Interactive Brokers Group (IBKR) Fell Despite Earnings Beat

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was – 14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the fourth quarter 2023 investor letter. Headquartered in Greenwich, Connecticut, Interactive Brokers Group, Inc. (NASDAQ:IBKR) provides an automated electronic broker platform. On March 27, 2024, Interactive Brokers Group, Inc. (NASDAQ:IBKR) stock closed at $111.43 per share. One-month return of Interactive Brokers Group, Inc. (NASDAQ:IBKR) was 2.62%, and its shares gained 37.36% of their value over the last 52 weeks. Interactive Brokers Group, Inc. (NASDAQ:IBKR) has a market capitalization of $46.444 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Interactive Brokers Group, Inc. (NASDAQ:IBKR) in its fourth quarter 2023 investor letter:

“In Financials, we prefer well-placed insurance companies and niche businesses while tending to avoid banks which face credit deterioration and rising deposit costs. Interactive Brokers Group, Inc. (NASDAQ:IBKR) operates as an automated electronic broker worldwide. Third quarter’s earnings were above consensus estimates, aided by the combination of higher revenues and lower expenses. Despite the beat, its shares lost -4% due to reduced expectations around inorganic account growth as two new Asian broker relationships have been pushed out.”

A skilled senior trader executing an order in a fast paced trading environment.

Interactive Brokers Group, Inc. (NASDAQ:IBKR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Interactive Brokers Group, Inc. (NASDAQ:IBKR) was held by 45 hedge fund portfolios, compared to 46 in the previous quarter, according to our database.

We discussed Interactive Brokers Group, Inc. (NASDAQ:IBKR) in another article and shared the list of high growth non-tech stocks that are profitable. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.

    Input this code: captcha