Interactive Brokers Group, Inc. (NASDAQ:IBKR) Sees Large Drop in Short Interest

Interactive Brokers Group, Inc. (NASDAQ:IBKR - Get Free Report) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 2,030,000 shares, a drop of 24.5% from the March 15th total of 2,690,000 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 2,270,000 shares, the short-interest ratio is currently 0.9 days.

Analyst Ratings Changes

IBKR has been the subject of several analyst reports. Citigroup lowered their target price on shares of Interactive Brokers Group from $242.00 to $215.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. UBS Group boosted their target price on Interactive Brokers Group from $225.00 to $265.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods increased their price target on Interactive Brokers Group from $190.00 to $195.00 and gave the stock a "market perform" rating in a report on Monday, January 13th. Barclays upped their price objective on Interactive Brokers Group from $188.00 to $193.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Finally, Bank of America reduced their target price on Interactive Brokers Group from $265.00 to $243.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Interactive Brokers Group currently has a consensus rating of "Moderate Buy" and an average price target of $207.88.

Interactive Brokers Group Trading Up 2.7 %

Shares of IBKR traded up $4.24 during midday trading on Wednesday, reaching $161.72. 1,888,431 shares of the stock were exchanged, compared to its average volume of 1,355,390. The company has a market capitalization of $68.34 billion, a P/E ratio of 22.91, a PEG ratio of 1.59 and a beta of 1.02. Interactive Brokers Group has a 52 week low of $103.69 and a 52 week high of $236.53. The company's 50 day moving average is $179.25 and its two-hundred day moving average is $181.54.

Interactive Brokers Group's stock is going to split before the market opens on Wednesday, June 18th. The 4-1 split was announced on Tuesday, April 15th. The newly minted shares will be distributed to shareholders after the market closes on Tuesday, June 17th.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.92 by ($0.04). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.37 billion. Interactive Brokers Group had a net margin of 9.25% and a return on equity of 5.00%. On average, sell-side analysts expect that Interactive Brokers Group will post 7.46 EPS for the current year.

Insider Activity

In related news, Director Jill Bright purchased 135 shares of the firm's stock in a transaction on Friday, January 31st. The shares were acquired at an average price of $219.51 per share, for a total transaction of $29,633.85. Following the purchase, the director now directly owns 2,476 shares in the company, valued at $543,506.76. This trade represents a 5.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.99% of the company's stock.

Hedge Funds Weigh In On Interactive Brokers Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBKR. Contravisory Investment Management Inc. bought a new stake in shares of Interactive Brokers Group in the 4th quarter valued at about $25,000. SRH Advisors LLC acquired a new stake in Interactive Brokers Group in the fourth quarter valued at approximately $28,000. Versant Capital Management Inc grew its holdings in Interactive Brokers Group by 66.4% in the fourth quarter. Versant Capital Management Inc now owns 178 shares of the financial services provider's stock worth $31,000 after purchasing an additional 71 shares during the last quarter. Blue Trust Inc. grew its holdings in Interactive Brokers Group by 90.7% in the fourth quarter. Blue Trust Inc. now owns 185 shares of the financial services provider's stock worth $33,000 after purchasing an additional 88 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd increased its position in shares of Interactive Brokers Group by 39.8% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 186 shares of the financial services provider's stock worth $33,000 after purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company's stock.

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.