Monetta Financial Services Inc. Acquires Shares of 20,000 Interactive Brokers Group, Inc. $IBKR

Key Points

• Monetta Financial Services acquired 20,000 Interactive Brokers Group shares worth approximately $1.74 million, making IBKR about 1.2% of its portfolio.
• Interactive Brokers reported quarterly EPS of $0.69, beating estimates by $0.05, while revenue rose 28.1% year over year to $1.88 billion.
• IBKR shares opened at $90.54, and analysts maintained a “Moderate Buy” consensus with an average price target of $96.89. The company also announced a quarterly dividend of $0.0875 per share.

Monetta Financial Services Inc. bought a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,000 shares of the financial services provider's stock, valued at approximately $1,741,000. Interactive Brokers Group comprises approximately 1.2% of Monetta Financial Services Inc.'s investment portfolio, making the stock its 24th largest position.

A number of other large investors have also recently modified their holdings of the business. Reflection Asset Management acquired a new position in shares of Interactive Brokers Group during the 4th quarter worth $26,000. IMA Advisory Services Inc. lifted its position in shares of Interactive Brokers Group by 64.3% during the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider's stock worth $29,000 after buying an additional 178 shares during the last quarter. Tobam acquired a new stake in Interactive Brokers Group in the fourth quarter valued at about $30,000. Entrust Financial LLC acquired a new stake in Interactive Brokers Group in the fourth quarter valued at about $31,000. Finally, SHP Wealth Management bought a new position in Interactive Brokers Group in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 23.80% of the company's stock.

Interactive Brokers Group Stock Down 0.0%

Shares of IBKR stock opened at $90.54 on Thursday. Interactive Brokers Group, Inc. has a twelve month low of $58.95 and a twelve month high of $97.84. The stock's fifty day simple moving average is $91.87 and its 200 day simple moving average is $81.58. The firm has a market capitalization of $154.05 billion, a P/E ratio of 36.22, a P/E/G ratio of 1.67 and a beta of 1.34.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. Interactive Brokers Group had a return on equity of 5.37% and a net margin of 9.94%.The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $0.51 earnings per share. The business's quarterly revenue was up 28.1% on a year-over-year basis. As a group, equities research analysts expect that Interactive Brokers Group, Inc. will post 2.69 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, September 1st will be paid a $0.0875 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.35 annualized dividend and a dividend yield of 0.4%. Interactive Brokers Group's dividend payout ratio is currently 14.00%.

Analyst Ratings Changes

Several brokerages have commented on IBKR. Zacks Research raised Interactive Brokers Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. China Renaissance started coverage on shares of Interactive Brokers Group in a research note on Tuesday, July 7th. They issued a "hold" rating on the stock. Piper Sandler set a $109.00 price target on shares of Interactive Brokers Group in a report on Wednesday, July 22nd. The Goldman Sachs Group set a $98.00 price objective on shares of Interactive Brokers Group in a research report on Friday, May 1st. Finally, Bank of America increased their price objective on shares of Interactive Brokers Group from $83.00 to $106.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.89.

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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