Interactive Brokers Group, Inc. (NASDAQ:IBKR) Short Interest Up 71.1% in August

Key Points

• The short interest for Interactive Brokers Group, Inc. (NASDAQ:IBKR) rose by 71.1% in August, reaching a total of 17,060,000 shares as of August 31st.
• A number of analysts have upgraded Interactive Brokers' stock ratings, with a consensus rating of "Moderate Buy" and an average price target of $59.38.
• The company reported a quarterly earnings per share of $0.51, surpassing expectations and a revenue of $1.48 billion, which is a 14.7% increase year-over-year.

Interactive Brokers Group, Inc. (NASDAQ:IBKR - Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 17,060,000 shares, an increase of 71.1% from the August 15th total of 9,970,000 shares. Based on an average trading volume of 6,930,000 shares, the days-to-cover ratio is presently 2.5 days. Currently, 1.0% of the company's shares are sold short. Currently, 1.0% of the company's shares are sold short. Based on an average trading volume of 6,930,000 shares, the days-to-cover ratio is presently 2.5 days.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IBKR shares. Wall Street Zen upgraded shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Citigroup lifted their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a report on Monday, July 7th. Barclays lifted their price target on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, Piper Sandler lifted their price target on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $59.38.

Interactive Brokers Group Stock Performance

Shares of NASDAQ:IBKR traded down $1.45 during midday trading on Monday, hitting $62.25. 4,069,208 shares of the company's stock traded hands, compared to its average volume of 10,104,486. The company has a market cap of $105.58 billion, a PE ratio of 32.01, a P/E/G ratio of 2.59 and a beta of 1.23. The firm's fifty day moving average price is $62.82 and its two-hundred day moving average price is $52.62. Interactive Brokers Group has a twelve month low of $32.00 and a twelve month high of $68.07.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The business's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.76 EPS. As a group, equities research analysts anticipate that Interactive Brokers Group will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, September 1st were issued a $0.08 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group's payout ratio is currently 16.49%.

Insider Buying and Selling

In related news, CFO Paul Jonathan Brody sold 97,209 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $64.06, for a total transaction of $6,227,208.54. Following the sale, the chief financial officer owned 577,818 shares in the company, valued at approximately $37,015,021.08. This trade represents a 14.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the sale, the insider owned 461,500 shares in the company, valued at approximately $31,146,635. This trade represents a 29.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 656,154 shares of company stock worth $42,299,977. 2.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Interactive Brokers Group

Institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in Interactive Brokers Group by 50.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 597,176 shares of the financial services provider's stock worth $98,886,000 after buying an additional 199,467 shares in the last quarter. Inspire Investing LLC lifted its holdings in Interactive Brokers Group by 19.5% in the 1st quarter. Inspire Investing LLC now owns 47,341 shares of the financial services provider's stock worth $7,839,000 after buying an additional 7,734 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Interactive Brokers Group by 176.2% in the 1st quarter. Private Advisor Group LLC now owns 4,762 shares of the financial services provider's stock worth $789,000 after buying an additional 3,038 shares in the last quarter. First Hawaiian Bank lifted its holdings in Interactive Brokers Group by 334.1% in the 1st quarter. First Hawaiian Bank now owns 7,557 shares of the financial services provider's stock worth $1,251,000 after buying an additional 5,816 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in Interactive Brokers Group by 271.8% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 15,989 shares of the financial services provider's stock worth $2,648,000 after buying an additional 11,688 shares in the last quarter. Institutional investors and hedge funds own 23.80% of the company's stock.

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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