Freedom Day Solutions LLC Acquires 43,143 Shares of Interactive Brokers Group, Inc. $IBKR

Freedom Day Solutions LLC lifted its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 294.4% during the 2nd quarter, Holdings Channel reports. The firm owned 57,797 shares of the financial services provider’s stock after purchasing an additional 43,143 shares during the period. Interactive Brokers Group makes up 0.8% of Freedom Day Solutions LLC’s holdings, making the stock its 24th largest holding. Freedom Day Solutions LLC’s holdings in Interactive Brokers Group were worth $3,203,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in IBKR. N.E.W. Advisory Services LLC bought a new position in Interactive Brokers Group in the first quarter valued at approximately $26,000. ORG Partners LLC increased its stake in Interactive Brokers Group by 312.9% in the second quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 363 shares during the last quarter. Contravisory Investment Management Inc. increased its stake in Interactive Brokers Group by 300.0% in the second quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 423 shares during the last quarter. Nvwm LLC bought a new position in Interactive Brokers Group in the first quarter valued at approximately $33,000. Finally, ASR Vermogensbeheer N.V. bought a new position in Interactive Brokers Group in the first quarter valued at approximately $33,000. 23.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IBKR has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Barclays reissued an “overweight” rating and issued a $81.00 price objective (up from $73.00) on shares of Interactive Brokers Group in a research note on Wednesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Interactive Brokers Group in a research note on Saturday, September 27th. BMO Capital Markets started coverage on shares of Interactive Brokers Group in a research note on Friday, October 3rd. They issued an “outperform” rating and a $82.00 price objective on the stock. Finally, Piper Sandler raised their target price on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.47.

Interactive Brokers Group Stock Performance

Shares of IBKR opened at $72.62 on Friday. Interactive Brokers Group, Inc. has a 52 week low of $32.82 and a 52 week high of $72.71. The stock has a market capitalization of $123.17 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.96 and a beta of 1.22. The stock has a fifty day moving average of $64.76 and a 200-day moving average of $55.30.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the company earned $1.76 EPS. Interactive Brokers Group’s revenue was up 14.7% compared to the same quarter last year. As a group, equities analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, September 1st were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, August 29th. Interactive Brokers Group’s payout ratio is 16.49%.

Insiders Place Their Bets

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of Interactive Brokers Group stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the transaction, the insider owned 461,500 shares in the company, valued at approximately $31,146,635. The trade was a 29.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Paul Jonathan Brody sold 116,861 shares of Interactive Brokers Group stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the transaction, the chief financial officer owned 158,954 shares in the company, valued at approximately $10,289,092.42. This trade represents a 42.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,205,683 shares of company stock worth $77,217,965. 2.97% of the stock is owned by company insiders.

Interactive Brokers Group 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.