Interactive Brokers Group (NASDAQ:IBKR) Upgraded to “Strong-Buy” at Wolfe Research

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

Several other research firms also recently issued reports on IBKR. Jefferies Financial Group cut their price objective on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Monday, April 6th. The Goldman Sachs Group set a $98.00 price objective on Interactive Brokers Group in a report on Friday, May 1st. Zacks Research downgraded Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. BMO Capital Markets boosted their price objective on Interactive Brokers Group from $80.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Finally, Keefe, Bruyette & Woods started coverage on Interactive Brokers Group in a report on Wednesday, April 8th. They set a “market perform” rating and a $75.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.22.

Interactive Brokers Group Trading Up 3.5%

Shares of NASDAQ IBKR opened at $87.35 on Monday. Interactive Brokers Group has a twelve month low of $49.15 and a twelve month high of $91.02. The company has a market capitalization of $148.18 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 2.33 and a beta of 1.32. The firm has a 50-day moving average of $79.44 and a two-hundred day moving average of $72.82.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the company earned $1.94 EPS. Interactive Brokers Group’s revenue was up 17.0% on a year-over-year basis. As a group, research analysts predict that Interactive Brokers Group will post 2.46 earnings per share for the current year.

Insider Buying and Selling at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the company’s stock in a transaction dated 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 transaction, the director 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 document filed with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Interactive Brokers Group

A number of large investors have recently made changes to their positions in IBKR. AQR Capital Management LLC increased its holdings in shares of Interactive Brokers Group by 24.7% in the 1st quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock valued at $2,269,000 after purchasing an additional 2,713 shares during the period. Brown Advisory Inc. increased its holdings in shares of Interactive Brokers Group by 307.9% in the 2nd quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider’s stock valued at $803,000 after purchasing an additional 10,943 shares during the period. Cerity Partners LLC acquired a new position in shares of Interactive Brokers Group in the 2nd quarter valued at about $318,000. Daiwa Securities Group Inc. increased its holdings in shares of Interactive Brokers Group by 291.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider’s stock valued at $1,973,000 after purchasing an additional 26,500 shares during the period. Finally, AXA S.A. increased its holdings in Interactive Brokers Group by 128.1% in the second quarter. AXA S.A. now owns 12,816 shares of the financial services provider’s stock worth $710,000 after buying an additional 7,197 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.

Interactive Brokers Group Company Profile

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.