Interactive Brokers Group (IBKR) Lowered to Buy at BidaskClub

Interactive Brokers Group (NASDAQ:IBKR) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Interactive Brokers Group from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Tuesday, September 19th. SunTrust Banks upped their target price on shares of Interactive Brokers Group to $48.00 and gave the company an “average” rating in a report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $41.67.

Interactive Brokers Group (IBKR) opened at $60.40 on Friday. Interactive Brokers Group has a 12 month low of $33.01 and a 12 month high of $62.33. The firm has a market cap of $24,722.95, a price-to-earnings ratio of 51.77, a PEG ratio of 3.04 and a beta of 1.03.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.05. Interactive Brokers Group had a net margin of 5.29% and a return on equity of 1.35%. The business had revenue of $426.00 million for the quarter, compared to analysts’ expectations of $382.85 million. During the same period in the prior year, the company posted $0.30 EPS. The business’s revenue for the quarter was up 23.5% on a year-over-year basis. research analysts predict that Interactive Brokers Group will post 1.47 EPS for the current year.

In related news, Vice Chairman Earl H. Nemser sold 767 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $47.68, for a total transaction of $36,570.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Denis Mendonca sold 1,156 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $49.50, for a total transaction of $57,222.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 974,455 shares of company stock worth $46,966,450. Insiders own 3.41% of the company’s stock.

A number of large investors have recently modified their holdings of IBKR. Cantillon Capital Management LLC purchased a new position in shares of Interactive Brokers Group during the 2nd quarter valued at approximately $72,067,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Interactive Brokers Group by 68.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,974,810 shares of the financial services provider’s stock valued at $73,898,000 after buying an additional 803,838 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Interactive Brokers Group by 105.4% in the third quarter. Victory Capital Management Inc. now owns 915,589 shares of the financial services provider’s stock valued at $41,238,000 after buying an additional 469,755 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Interactive Brokers Group by 206.6% in the third quarter. Russell Investments Group Ltd. now owns 504,021 shares of the financial services provider’s stock valued at $22,701,000 after buying an additional 339,648 shares during the last quarter. Finally, FMR LLC lifted its stake in Interactive Brokers Group by 54.1% in the second quarter. FMR LLC now owns 722,777 shares of the financial services provider’s stock valued at $27,047,000 after buying an additional 253,611 shares during the last quarter. 15.80% of the stock is owned by institutional investors.

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About Interactive Brokers Group

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.

Analyst Recommendations for Interactive Brokers Group (NASDAQ:IBKR)

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