599,828 shares, a drop of 34.3% from the June 13th total of 913,054 shares. Based on an average daily volume of 453,553 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.1% of the shares of the stock are short sold.
Interactive Brokers Group, Inc (NASDAQ:IBKR) is a holding company.
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