Studio Investment Management LLC Grows Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• Studio Investment Management LLC increased its stake in Interactive Brokers Group by 289.7% in Q2, upgrading its holdings to 11,332 shares valued at approximately $628,000.
• Insider transactions revealed that Vice Chairman Earl H. Nemser and CFO Paul Jonathan Brody sold significant portions of their stock, with Nemser decreasing his position by 29.60% and Brody by 42.37%.
• Interactive Brokers Group reported its earnings showing a 21.2% increase in revenue year-over-year and an EPS of $0.57, exceeding analysts' expectations.

Studio Investment Management LLC lifted its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 289.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,332 shares of the financial services provider's stock after buying an additional 8,424 shares during the quarter. Studio Investment Management LLC's holdings in Interactive Brokers Group were worth $628,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new stake in shares of Interactive Brokers Group in the 1st quarter worth about $26,000. Nvwm LLC bought a new position in Interactive Brokers Group in the 1st quarter worth about $33,000. ASR Vermogensbeheer N.V. bought a new position in Interactive Brokers Group in the 1st quarter worth about $33,000. North Capital Inc. bought a new position in Interactive Brokers Group in the 1st quarter worth about $49,000. Finally, Quarry LP boosted its stake in Interactive Brokers Group by 486.3% in the 1st quarter. Quarry LP now owns 299 shares of the financial services provider's stock worth $50,000 after purchasing an additional 248 shares in the last quarter. 23.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the 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 transaction, the insider owned 461,500 shares in the company, valued at $31,146,635. This represents a 29.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul Jonathan Brody sold 116,861 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the sale, the chief financial officer directly owned 158,954 shares of the company's stock, valued at approximately $10,289,092.42. This trade represents a 42.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,205,683 shares of company stock worth $77,217,965 in the last quarter. Company insiders own 2.97% of the company's stock.

Interactive Brokers Group Stock Performance

IBKR opened at $66.27 on Wednesday. The stock has a market capitalization of $112.40 billion, a P/E ratio of 31.82, a P/E/G ratio of 2.09 and a beta of 1.22. The company's 50-day simple moving average is $65.29 and its two-hundred day simple moving average is $56.86. Interactive Brokers Group, Inc. has a 52-week low of $32.82 and a 52-week high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.08. The business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.47 billion. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.03%. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.61 EPS. Research analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, December 1st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, December 1st. Interactive Brokers Group's dividend payout ratio is 15.38%.

Wall Street Analyst Weigh In

IBKR has been the topic of a number of analyst reports. Zacks Research cut shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 2nd. BMO Capital Markets upped their price target on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the stock an "outperform" rating in a research note on Friday, October 17th. Barclays set a $80.00 price target on shares of Interactive Brokers Group and gave the stock an "overweight" rating in a research note on Friday. Piper Sandler set a $80.00 price target on shares of Interactive Brokers Group and gave the stock an "overweight" rating in a research note on Tuesday, October 14th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $91.00 price target on shares of Interactive Brokers Group in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.34.

About Interactive Brokers Group

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.

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