Interactive Brokers Group (NASDAQ:IBKR) Shares Gap Up on Earnings Beat

Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Get Free Report) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $59.43, but opened at $63.81. Interactive Brokers Group shares last traded at $64.20, with a volume of 3,100,299 shares trading hands.

The financial services provider reported $0.51 earnings per share for the quarter, topping 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 company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the firm earned $1.76 earnings per share. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several analysts have commented on IBKR shares. Citigroup increased their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research report on Monday, July 7th. The Goldman Sachs Group increased their price target on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Barclays reaffirmed an "overweight" rating and issued a $65.00 price objective on shares of Interactive Brokers Group in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Bank of America dropped 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 research note on Wednesday, April 16th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.38.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Interactive Brokers Group by 151.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 261 shares of the financial services provider's stock worth $48,000 after purchasing an additional 157 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Interactive Brokers Group by 6.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 17,008 shares of the financial services provider's stock worth $3,005,000 after purchasing an additional 990 shares during the last quarter. Rovida Investment Management Ltd acquired a new stake in shares of Interactive Brokers Group during the 4th quarter worth about $17,652,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Interactive Brokers Group during the 4th quarter worth about $242,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Interactive Brokers Group during the 4th quarter worth about $10,888,000. Hedge funds and other institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Stock Performance

The business has a 50-day moving average of $53.49 and a 200-day moving average of $49.23. The stock has a market capitalization of $108.74 billion, a price-to-earnings ratio of 34.82, a P/E/G ratio of 2.70 and a beta of 1.25.

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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