Interactive Brokers Group (NASDAQ:IBKR) Shares Gap Up After Strong Earnings

Interactive Brokers Group, Inc. (NASDAQ:IBKR) shares gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $192.83, but opened at $207.00. Interactive Brokers Group shares last traded at $203.70, with a volume of 525,031 shares traded.

The financial services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.22. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1,372,590.34 billion. Interactive Brokers Group had a return on equity of 4.83% and a net margin of 7.89%. Interactive Brokers Group’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.52 EPS.

Analysts Set New Price Targets

IBKR has been the subject of several research reports. Jefferies Financial Group raised their price objective on shares of Interactive Brokers Group from $152.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, October 4th. The Goldman Sachs Group boosted their target price on Interactive Brokers Group from $171.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their price objective on Interactive Brokers Group from $190.00 to $195.00 and gave the stock a “market perform” rating in a research note on Monday, January 13th. Barclays upped their target price on shares of Interactive Brokers Group from $224.00 to $231.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Citigroup lifted their price objective on Interactive Brokers Group from $180.00 to $220.00 and gave the company a “buy” rating in a report on Friday, January 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.00.

Institutional Investors Weigh In On Interactive Brokers Group

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in shares of Interactive Brokers Group by 0.3% during the third quarter. JPMorgan Chase & Co. now owns 4,017,082 shares of the financial services provider’s stock worth $559,821,000 after buying an additional 11,379 shares during the last quarter. State Street Corp boosted its holdings in shares of Interactive Brokers Group by 1.7% during the 3rd quarter. State Street Corp now owns 3,222,135 shares of the financial services provider’s stock valued at $449,037,000 after acquiring an additional 52,911 shares in the last quarter. Marshall Wace LLP grew its position in Interactive Brokers Group by 23.8% during the 2nd quarter. Marshall Wace LLP now owns 2,507,059 shares of the financial services provider’s stock worth $307,365,000 after acquiring an additional 481,826 shares during the last quarter. Geode Capital Management LLC increased its holdings in Interactive Brokers Group by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,065,535 shares of the financial services provider’s stock worth $287,921,000 after purchasing an additional 106,392 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Interactive Brokers Group by 12.2% during the third quarter. FMR LLC now owns 1,094,598 shares of the financial services provider’s stock worth $152,543,000 after purchasing an additional 119,187 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.

Interactive Brokers Group Stock Performance

The stock has a market capitalization of $87.54 billion, a P/E ratio of 31.63, a price-to-earnings-growth ratio of 1.38 and a beta of 0.87. The stock’s fifty day simple moving average is $184.08 and its two-hundred day simple moving average is $151.45.

Interactive Brokers Group Company Profile

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.