Interactive Brokers Group (NASDAQ:IBKR) Shares Gap Down on Disappointing Earnings

Interactive Brokers Group, Inc. (NASDAQ:IBKR)’s stock price gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $152.98, but opened at $148.23. Interactive Brokers Group shares last traded at $148.73, with a volume of 1,041,754 shares trading hands.

The financial services provider reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.03). The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $1.32 billion. Interactive Brokers Group had a net margin of 7.88% and a return on equity of 4.88%. During the same quarter in the prior year, the business earned $1.55 EPS.

Analyst Ratings Changes

IBKR has been the topic of several research analyst reports. Barclays dropped their price objective on shares of Interactive Brokers Group from $166.00 to $165.00 and set an “overweight” rating on the stock in a research report on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $163.00 price objective on shares of Interactive Brokers Group in a research report on Wednesday. UBS Group increased their price objective on shares of Interactive Brokers Group from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lowered shares of Interactive Brokers Group from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $128.00 to $135.00 in a research report on Thursday, July 11th. Finally, Jefferies Financial Group increased their price objective on shares of Interactive Brokers Group from $152.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $143.00.

Hedge Funds Weigh In On Interactive Brokers Group

A number of hedge funds have recently bought and sold shares of the business. Rise Advisors LLC acquired a new stake in Interactive Brokers Group during the first quarter worth about $30,000. Tortoise Investment Management LLC grew its stake in Interactive Brokers Group by 76.6% during the second quarter. Tortoise Investment Management LLC now owns 256 shares of the financial services provider’s stock worth $31,000 after buying an additional 111 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new stake in Interactive Brokers Group during the second quarter worth about $32,000. Kapitalo Investimentos Ltda grew its stake in Interactive Brokers Group by 278.0% during the fourth quarter. Kapitalo Investimentos Ltda now owns 480 shares of the financial services provider’s stock worth $40,000 after buying an additional 353 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Interactive Brokers Group by 350.0% during the third quarter. UMB Bank n.a. now owns 288 shares of the financial services provider’s stock worth $40,000 after buying an additional 224 shares in the last quarter. 23.80% of the stock is owned by institutional investors.

Interactive Brokers Group Stock Down 4.0 %

The stock has a market capitalization of $61.81 billion, a price-to-earnings ratio of 25.09, a P/E/G ratio of 1.34 and a beta of 0.80. The business’s 50 day simple moving average is $131.45 and its 200-day simple moving average is $123.90.

Interactive Brokers Group Company Profile

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.