Boyar Asset Management Inc. Takes Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• Boyar Asset Management Inc. has acquired a new stake in Interactive Brokers Group, purchasing 4,884 shares valued at approximately $271,000 in Q2.
• Insider trading revealed that CFO Paul Jonathan Brody sold 17,058 shares for over $1.1 million, reducing his ownership by 37.62%.
• Interactive Brokers reported a net margin of 9.78% and a revenue increase of 14.7% year-over-year, with quarterly earnings of $0.51 per share, surpassing analysts' expectations.

Boyar Asset Management Inc. acquired a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,884 shares of the financial services provider's stock, valued at approximately $271,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. N.E.W. Advisory Services LLC bought a new position in shares of Interactive Brokers Group during the first quarter valued at about $26,000. City Holding Co. bought a new position in shares of Interactive Brokers Group during the first quarter valued at about $33,000. Nvwm LLC bought a new position in shares of Interactive Brokers Group during the first quarter valued at about $33,000. ASR Vermogensbeheer N.V. bought a new position in shares of Interactive Brokers Group during the first quarter valued at about $33,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of Interactive Brokers Group during the first quarter valued at about $43,000. 23.80% of the stock is owned by institutional investors.

Insider Activity at Interactive Brokers Group

In other news, CFO Paul Jonathan Brody sold 17,058 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $65.78, for a total transaction of $1,122,075.24. Following the sale, the chief financial officer owned 28,289 shares in the company, valued at $1,860,850.42. This represents a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 1,205,683 shares of company stock worth $77,217,965 in the last 90 days. Corporate insiders own 2.97% of the company's stock.

Interactive Brokers Group Stock Performance

Shares of IBKR opened at $70.36 on Friday. The stock has a market cap of $119.34 billion, a PE ratio of 36.17, a price-to-earnings-growth ratio of 2.91 and a beta of 1.22. Interactive Brokers Group, Inc. has a fifty-two week low of $32.82 and a fifty-two week high of $71.78. The firm's 50-day simple moving average is $64.33 and its two-hundred day simple moving average is $54.56.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The business's revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.76 earnings per share. Equities research analysts predict that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, September 1st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, August 29th. Interactive Brokers Group's dividend payout ratio is 16.49%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IBKR. Wall Street Zen raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. BMO Capital Markets assumed coverage on shares of Interactive Brokers Group in a research report on Friday. They set an "outperform" rating and a $82.00 price target on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Interactive Brokers Group in a research report on Saturday, September 27th. Barclays boosted their price target on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Finally, Citigroup boosted their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Interactive Brokers Group currently has an average rating of "Moderate Buy" and a consensus price target of $64.47.

Interactive Brokers Group Profile

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.

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