Marvin & Palmer Associates Inc. Grows Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• Marvin & Palmer Associates Inc. increased its stake in Interactive Brokers (IBKR) by 29.8% in Q3 to 117,225 shares worth $8.25M, making IBKR 7.1% of the firm's portfolio and its 4th-largest holding.
• Insider selling: Vice Chairman Earl H. Nemser sold 145,000 shares on Jan. 23 at $77.85 (part of insiders selling 400,000 shares worth ~$30.7M over 90 days), cutting his position by 48.3%; insiders now own 2.97% of the stock.
• Financials and outlook: IBKR beat the quarter with $0.65 EPS (vs. $0.50 est.) and $1.64B revenue (up 18.5% YoY); analysts rate the stock a "Moderate Buy" with a consensus price target of $76.39.

Marvin & Palmer Associates Inc. lifted its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 29.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,225 shares of the financial services provider's stock after purchasing an additional 26,885 shares during the quarter. Interactive Brokers Group accounts for 7.1% of Marvin & Palmer Associates Inc.'s portfolio, making the stock its 4th largest position. Marvin & Palmer Associates Inc.'s holdings in Interactive Brokers Group were worth $8,248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp bought a new stake in Interactive Brokers Group in the 3rd quarter valued at $27,000. Huntington National Bank lifted its holdings in shares of Interactive Brokers Group by 51.8% during the 2nd quarter. Huntington National Bank now owns 516 shares of the financial services provider's stock worth $29,000 after acquiring an additional 176 shares during the period. LFA Lugano Financial Advisors SA acquired a new stake in shares of Interactive Brokers Group during the 2nd quarter valued at about $32,000. N.E.W. Advisory Services LLC boosted its position in shares of Interactive Brokers Group by 300.0% during the 2nd quarter. N.E.W. Advisory Services LLC now owns 632 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 474 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in Interactive Brokers Group by 1,051.5% in the second quarter. First Horizon Advisors Inc. now owns 760 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 694 shares during the period. 23.80% of the stock is owned by institutional investors.

Insider Activity at Interactive Brokers Group

In related news, Vice Chairman Earl H. Nemser sold 145,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $77.85, for a total transaction of $11,288,250.00. Following the sale, the insider directly owned 155,000 shares in the company, valued at $12,066,750. This represents a 48.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 400,000 shares of company stock valued at $30,725,122. 2.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Interactive Brokers Group in a research report on Monday, December 29th. Barclays set a $83.00 price objective on Interactive Brokers Group and gave the company an "overweight" rating in a report on Wednesday, January 21st. Zacks Research lowered Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Finally, BMO Capital Markets increased their target price on Interactive Brokers Group from $80.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $76.39.

Interactive Brokers Group Stock Performance

IBKR opened at $66.70 on Friday. The firm has a market cap of $113.13 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 1.87 and a beta of 1.23. The firm's 50-day simple moving average is $72.42 and its 200-day simple moving average is $68.17. Interactive Brokers Group, Inc. has a twelve month low of $32.82 and a twelve month high of $79.18.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.15. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. Interactive Brokers Group had a net margin of 9.44% and a return on equity of 5.12%. The firm's quarterly revenue was up 18.5% on a year-over-year basis. During the same period last year, the firm posted $0.51 EPS. As a group, sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.08 dividend. The ex-dividend date is Friday, February 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Interactive Brokers Group's payout ratio is 14.48%.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc NASDAQ: IBKR is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.

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