Kodai Capital Management LP Raises Stake in Interactive Brokers Group, Inc. $IBKR

Key Points

• Kodai Capital Management LP increased its stake in Interactive Brokers Group by 147.2%, owning 109,974 shares valued at approximately $18.21 million after purchasing an additional 65,495 shares.
• Insider sales included Vice Chairman Earl H. Nemser who sold 194,086 shares for over $13 million, indicating a 29.60% decrease in his position.
• Analysts have raised their ratings and price targets for IBKR, with seven research analysts rating it as a Buy and an average price target of $59.38.

Kodai Capital Management LP grew its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 147.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,974 shares of the financial services provider's stock after acquiring an additional 65,495 shares during the period. Kodai Capital Management LP's holdings in Interactive Brokers Group were worth $18,211,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in IBKR. Private Advisor Group LLC boosted its holdings in Interactive Brokers Group by 176.2% during the first quarter. Private Advisor Group LLC now owns 4,762 shares of the financial services provider's stock worth $789,000 after buying an additional 3,038 shares in the last quarter. Kennondale Capital Management LLC boosted its holdings in Interactive Brokers Group by 172.7% during the first quarter. Kennondale Capital Management LLC now owns 19,419 shares of the financial services provider's stock worth $3,216,000 after buying an additional 12,299 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in Interactive Brokers Group by 33.5% during the first quarter. Bayforest Capital Ltd now owns 3,873 shares of the financial services provider's stock worth $641,000 after buying an additional 971 shares in the last quarter. National Pension Service purchased a new stake in Interactive Brokers Group during the first quarter worth $28,688,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Interactive Brokers Group by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 844,793 shares of the financial services provider's stock worth $139,889,000 after buying an additional 26,595 shares in the last quarter. 23.80% of the stock is owned by hedge funds and other institutional investors.

Interactive Brokers Group Stock Up 2.7%

IBKR stock traded up $1.66 during mid-day trading on Tuesday, hitting $63.90. 7,333,825 shares of the company were exchanged, compared to its average volume of 7,625,560. The firm has a market capitalization of $108.38 billion, a P/E ratio of 32.85, a PEG ratio of 2.54 and a beta of 1.23. The business has a fifty day simple moving average of $61.37 and a 200-day simple moving average of $52.03. 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 announced its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. Interactive Brokers Group's revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.76 earnings per share. Research analysts predict that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Dividend Announcement

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

Insider Activity at Interactive Brokers Group

In other 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 shares were sold at an average price of $67.49, for a total value of $13,098,864.14. Following the completion of the transaction, the insider owned 461,500 shares of the company's stock, valued at approximately $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 233,972 shares of company stock valued at $15,746,449 over the last ninety days. Company insiders own 2.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. The Goldman Sachs Group increased their price objective on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Barclays increased their price objective on shares of 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 shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a report on Monday, July 7th. Finally, Wall Street Zen raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock 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.