Magnetar Financial LLC Buys Shares of 34,504 Interactive Brokers Group, Inc. $IBKR

Key Points

• Magnetar Financial LLC has acquired a new position in Interactive Brokers Group, purchasing 34,504 shares valued at approximately $5.71 million during the first quarter.
• Vice Chairman Earl H. Nemser sold 194,086 shares of the stock recently, resulting in a 29.60% decrease of his position, while insiders collectively sold 233,972 shares over the past three months.
• Several analysts have raised their price targets for Interactive Brokers Group, with Goldman Sachs setting a new target at $60.00, indicating a general sentiment of a "Moderate Buy" for the stock.

Magnetar Financial LLC purchased a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 34,504 shares of the financial services provider's stock, valued at approximately $5,714,000.

A number of other hedge funds also recently bought and sold shares of IBKR. American Century Companies Inc. raised its position in Interactive Brokers Group by 1,476.3% in the 1st quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider's stock valued at $237,453,000 after purchasing an additional 1,343,007 shares in the last quarter. Bank of America Corp DE raised its position in Interactive Brokers Group by 91.4% in the 4th quarter. Bank of America Corp DE now owns 2,338,972 shares of the financial services provider's stock valued at $413,226,000 after purchasing an additional 1,117,186 shares in the last quarter. GAMMA Investing LLC raised its position in Interactive Brokers Group by 22,211.1% in the 1st quarter. GAMMA Investing LLC now owns 423,910 shares of the financial services provider's stock valued at $701,950,000 after purchasing an additional 422,010 shares in the last quarter. Fullerton Fund Management Co Ltd. acquired a new stake in Interactive Brokers Group in the 4th quarter valued at about $69,057,000. Finally, Two Sigma Advisers LP raised its position in Interactive Brokers Group by 456.0% in the 4th quarter. Two Sigma Advisers LP now owns 465,900 shares of the financial services provider's stock valued at $82,311,000 after purchasing an additional 382,100 shares in the last quarter. Institutional investors and hedge funds own 23.80% of the company's stock.

Insider Buying and Selling at Interactive Brokers Group

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 194,086 shares of Interactive Brokers Group stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total value of $13,098,864.14. Following the transaction, the insider directly owned 461,500 shares in the company, valued at approximately $31,146,635. This trade represents a 29.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 233,972 shares of company stock valued at $15,746,449. Company insiders own 2.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group increased their price target on Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Citigroup increased their price target on Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Piper Sandler raised their target price 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 raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Barclays raised 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 analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $59.38.

Interactive Brokers Group Price Performance

Shares of NASDAQ IBKR traded up $0.52 during midday trading on Thursday, hitting $64.47. 1,686,691 shares of the company's stock were exchanged, compared to its average volume of 7,578,838. Interactive Brokers Group, Inc. has a twelve month low of $30.01 and a twelve month high of $68.07. The company has a market cap of $109.35 billion, a PE ratio of 33.14, a P/E/G ratio of 2.54 and a beta of 1.23. The firm's fifty day simple moving average is $61.85 and its 200-day simple moving average is $52.20.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.76 EPS. Equities analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, September 1st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis 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%.

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.