Interactive Brokers Group (NASDAQ:IBKR) Stock Rating Cut to “Hold” at Zacks Research

Interactive Brokers Group (NASDAQ:IBKR) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks reports.

A number of other equities research analysts have also recently weighed in on IBKR. Wolfe Research initiated coverage on Interactive Brokers Group in a research note on Monday, June 8th. They issued an “outperform” rating and a $101.00 price objective for the company. Weiss Ratings upgraded shares of Interactive Brokers Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Piper Sandler set a $109.00 price objective on Interactive Brokers Group in a research report on Wednesday, July 22nd. Barclays set a $114.00 price objective on Interactive Brokers Group and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Finally, Raymond James Financial started coverage on Interactive Brokers Group in a report on Wednesday, August 26th. They issued a “market perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.90.

Interactive Brokers Group Stock Performance

Shares of Interactive Brokers Group stock opened at $89.24 on Thursday. Interactive Brokers Group has a fifty-two week low of $58.95 and a fifty-two week high of $98.75. The firm has a market capitalization of $151.83 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 1.66 and a beta of 1.35. The stock has a 50 day moving average of $91.27 and a 200 day moving average of $85.07.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.80 billion. Interactive Brokers Group had a return on equity of 5.37% and a net margin of 9.94%.The company’s quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 EPS. Analysts forecast that Interactive Brokers Group will post 2.68 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. QRG Capital Management Inc. grew its holdings in shares of Interactive Brokers Group by 13.4% during the second quarter. QRG Capital Management Inc. now owns 100,705 shares of the financial services provider’s stock worth $8,765,000 after purchasing an additional 11,906 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Interactive Brokers Group by 35.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 31,052 shares of the financial services provider’s stock valued at $2,703,000 after purchasing an additional 8,123 shares during the period. Security National Bank of SO Dak acquired a new stake in shares of Interactive Brokers Group in the 2nd quarter valued at about $94,000. Sequoia Financial Advisors LLC grew its stake in Interactive Brokers Group by 38.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,304 shares of the financial services provider’s stock worth $1,245,000 after buying an additional 3,966 shares during the last quarter. Finally, Tidal Investments LLC increased its position in Interactive Brokers Group by 2.9% during the second quarter. Tidal Investments LLC now owns 71,292 shares of the financial services provider’s stock worth $6,205,000 after buying an additional 1,977 shares during the period. Institutional investors and hedge funds own 23.80% of the company’s stock.

About Interactive Brokers Group

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and related financial services to individual investors, financial professionals, hedge funds, proprietary trading groups and other institutional clients. Through its online platforms, the company offers access to stocks, options, futures, foreign exchange, bonds, mutual funds, exchange-traded funds and other investment products.

The company operates a technology-focused brokerage platform designed to provide access to multiple markets and asset classes from a single account.