Monetta Financial Services Inc. Purchases New Shares in Interactive Brokers Group, Inc. $IBKR

Monetta Financial Services Inc. purchased a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the second quarter, Holdings Channel.com reports. The fund purchased 20,000 shares of the financial services provider’s stock, valued at approximately $1,108,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in Interactive Brokers Group by 50.2% during the first quarter. Goldman Sachs Group Inc. now owns 597,176 shares of the financial services provider’s stock valued at $98,886,000 after buying an additional 199,467 shares during the period. Thrive Wealth Management LLC boosted its stake in Interactive Brokers Group by 243.8% in the second quarter. Thrive Wealth Management LLC now owns 8,691 shares of the financial services provider’s stock valued at $482,000 after acquiring an additional 6,163 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Interactive Brokers Group by 312.8% during the 2nd quarter. TD Asset Management Inc now owns 104,644 shares of the financial services provider’s stock worth $5,798,000 after purchasing an additional 79,294 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Interactive Brokers Group by 1,093.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 7,378 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 6,760 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in shares of Interactive Brokers Group by 237.8% in the 2nd quarter. Truist Financial Corp now owns 202,665 shares of the financial services provider’s stock worth $11,230,000 after purchasing an additional 142,662 shares during the period. 23.80% of the stock is owned by hedge funds and other institutional investors.

Interactive Brokers Group Price Performance

NASDAQ IBKR opened at $72.70 on Thursday. The company’s 50 day simple moving average is $67.50 and its two-hundred day simple moving average is $60.27. Interactive Brokers Group, Inc. has a 1 year low of $32.82 and a 1 year high of $73.35. The stock has a market capitalization of $123.31 billion, a PE ratio of 34.91, a P/E/G ratio of 2.16 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.47 billion. During the same period in the previous year, the business earned $1.61 EPS. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, research analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

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

Insider Transactions at Interactive Brokers Group

In related news, CFO Paul Jonathan Brody sold 116,861 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $64.73, for a total value of $7,564,412.53. Following the transaction, the chief financial officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence E. Harris sold 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $67.63, for a total transaction of $1,487,860.00. Following the completion of the sale, the director directly owned 231,704 shares in the company, valued at $15,670,141.52. This represents a 8.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,026,711 shares of company stock worth $65,238,880 over the last 90 days. Corporate insiders own 2.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on IBKR shares. CICC Research assumed coverage on Interactive Brokers Group in a research report on Monday, October 27th. They issued an “outperform” rating and a $78.00 target price for the company. The Goldman Sachs Group reissued a “buy” rating and issued a $91.00 price objective on shares of Interactive Brokers Group in a report on Friday, October 17th. Barclays set a $80.00 price objective on Interactive Brokers Group and gave the company an “overweight” rating in a research note on Friday, October 17th. BMO Capital Markets increased their target price on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Piper Sandler set a $80.00 price target on shares of Interactive Brokers Group and gave the company an “overweight” rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock 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.