Interactive Brokers Group (NASDAQ:IBKR) Downgraded to Hold Rating by Zacks Research

Key Points

• Interactive Brokers Group has been downgraded by Zacks Research from a "strong-buy" to a "hold" rating, reflecting changing views on the stock's performance.
• Despite the downgrade, other analysts such as BMO Capital Markets and Citigroup have issued positive ratings and raised their price objectives, indicating **mixed sentiment** about the stock.
• Insider transactions have been notable, with CFO Paul Jonathan Brody selling over 116,000 shares, reducing his ownership by **42.37%**, raising potential investor concerns.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Thursday,Zacks.com reports.

Several other analysts have also issued reports on the stock. BMO Capital Markets assumed coverage on shares of Interactive Brokers Group in a report on Friday. They issued an "outperform" rating and a $82.00 price objective on the stock. Citigroup boosted their price objective 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 boosted their price objective 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. Piper Sandler boosted their price objective 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. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Interactive Brokers Group in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $64.47.

Interactive Brokers Group Stock Down 0.8%

NASDAQ IBKR opened at $70.36 on Thursday. Interactive Brokers Group has a 52 week low of $32.82 and a 52 week high of $71.78. The business's fifty day simple moving average is $64.33 and its 200-day simple moving average is $54.56. The firm has a market cap of $119.34 billion, a PE ratio of 36.17, a P/E/G ratio of 2.91 and a beta of 1.22.

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

Insider Transactions at Interactive Brokers Group

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

Institutional Investors Weigh In On Interactive Brokers Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jackson Wealth Management LLC purchased a new stake in Interactive Brokers Group in the third quarter valued at approximately $521,000. Aaron Wealth Advisors LLC purchased a new position in Interactive Brokers Group in the third quarter worth $286,000. GAMMA Investing LLC raised its position in Interactive Brokers Group by 12.3% in the third quarter. GAMMA Investing LLC now owns 11,439 shares of the financial services provider's stock worth $787,000 after acquiring an additional 1,256 shares in the last quarter. Capital Asset Advisory Services LLC purchased a new position in Interactive Brokers Group in the third quarter worth $203,000. Finally, Vigilare Wealth Management acquired a new stake in Interactive Brokers Group in the third quarter valued at $301,000. Hedge funds and other institutional investors 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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