Interactive Brokers Group, Inc. (NASDAQ:IBKR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “Interactive Brokers’ shares have outperformed the Zacks categorized Investment Brokers industry in the last six months. The company’s second-quarter 2017 earnings lagged the Zacks Consensus Estimate, primarily due to higher expenses. Nevertheless, the company continues with its plans of focusing on strengthening its Electronic Brokerage segment. So in sync with this, in May, it announced a deal to divest its U.S. options-market-making business. While low level of compensation expenses relative to net revenue remains a major catalyst for the company, the restructuring effort is expected to lead to near-term rise in severance and other costs related to segment closure. Also, the company’s high dependence on the IBG LLC is a matter of concern and might hurt its financials if it fails to provide sufficient funds for tax payments.”

IBKR has been the topic of a number of other research reports. Wells Fargo & Company cut shares of Interactive Brokers Group from a “market perform” rating to an “underperform” rating in a research report on Monday, April 3rd. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $38.00 target price on shares of Interactive Brokers Group in a research report on Thursday, July 6th. ValuEngine upgraded shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 8th. Rosenblatt Securities assumed coverage on shares of Interactive Brokers Group in a research report on Thursday, July 13th. They issued a “neutral” rating and a $40.00 target price on the stock. Finally, Keefe, Bruyette & Woods cut shares of Interactive Brokers Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $44.00 to $38.00 in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Interactive Brokers Group presently has an average rating of “Hold” and an average price target of $39.17.

Shares of Interactive Brokers Group (NASDAQ:IBKR) traded down 0.0266% on Thursday, hitting $37.2001. 432,452 shares of the stock traded hands. The firm has a market cap of $2.53 billion, a P/E ratio of 34.1599 and a beta of 0.93. The stock has a 50-day moving average price of $37.00 and a 200 day moving average price of $36.49. Interactive Brokers Group has a 52 week low of $31.97 and a 52 week high of $39.68.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $387 million during the quarter, compared to analysts’ expectations of $377.65 million. Interactive Brokers Group had a return on equity of 1.20% and a net margin of 4.97%. Interactive Brokers Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 EPS. Equities research analysts predict that Interactive Brokers Group will post $1.51 EPS for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC boosted its position in Interactive Brokers Group by 42.5% in the first quarter. Clear Harbor Asset Management LLC now owns 15,080 shares of the financial services provider’s stock worth $524,000 after buying an additional 4,500 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in Interactive Brokers Group by 42.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,508 shares of the financial services provider’s stock worth $191,000 after buying an additional 1,632 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management boosted its position in Interactive Brokers Group by 4.1% in the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 25,767 shares of the financial services provider’s stock worth $895,000 after buying an additional 1,010 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Interactive Brokers Group by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 7,540 shares of the financial services provider’s stock worth $261,000 after buying an additional 160 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in Interactive Brokers Group by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 27,700 shares of the financial services provider’s stock worth $962,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 14.33% of the company’s stock.

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 120 electronic exchanges and market centers around the world and offering custody, prime brokerage, securities and margin lending services to customers.

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Analyst Recommendations for Interactive Brokers Group (NASDAQ:IBKR)

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