Zacks Research Downgrades Interactive Brokers Group (NASDAQ:IBKR) to Hold

Interactive Brokers Group (NASDAQ:IBKR) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently commented on IBKR. Wall Street Zen upgraded Interactive Brokers Group from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Interactive Brokers Group in a research note on Saturday, September 27th. BMO Capital Markets initiated coverage on shares of Interactive Brokers Group in a report on Friday. They issued an “outperform” rating and a $82.00 price objective for the company. Piper Sandler increased their target price on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, Citigroup boosted their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.47.

Interactive Brokers Group Stock Down 0.8%

Shares of NASDAQ IBKR opened at $70.36 on Thursday. The business’s 50 day moving average is $64.33 and its two-hundred day moving average is $54.56. Interactive Brokers Group has a 52-week low of $32.82 and a 52-week high of $71.78. The firm has a market cap of $119.34 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 2.91 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the business posted $1.76 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts anticipate that Interactive Brokers Group will post 7.46 EPS for the current fiscal year.

Insider Buying and Selling at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the sale, the insider owned 461,500 shares of the company’s stock, valued at approximately $31,146,635. This trade represents a 29.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul Jonathan Brody sold 116,861 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $64.73, for a total value of $7,564,412.53. Following the sale, the chief financial officer owned 158,954 shares of the company’s stock, valued at approximately $10,289,092.42. The trade was a 42.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,205,683 shares of company stock worth $77,217,965 in the last three months. 2.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Interactive Brokers Group

Several institutional investors have recently modified their holdings of the stock. Compound Planning Inc. boosted its stake in Interactive Brokers Group by 1.1% in the first quarter. Compound Planning Inc. now owns 5,784 shares of the financial services provider’s stock valued at $958,000 after acquiring an additional 62 shares in the last quarter. CWM LLC lifted its holdings in shares of Interactive Brokers Group by 6.6% in the 1st quarter. CWM LLC now owns 1,062 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 66 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Interactive Brokers Group by 0.8% in the 1st quarter. Crossmark Global Holdings Inc. now owns 8,512 shares of the financial services provider’s stock valued at $1,410,000 after purchasing an additional 70 shares during the last quarter. USS Investment Management Ltd boosted its position in shares of Interactive Brokers Group by 0.4% in the 1st quarter. USS Investment Management Ltd now owns 20,161 shares of the financial services provider’s stock valued at $3,339,000 after purchasing an additional 76 shares during the period. Finally, Ritholtz Wealth Management grew its stake in Interactive Brokers Group by 4.1% during the 1st quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider’s stock worth $329,000 after buying an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

About Interactive Brokers Group

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.