Interactive Brokers Group (NASDAQ:IBKR) Shares Gap Up After Strong Earnings

Interactive Brokers Group, Inc. (NASDAQ:IBKR)’s share price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $192.83, but opened at $207.00. Interactive Brokers Group shares last traded at $203.70, with a volume of 525,031 shares trading hands.

The financial services provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.22. Interactive Brokers Group had a return on equity of 4.83% and a net margin of 7.89%. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1,372,590.34 billion. During the same period last year, the business earned $1.52 EPS. The business’s revenue was up 21.8% on a year-over-year basis.

Analyst Ratings Changes

Several equities research analysts have issued reports on IBKR shares. Piper Sandler increased their target price on Interactive Brokers Group from $163.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Jefferies Financial Group lifted their price objective on shares of Interactive Brokers Group from $152.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, October 4th. The Goldman Sachs Group boosted their price objective on Interactive Brokers Group from $171.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. UBS Group lifted their price objective on Interactive Brokers Group from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Citigroup raised their target price on Interactive Brokers Group from $180.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $191.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Townsquare Capital LLC increased its stake in Interactive Brokers Group by 1.2% in the third quarter. Townsquare Capital LLC now owns 5,456 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 67 shares during the period. TD Private Client Wealth LLC grew its stake in Interactive Brokers Group by 0.3% in the third quarter. TD Private Client Wealth LLC now owns 19,797 shares of the financial services provider’s stock worth $2,759,000 after purchasing an additional 69 shares in the last quarter. Versant Capital Management Inc raised its position in Interactive Brokers Group by 66.4% during the 4th quarter. Versant Capital Management Inc now owns 178 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. Koshinski Asset Management Inc. grew its position in shares of Interactive Brokers Group by 3.7% during the 4th quarter. Koshinski Asset Management Inc. now owns 2,252 shares of the financial services provider’s stock worth $398,000 after buying an additional 81 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Interactive Brokers Group by 90.7% during the fourth quarter. Blue Trust Inc. now owns 185 shares of the financial services provider’s stock valued at $33,000 after buying an additional 88 shares during the period. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Price Performance

The firm has a fifty day moving average of $184.08 and a two-hundred day moving average of $151.45. The stock has a market capitalization of $87.54 billion, a P/E ratio of 31.63, a P/E/G ratio of 1.38 and a beta of 0.87.

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.