Interactive Brokers Group (NASDAQ:IBKR) Now Covered by Analysts at China Renaissance

Investment analysts at China Renaissance initiated coverage on shares of Interactive Brokers Group (NASDAQ:IBKR) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage set a “hold” rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Interactive Brokers Group in a report on Wednesday, April 8th. They set a “market perform” rating and a $75.00 target price for the company. The Goldman Sachs Group set a $98.00 price target on shares of Interactive Brokers Group in a research report on Friday, May 1st. Jefferies Financial Group cut their price objective on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Weiss Ratings lowered Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 29th. Finally, Wolfe Research assumed coverage on Interactive Brokers Group in a report on Monday, June 8th. They set an “outperform” rating and a $101.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.38.

Interactive Brokers Group Price Performance

Shares of NASDAQ IBKR traded down $1.60 during trading on Tuesday, hitting $94.39. 329,468 shares of the company were exchanged, compared to its average volume of 4,990,505. Interactive Brokers Group has a 1 year low of $56.33 and a 1 year high of $97.84. The company has a market cap of $160.12 billion, a price-to-earnings ratio of 40.72, a PEG ratio of 2.52 and a beta of 1.33. The firm’s fifty day moving average price is $87.04 and its 200 day moving average price is $76.73.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.69 billion. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.94 earnings per share. On average, research analysts forecast that Interactive Brokers Group will post 2.46 earnings per share for the current year.

Insider Activity at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the transaction, the director directly owned 173,482 shares in the company, valued at $13,345,970.26. This represents a 13.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Interactive Brokers Group

Several institutional investors and hedge funds have recently bought and sold shares of IBKR. Reflection Asset Management purchased a new position in Interactive Brokers Group during the fourth quarter worth approximately $26,000. IMA Advisory Services Inc. grew its stake in shares of Interactive Brokers Group by 64.3% during the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock valued at $29,000 after buying an additional 178 shares during the period. Tobam purchased a new stake in shares of Interactive Brokers Group during the 4th quarter valued at $30,000. Entrust Financial LLC acquired a new stake in shares of Interactive Brokers Group during the 4th quarter worth $31,000. Finally, SHP Wealth Management purchased a new position in shares of Interactive Brokers Group in the 4th quarter worth $31,000. Institutional investors and hedge funds own 23.80% of the company’s stock.

About Interactive Brokers Group

Interactive Brokers Group, Inc (NASDAQ: IBKR) is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.