Interactive Brokers Group (NASDAQ:IBKR) Shares Gap Down After Earnings Miss

Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $152.98, but opened at $148.23. Interactive Brokers Group shares last traded at $148.73, with a volume of 1,041,754 shares.

The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.03). Interactive Brokers Group had a return on equity of 4.88% and a net margin of 7.88%. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the firm earned $1.55 EPS.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Jefferies Financial Group upped their price objective on Interactive Brokers Group from $152.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Piper Sandler reissued an “overweight” rating and issued a $163.00 target price on shares of Interactive Brokers Group in a research report on Wednesday. UBS Group raised their price target on shares of Interactive Brokers Group from $155.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Barclays boosted their price objective on shares of Interactive Brokers Group from $147.00 to $166.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Keefe, Bruyette & Woods downgraded shares of Interactive Brokers Group from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $128.00 to $135.00 in a research report on Thursday, July 11th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Interactive Brokers Group currently has an average rating of “Moderate Buy” and an average price target of $143.11.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. raised its holdings in Interactive Brokers Group by 6.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 10,598 shares of the financial services provider’s stock worth $1,477,000 after purchasing an additional 610 shares during the period. Sumitomo Life Insurance Co. bought a new position in shares of Interactive Brokers Group in the third quarter worth about $774,000. Creative Planning raised its stake in shares of Interactive Brokers Group by 5.5% in the third quarter. Creative Planning now owns 8,196 shares of the financial services provider’s stock worth $1,142,000 after buying an additional 428 shares during the period. Inspire Investing LLC grew its stake in shares of Interactive Brokers Group by 5.0% during the 3rd quarter. Inspire Investing LLC now owns 45,587 shares of the financial services provider’s stock valued at $6,353,000 after acquiring an additional 2,188 shares during the period. Finally, Ritholtz Wealth Management purchased a new stake in Interactive Brokers Group in the 3rd quarter worth approximately $263,000. 23.80% of the stock is currently owned by institutional investors.

Interactive Brokers Group Trading Down 2.6 %

The company has a market cap of $62.72 billion, a P/E ratio of 25.42, a PEG ratio of 1.34 and a beta of 0.80. The business’s 50 day simple moving average is $130.77 and its 200 day simple moving average is $123.74.

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.