BMO Capital Markets Initiates Coverage on Interactive Brokers Group (NASDAQ:IBKR)

BMO Capital Markets started coverage on shares of Interactive Brokers Group (NASDAQ:IBKR) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $82.00 price target on the financial services provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 16.54% from the stock’s previous close.

A number of other research firms also recently weighed in on IBKR. Wall Street Zen upgraded Interactive Brokers Group from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. Barclays increased their price objective on Interactive Brokers Group from $65.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Citigroup increased their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the company a “buy” rating in a report on Monday, July 7th. Finally, Piper Sandler increased their price objective on Interactive Brokers Group from $45.50 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Interactive Brokers Group has a consensus rating of “Moderate Buy” and a consensus price target of $64.47.

Interactive Brokers Group Stock Performance

Shares of IBKR opened at $70.36 on Friday. Interactive Brokers Group has a 52 week low of $32.82 and a 52 week high of $71.78. The stock has a market capitalization of $119.34 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 2.89 and a beta of 1.22. The stock has a fifty day moving average of $64.33 and a 200-day moving average of $54.63.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.Interactive Brokers Group’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.76 EPS. As a group, equities analysts forecast that Interactive Brokers Group will post 7.46 EPS for the current year.

Insider Buying and Selling

In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 17,058 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $65.78, for a total value of $1,122,075.24. Following the completion of the sale, the chief financial officer owned 28,289 shares of the company’s stock, valued at approximately $1,860,850.42. This trade represents a 37.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,205,683 shares of company stock valued at $77,217,965 over the last ninety days. Company insiders own 2.97% of the company’s stock.

Hedge Funds Weigh In On Interactive Brokers Group

Large investors have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC bought a new position in Interactive Brokers Group in the 1st quarter valued at about $26,000. ORG Partners LLC lifted its position in Interactive Brokers Group by 312.9% in the 2nd quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 363 shares in the last quarter. Huntington National Bank lifted its position in Interactive Brokers Group by 51.8% in the 2nd quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 176 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in Interactive Brokers Group by 300.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 423 shares in the last quarter. Finally, Private Wealth Asset Management LLC lifted its position in Interactive Brokers Group by 300.0% in the 2nd quarter. Private Wealth Asset Management LLC now owns 580 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 435 shares in the last quarter. Institutional investors own 23.80% of the company’s stock.

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.