Interactive Brokers Group Inc. (NASDAQ:IBKR)’s share price dropped 6.2% during trading on Wednesday . The stock traded as low as $34.30 and last traded at $35.00, with a volume of 1,329,726 shares changing hands. The stock had previously closed at $37.30.

IBKR has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Interactive Brokers Group from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Friday, April 8th. TheStreet upgraded shares of Interactive Brokers Group from a “hold” rating to a “buy” rating in a research report on Tuesday, April 19th. SunTrust Banks Inc. initiated coverage on shares of Interactive Brokers Group in a research report on Tuesday, March 22nd. They issued a “neutral” rating and a $40.00 target price for the company. Finally, Buckingham Research initiated coverage on shares of Interactive Brokers Group in a research report on Thursday, May 12th. They set a “neutral” rating and a $38.00 price objective for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $40.58.

The company has a market capitalization of $2.22 billion and a price-to-earnings ratio of 23.53. The stock has a 50-day moving average price of $37.02 and a 200-day moving average price of $36.67.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Tuesday, July 19th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The firm earned $369 million during the quarter, compared to analysts’ expectations of $373.43 million. On average, equities analysts anticipate that Interactive Brokers Group Inc. will post $1.63 earnings per share for the current year.

In related news, Vice Chairman Earl H. Nemser sold 4,000 shares of Interactive Brokers Group stock in a transaction on Friday, April 22nd. The shares were sold at an average price of $40.21, for a total value of $160,840.00. Following the transaction, the insider now directly owns 98,803 shares of the company’s stock, valued at $3,972,868.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

A number of hedge funds recently added to or reduced their stakes in the stock. State of Tennessee Treasury Department bought a new stake in Interactive Brokers Group during the fourth quarter valued at $1,953,000. Rhumbline Advisers boosted its stake in Interactive Brokers Group by 3.3% in the fourth quarter. Rhumbline Advisers now owns 48,739 shares of the company’s stock valued at $2,125,000 after buying an additional 1,566 shares during the period. Comerica Bank boosted its stake in Interactive Brokers Group by 1.4% in the fourth quarter. Comerica Bank now owns 59,076 shares of the company’s stock valued at $2,201,000 after buying an additional 823 shares during the period. Suntrust Banks Inc. bought a new stake in Interactive Brokers Group during the fourth quarter valued at $2,231,000. Finally, Russell Frank Co boosted its stake in Interactive Brokers Group by 35.5% in the fourth quarter. Russell Frank Co now owns 62,347 shares of the company’s stock valued at $2,723,000 after buying an additional 16,320 shares during the period.

Interactive Brokers Group, Inc (IBG, Inc) is a holding company. The Company is an automated global electronic broker and market maker specializing in routing orders, and executing and processing trades in securities, futures, foreign exchange instruments, bonds and mutual funds on more than 100 electronic exchanges and trading venues around the world.

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