SkyView Investment Advisors LLC Trims Stake in Interactive Brokers Group, Inc. $IBKR

Key Points

• SkyView Investment Advisors cut its Interactive Brokers stake by 87.3% in the second quarter, selling 110,074 shares and retaining 16,000 shares valued at $1.39 million.
• Analyst sentiment remains positive overall, with IBKR carrying a consensus “Moderate Buy” rating and an average price target of $98.90, despite UBS downgrading the stock to “neutral.”
• Interactive Brokers exceeded quarterly expectations, reporting $0.69 in earnings per share versus $0.64 expected and $1.88 billion in revenue, up 28.1% year over year; shares recently traded near $90.75.

SkyView Investment Advisors LLC lowered its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 87.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,000 shares of the financial services provider's stock after selling 110,074 shares during the period. Interactive Brokers Group makes up approximately 1.1% of SkyView Investment Advisors LLC's investment portfolio, making the stock its 27th biggest holding. SkyView Investment Advisors LLC's holdings in Interactive Brokers Group were worth $1,393,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sequoia Financial Advisors LLC raised its holdings in shares of Interactive Brokers Group by 38.4% in the second quarter. Sequoia Financial Advisors LLC now owns 14,304 shares of the financial services provider's stock worth $1,245,000 after buying an additional 3,966 shares during the period. Tidal Investments LLC grew its position in Interactive Brokers Group by 2.9% in the 2nd quarter. Tidal Investments LLC now owns 71,292 shares of the financial services provider's stock valued at $6,205,000 after acquiring an additional 1,977 shares during the last quarter. Engineers Gate Manager LP grew its position in Interactive Brokers Group by 831.3% in the 2nd quarter. Engineers Gate Manager LP now owns 108,359 shares of the financial services provider's stock valued at $9,432,000 after acquiring an additional 96,724 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in Interactive Brokers Group by 9.2% in the second quarter. Integrated Wealth Concepts LLC now owns 14,833 shares of the financial services provider's stock worth $1,291,000 after purchasing an additional 1,249 shares during the period. Finally, NewEdge Advisors LLC lifted its position in shares of Interactive Brokers Group by 40.4% during the second quarter. NewEdge Advisors LLC now owns 21,042 shares of the financial services provider's stock worth $1,831,000 after purchasing an additional 6,058 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company's stock.

Analyst Ratings Changes

IBKR has been the topic of a number of research analyst reports. UBS Group cut shares of Interactive Brokers Group from a "buy" rating to a "neutral" rating and upped their price target for the stock from $50.00 to $102.00 in a report on Tuesday, September 1st. Weiss Ratings raised shares of Interactive Brokers Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Zacks Research upgraded shares of Interactive Brokers Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. Piper Sandler set a $109.00 target price on shares of Interactive Brokers Group in a research report on Wednesday, July 22nd. Finally, Raymond James Financial started coverage on shares of Interactive Brokers Group in a research note on Wednesday, August 26th. They set a "market perform" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $98.90.

Interactive Brokers Group Trading Down 0.7%

Shares of Interactive Brokers Group stock opened at $90.75 on Tuesday. The firm has a market cap of $154.40 billion, a P/E ratio of 36.30, a P/E/G ratio of 1.69 and a beta of 1.35. Interactive Brokers Group, Inc. has a 12 month low of $58.95 and a 12 month high of $98.75. The stock's fifty day moving average price is $92.00 and its 200-day moving average price is $83.94.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. Interactive Brokers Group had a net margin of 9.94% and a return on equity of 5.37%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. The firm's revenue for the quarter was up 28.1% compared to the same quarter last year. Analysts forecast that Interactive Brokers Group, Inc. will post 2.68 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

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

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and related financial services to individual investors, financial professionals, hedge funds, proprietary trading groups and other institutional clients. Through its online platforms, the company offers access to stocks, options, futures, foreign exchange, bonds, mutual funds, exchange-traded funds and other investment products.

The company operates a technology-focused brokerage platform designed to provide access to multiple markets and asset classes from a single account.

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