TimesSquare Capital Management LLC Purchases 104,450 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

TimesSquare Capital Management LLC raised its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 36.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 392,250 shares of the financial services provider's stock after purchasing an additional 104,450 shares during the period. TimesSquare Capital Management LLC owned 0.09% of Interactive Brokers Group worth $64,953,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Proficio Capital Partners LLC bought a new stake in shares of Interactive Brokers Group during the 4th quarter valued at $7,288,000. PNC Financial Services Group Inc. raised its stake in shares of Interactive Brokers Group by 7.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,517 shares of the financial services provider's stock worth $1,681,000 after acquiring an additional 678 shares in the last quarter. Independent Advisor Alliance bought a new position in shares of Interactive Brokers Group during the 4th quarter worth approximately $261,000. Farther Finance Advisors LLC grew its position in Interactive Brokers Group by 27.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,034 shares of the financial services provider's stock worth $183,000 after purchasing an additional 224 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Interactive Brokers Group by 8.4% in the 4th quarter. Swiss National Bank now owns 215,400 shares of the financial services provider's stock valued at $38,055,000 after acquiring an additional 16,700 shares during the last quarter. Institutional investors own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Bank of America decreased their price objective on shares of Interactive Brokers Group from $66.25 to $60.75 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Citigroup raised their price objective on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research note on Monday, July 7th. The Goldman Sachs Group raised their price objective on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Piper Sandler lifted their price target on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Barclays reiterated an "overweight" rating and issued a $65.00 price target on shares of Interactive Brokers Group in a research note on Thursday, July 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $58.38.

Interactive Brokers Group Stock Performance

Shares of IBKR stock traded up $3.67 during mid-day trading on Friday, reaching $63.10. 7,336,821 shares of the company were exchanged, compared to its average volume of 5,817,548. The company has a market capitalization of $106.66 billion, a P/E ratio of 34.22, a P/E/G ratio of 2.70 and a beta of 1.25. The business's 50 day simple moving average is $53.49 and its 200 day simple moving average is $49.23. Interactive Brokers Group, Inc. has a fifty-two week low of $25.92 and a fifty-two week high of $65.44.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.05. Interactive Brokers Group had a net margin of 9.53% and a return on equity of 4.97%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same period in the previous year, the business earned $1.76 earnings per share. The company's revenue was up 14.7% on a year-over-year basis. On average, analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group 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.