Zacks Investment Research upgraded shares of Interactive Brokers Group (NASDAQ:IBKR) from a hold rating to a strong-buy rating in a research report released on Monday, January 8th. Zacks Investment Research currently has $68.00 price target on the financial services provider’s stock.
According to Zacks, “Interactive Brokers’ shares have significantly outperformed the industry in the past six months. Nevertheless, the company has surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. The company continues with its plans of streamlining operations and focus on strengthening its Electronic Brokerage segment. In sync with this, it sold U.S. options-market-making business (Timber Hill), which along with the other restructuring efforts will support financials. However, the company’s high dependence on IBG remains a concern because if IBG LLC fails to provide sufficient funds to pay taxes or for any other purpose, its financial condition may suffer.”
IBKR has been the subject of a number of other research reports. BidaskClub cut shares of Interactive Brokers Group from a strong-buy rating to a buy rating in a research report on Saturday, December 16th. Goldman Sachs Group cut shares of Interactive Brokers Group from a neutral rating to a sell rating and set a $59.00 target price for the company. in a research report on Monday, January 8th. Finally, SunTrust Banks increased their target price on shares of Interactive Brokers Group to $48.00 and gave the stock an average rating in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company’s stock. Interactive Brokers Group has an average rating of Hold and an average price target of $48.33.
Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. The company had revenue of $426.00 million during the quarter, compared to the consensus estimate of $382.85 million. Interactive Brokers Group had a net margin of 5.29% and a return on equity of 1.35%. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. equities analysts predict that Interactive Brokers Group will post 1.49 EPS for the current year.
In other Interactive Brokers Group news, insider Thomas Aj Frank sold 73,265 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $53.90, for a total value of $3,948,983.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Denis Mendonca sold 1,156 shares of the firm’s stock in a transaction dated Friday, October 20th. The shares were 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. Insiders sold a total of 392,015 shares of company stock valued at $20,400,486 in the last 90 days. Corporate insiders own 3.41% of the company’s stock.
Large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its position in shares of Interactive Brokers Group by 27.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,966 shares of the financial services provider’s stock worth $111,000 after buying an additional 647 shares during the period. Riverhead Capital Management LLC grew its position in shares of Interactive Brokers Group by 71.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,095 shares of the financial services provider’s stock worth $116,000 after buying an additional 1,295 shares during the period. World Asset Management Inc acquired a new stake in shares of Interactive Brokers Group during the 3rd quarter worth approximately $214,000. Everence Capital Management Inc. acquired a new stake in shares of Interactive Brokers Group during the 3rd quarter worth approximately $224,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Interactive Brokers Group during the 3rd quarter worth approximately $240,000. Institutional investors own 15.79% of the company’s stock.
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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.
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