Interactive Brokers Group, Inc. $IBKR is Bares Capital Management Inc.'s 2nd Largest Position

Key Points

• Bares Capital Management Inc. reduced its stake in Interactive Brokers Group by 11.3%, owning approximately 844,537 shares valued at $139.85 million, making it the firm's second largest holding.
• Institutional investors have increased their stakes significantly, with American Century Companies and GAMMA Investing increasing their holdings by over 1,476% and 22,211%, respectively.
• Interactive Brokers Group announced a quarterly dividend of $0.08 per share, set to be paid on September 12th, reflecting a 0.5% yield.

Bares Capital Management Inc. decreased its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 11.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 844,537 shares of the financial services provider's stock after selling 107,110 shares during the quarter. Interactive Brokers Group makes up 15.1% of Bares Capital Management Inc.'s portfolio, making the stock its 2nd biggest holding. Bares Capital Management Inc. owned 0.20% of Interactive Brokers Group worth $139,847,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Compound Planning Inc. lifted its holdings in Interactive Brokers Group by 1.1% in the first quarter. Compound Planning Inc. now owns 5,784 shares of the financial services provider's stock valued at $958,000 after acquiring an additional 62 shares during the period. CWM LLC increased its position in Interactive Brokers Group by 6.6% in the first quarter. CWM LLC now owns 1,062 shares of the financial services provider's stock worth $176,000 after buying an additional 66 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Interactive Brokers Group by 0.8% in the first quarter. Crossmark Global Holdings Inc. now owns 8,512 shares of the financial services provider's stock worth $1,410,000 after buying an additional 70 shares in the last quarter. Ritholtz Wealth Management increased its position in Interactive Brokers Group by 4.1% in the first quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider's stock worth $329,000 after buying an additional 79 shares in the last quarter. Finally, Joel Isaacson & Co. LLC increased its position in Interactive Brokers Group by 3.3% in the first quarter. Joel Isaacson & Co. LLC now owns 2,480 shares of the financial services provider's stock worth $411,000 after buying an additional 79 shares in the last quarter. Institutional investors own 23.80% of the company's stock.

Analyst Upgrades and Downgrades

IBKR has been the subject of a number of analyst reports. Citigroup upped their price target on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. The Goldman Sachs Group upped their price target on Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Piper Sandler upped their price target on Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Barclays increased their target price on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.38.

Interactive Brokers Group Stock Down 6.4%

NASDAQ IBKR traded down $4.12 during trading on Friday, hitting $60.16. 11,584,850 shares of the stock traded hands, compared to its average volume of 9,753,378. The company has a market capitalization of $102.04 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.23. The firm has a 50-day simple moving average of $62.19 and a 200-day simple moving average of $52.25. Interactive Brokers Group, Inc. has a 12-month low of $30.01 and a 12-month high of $68.07.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. The business 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%.The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.76 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, September 1st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, August 29th. Interactive Brokers Group's dividend payout ratio (DPR) is currently 16.49%.

Insiders Place Their Bets

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the completion of the transaction, the insider owned 461,500 shares in the company, valued at $31,146,635. This trade represents a 29.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders sold 233,972 shares of company stock worth $15,746,449. Company insiders own 2.97% 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.