Rovida Investment Management Ltd Sells 15,000 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Key Points

• Rovida Investment Management Ltd reduced its stake in Interactive Brokers Group by 15.0% during the 1st quarter, now holding 85,000 shares, which is 4.4% of its total holdings.
• Interactive Brokers Group reported earnings of $0.51 per share for the last quarter, exceeding estimates, with revenue of $1.48 billion, a 14.7% increase compared to the previous year.
• The company declared a quarterly dividend of $0.08 per share, with a record date of September 1st, representing an annual yield of 0.5%.

Rovida Investment Management Ltd trimmed its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 15.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,000 shares of the financial services provider's stock after selling 15,000 shares during the period. Interactive Brokers Group accounts for about 4.4% of Rovida Investment Management Ltd's portfolio, making the stock its 5th biggest holding. Rovida Investment Management Ltd's holdings in Interactive Brokers Group were worth $14,075,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IBKR. Franklin Resources Inc. lifted its position in shares of Interactive Brokers Group by 512.5% in the fourth quarter. Franklin Resources Inc. now owns 8,556 shares of the financial services provider's stock valued at $1,512,000 after buying an additional 7,159 shares during the last quarter. FMR LLC lifted its holdings in Interactive Brokers Group by 17.1% during the 4th quarter. FMR LLC now owns 1,281,882 shares of the financial services provider's stock worth $226,470,000 after purchasing an additional 187,284 shares during the last quarter. Invesco Ltd. lifted its holdings in Interactive Brokers Group by 39.0% during the 4th quarter. Invesco Ltd. now owns 765,959 shares of the financial services provider's stock worth $135,322,000 after purchasing an additional 214,844 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Interactive Brokers Group by 0.5% during the 4th quarter. Bessemer Group Inc. now owns 24,838 shares of the financial services provider's stock worth $4,388,000 after purchasing an additional 114 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in Interactive Brokers Group by 0.5% during the 4th quarter. Treasurer of the State of North Carolina now owns 47,650 shares of the financial services provider's stock worth $8,418,000 after purchasing an additional 220 shares during the last quarter. 23.80% of the stock is owned by institutional investors and hedge funds.

Interactive Brokers Group Stock Down 6.1%

Shares of IBKR traded down $4.14 during midday trading on Wednesday, hitting $63.49. The company's stock had a trading volume of 9,285,735 shares, compared to its average volume of 7,199,826. Interactive Brokers Group, Inc. has a one year low of $29.41 and a one year high of $68.07. The company's fifty day simple moving average is $58.25 and its two-hundred day simple moving average is $51.37. The stock has a market capitalization of $107.33 billion, a price-to-earnings ratio of 32.64, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22.

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

Interactive Brokers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, September 1st will be paid a $0.08 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Interactive Brokers Group's dividend payout ratio (DPR) is presently 16.49%.

Insider Activity

In related news, Vice Chairman Earl H. Nemser sold 39,786 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $66.38, for a total transaction of $2,640,994.68. Following the sale, the insider owned 360,114 shares of the company's stock, valued at $23,904,367.32. This trade represents a 9.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.97% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup lifted their price target on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Barclays lifted their price target on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Piper Sandler lifted their price target on Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Wall Street Zen raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Finally, The Goldman Sachs Group lifted their price target on Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.38.

Interactive Brokers Group Company 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.