Monetta Financial Services Inc. Takes Position in Interactive Brokers Group, Inc. $IBKR

Monetta Financial Services Inc. purchased a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 20,000 shares of the financial services provider’s stock, valued at approximately $1,108,000.

A number of other institutional investors have also recently bought and sold shares of the business. N.E.W. Advisory Services LLC bought a new position in shares of Interactive Brokers Group during the 1st quarter worth approximately $26,000. ORG Partners LLC lifted its holdings in Interactive Brokers Group by 312.9% during the 2nd quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 363 shares during the last quarter. Huntington National Bank lifted its holdings in Interactive Brokers Group by 51.8% during the 2nd quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 176 shares during the last quarter. Contravisory Investment Management Inc. boosted its position in Interactive Brokers Group by 300.0% during the second quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 423 shares during the period. Finally, Private Wealth Asset Management LLC increased its holdings in shares of Interactive Brokers Group by 300.0% in the second quarter. Private Wealth Asset Management LLC now owns 580 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 435 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.

Interactive Brokers Group Stock Performance

Shares of IBKR opened at $72.70 on Thursday. The firm has a market cap of $123.31 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 2.16 and a beta of 1.22. Interactive Brokers Group, Inc. has a 52-week low of $32.82 and a 52-week high of $73.35. The business’s 50 day moving average price is $67.50 and its two-hundred day moving average price is $60.27.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.03%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The business’s revenue was up 21.2% compared to the same quarter last year. Research analysts predict that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, December 1st will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. Interactive Brokers Group’s payout ratio is presently 15.38%.

Insider Buying and Selling

In other news, Director Lawrence E. Harris sold 22,000 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $67.63, for a total transaction of $1,487,860.00. Following the transaction, the director directly owned 231,704 shares of the company’s stock, valued at $15,670,141.52. This represents a 8.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul Jonathan Brody sold 116,861 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $64.73, for a total value of $7,564,412.53. Following the completion of the transaction, the chief financial officer owned 158,954 shares in the company, valued at approximately $10,289,092.42. This represents a 42.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,026,711 shares of company stock worth $65,238,880. 2.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on IBKR shares. Piper Sandler set a $80.00 target price on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Zacks Research raised shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. CICC Research began coverage on shares of Interactive Brokers Group in a report on Monday, October 27th. They issued an “outperform” rating and a $78.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Interactive Brokers Group in a report on Tuesday, October 14th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $91.00 target price on shares of Interactive Brokers Group in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Interactive Brokers Group has an average rating of “Moderate Buy” and a consensus target price of $72.08.

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.