Short Interest in Interactive Brokers Group, Inc. (NASDAQ:IBKR) Drops By 12.9%

Interactive Brokers Group, Inc. (NASDAQ:IBKR) saw a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 2,690,000 shares, a drop of 12.9% from the February 28th total of 3,090,000 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 1,970,000 shares, the days-to-cover ratio is presently 1.4 days.

Insider Transactions at Interactive Brokers Group

In other news, Director Jill Bright purchased 135 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of $219.51 per share, with a total value of $29,633.85. Following the acquisition, the director now owns 2,476 shares in the company, valued at approximately $543,506.76. This trade represents a 5.77 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Interactive Brokers Group

A number of institutional investors and hedge funds have recently bought and sold shares of IBKR. JPMorgan Chase & Co. increased its stake in shares of Interactive Brokers Group by 0.3% in the third quarter. JPMorgan Chase & Co. now owns 4,017,082 shares of the financial services provider’s stock valued at $559,821,000 after buying an additional 11,379 shares during the period. Cantillon Capital Management LLC increased its position in Interactive Brokers Group by 0.5% in the 4th quarter. Cantillon Capital Management LLC now owns 3,395,690 shares of the financial services provider’s stock valued at $599,917,000 after acquiring an additional 18,047 shares during the period. State Street Corp raised its stake in shares of Interactive Brokers Group by 1.7% during the third 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 during the last quarter. Bank of America Corp DE lifted its holdings in shares of Interactive Brokers Group by 91.4% during the fourth quarter. Bank of America Corp DE now owns 2,338,972 shares of the financial services provider’s stock worth $413,226,000 after purchasing an additional 1,117,186 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Interactive Brokers Group by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 2,259,032 shares of the financial services provider’s stock worth $399,205,000 after purchasing an additional 193,497 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IBKR shares. The Goldman Sachs Group lifted 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. Barclays boosted their price objective on shares of Interactive Brokers Group from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their target price on shares of Interactive Brokers Group from $190.00 to $195.00 and gave the stock a “market perform” rating in a report on Monday, January 13th. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Interactive Brokers Group in a research note on Wednesday, January 22nd. Finally, Citigroup raised their price objective on Interactive Brokers Group from $180.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Interactive Brokers Group has a consensus rating of “Moderate Buy” and an average target price of $204.13.

Interactive Brokers Group Stock Up 4.5 %

Interactive Brokers Group stock opened at $173.08 on Wednesday. The stock has a market cap of $73.14 billion, a PE ratio of 24.52, a P/E/G ratio of 1.59 and a beta of 0.99. Interactive Brokers Group has a 12-month low of $103.69 and a 12-month high of $236.53. The business’s 50-day moving average price is $201.05 and its two-hundred day moving average price is $179.46.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.22. Interactive Brokers Group had a net margin of 9.25% and a return on equity of 5.00%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the firm posted $1.52 EPS. The firm’s revenue was up 21.8% on a year-over-year basis. As a group, analysts expect that Interactive Brokers Group will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.58%. Interactive Brokers Group’s dividend payout ratio is currently 14.16%.

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.