Interactive Brokers Group, Inc. (NASDAQ:IBKR) Short Interest Down 6.6% in March
Interactive Brokers Group, Inc. (NASDAQ:IBKR – Get Free Report) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 2,690,000 shares, a decline of 6.6% from the March 15th total of 2,880,000 shares. Based on an average daily trading volume, of 1,140,000 shares, the days-to-cover ratio is currently 2.4 days.
Insiders Place Their Bets
In related news, insider Thomas Aj Frank sold 44,643 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $91.62, for a total transaction of $4,090,191.66. Following the transaction, the insider now owns 354,081 shares in the company, valued at $32,440,901.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Vice Chairman Earl H. Nemser sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $104.86, for a total transaction of $524,300.00. Following the completion of the sale, the insider now directly owns 113,770 shares of the company’s stock, valued at $11,929,922.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas Aj Frank sold 44,643 shares of Interactive Brokers Group stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $91.62, for a total transaction of $4,090,191.66. Following the completion of the transaction, the insider now owns 354,081 shares in the company, valued at approximately $32,440,901.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 428,883 shares of company stock worth $40,395,135. 3.21% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Interactive Brokers Group
Several institutional investors and hedge funds have recently modified their holdings of the stock. Contravisory Investment Management Inc. purchased a new stake in shares of Interactive Brokers Group during the fourth quarter worth $25,000. Rise Advisors LLC purchased a new stake in shares of Interactive Brokers Group during the 1st quarter worth about $30,000. Eagle Bay Advisors LLC acquired a new stake in shares of Interactive Brokers Group during the 2nd quarter valued at about $31,000. Rakuten Securities Inc. bought a new stake in shares of Interactive Brokers Group in the 4th quarter valued at approximately $34,000. Finally, Headlands Technologies LLC acquired a new position in Interactive Brokers Group in the third quarter worth approximately $40,000. 23.80% of the stock is currently owned by hedge funds and other institutional investors.
Interactive Brokers Group Price Performance
NASDAQ IBKR opened at $109.23 on Thursday. The firm has a market capitalization of $45.99 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.24 and a beta of 0.83. The company has a 50 day simple moving average of $108.19 and a 200-day simple moving average of $92.55. Interactive Brokers Group has a 52-week low of $70.83 and a 52-week high of $116.92.
Interactive Brokers Group (NASDAQ:IBKR – Get Free Report) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Interactive Brokers Group had a net margin of 7.72% and a return on equity of 4.66%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company posted $1.30 EPS. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, analysts predict that Interactive Brokers Group will post 6.36 EPS for the current year.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. The Goldman Sachs Group upgraded Interactive Brokers Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $88.00 to $102.00 in a report on Tuesday, January 9th. UBS Group dropped their price target on Interactive Brokers Group from $108.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 9th. Barclays upped their price objective on shares of Interactive Brokers Group from $132.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup raised their target price on shares of Interactive Brokers Group from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, Piper Sandler boosted their price target on shares of Interactive Brokers Group from $105.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.
Check Out Our Latest Analysis on IBKR
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.
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