Interactive Brokers Group (NASDAQ:IBKR) Downgraded to Hold Rating by Zacks Research

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 note issued on Thursday,Zacks.com reports.

Several other equities research analysts also recently commented on the company. BMO Capital Markets initiated coverage on Interactive Brokers Group in a report on Friday. They set an “outperform” rating and a $82.00 target price on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Interactive Brokers Group in a research note on Saturday, September 27th. Barclays lifted their target price on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Citigroup lifted their target price on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. Finally, Piper Sandler boosted their price objective on Interactive Brokers Group from $45.50 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.47.

Interactive Brokers Group Trading Down 0.8%

Shares of NASDAQ:IBKR opened at $70.36 on Thursday. The stock’s 50-day moving average price is $64.33 and its two-hundred day moving average price is $54.56. Interactive Brokers Group has a 12-month low of $32.82 and a 12-month 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 issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the company earned $1.76 EPS. As a group, research analysts forecast that Interactive Brokers Group will post 7.46 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Paul Jonathan Brody sold 17,058 shares of the business’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $65.78, for a total transaction of $1,122,075.24. Following the sale, the chief financial officer directly owned 28,289 shares of the company’s stock, valued at $1,860,850.42. The trade was a 37.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 1,205,683 shares of company stock worth $77,217,965 over the last quarter. 2.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Interactive Brokers Group

Institutional investors and hedge funds have recently modified their holdings of the stock. N.E.W. Advisory Services LLC purchased a new position in shares of Interactive Brokers Group during the first quarter valued at $26,000. City Holding Co. purchased a new position in Interactive Brokers Group in the first quarter valued at about $33,000. Nvwm LLC purchased a new position in Interactive Brokers Group in the first quarter valued at about $33,000. ASR Vermogensbeheer N.V. acquired a new stake in shares of Interactive Brokers Group in the first quarter worth about $33,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of Interactive Brokers Group in the first quarter worth about $43,000. 23.80% of the stock is owned by institutional investors and hedge funds.

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.