Interactive Brokers Group (NASDAQ:IBKR) Upgraded at Zacks Research

Interactive Brokers Group (NASDAQ:IBKR) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. BMO Capital Markets raised their price target on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods started coverage on Interactive Brokers Group in a report on Wednesday, April 8th. They issued a “market perform” rating and a $75.00 price objective on the stock. Wolfe Research assumed coverage on Interactive Brokers Group in a research report on Monday, June 8th. They issued an “outperform” rating and a $101.00 target price on the stock. The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a research note on Friday, May 1st. Finally, Bank of America increased their price target on Interactive Brokers Group from $83.00 to $106.00 and gave the stock a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Interactive Brokers Group currently has a consensus rating of “Moderate Buy” and an average price target of $93.89.

Interactive Brokers Group Trading Down 5.3%

Shares of IBKR opened at $92.21 on Wednesday. Interactive Brokers Group has a 12-month low of $58.80 and a 12-month high of $97.84. The firm has a 50-day moving average price of $89.31 and a 200 day moving average price of $78.40. The firm has a market capitalization of $156.42 billion, a P/E ratio of 39.75, a P/E/G ratio of 2.26 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the previous year, the firm earned $1.94 earnings per share. Interactive Brokers Group’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities research analysts predict that Interactive Brokers Group will post 2.51 earnings per share for the current fiscal year.

Insider Activity at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total value of $2,000,180.00. Following the completion of the sale, the director directly owned 173,482 shares of the company’s stock, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Interactive Brokers Group

Several hedge funds have recently bought and sold shares of the company. Tema ETFs LLC grew its position in Interactive Brokers Group by 10.6% in the 2nd quarter. Tema ETFs LLC now owns 9,050 shares of the financial services provider’s stock valued at $788,000 after acquiring an additional 870 shares in the last quarter. Fiduciary Financial Group LLC increased its stake in Interactive Brokers Group by 3.1% during the second quarter. Fiduciary Financial Group LLC now owns 3,968 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 118 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Interactive Brokers Group by 5.7% during the second quarter. Handelsbanken Fonder AB now owns 124,883 shares of the financial services provider’s stock worth $10,870,000 after purchasing an additional 6,756 shares in the last quarter. Financial Management Professionals Inc. lifted its position in shares of Interactive Brokers Group by 3,043.5% during the second quarter. Financial Management Professionals Inc. now owns 723 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 700 shares in the last quarter. Finally, Sapient Capital LLC purchased a new position in shares of Interactive Brokers Group in the second quarter valued at approximately $214,000. 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.