Vice Chairman of Interactive Brokers Sells $11.3 Million in Stock

Earl Nemser, the Vice Chairman of Interactive Brokers Group, Inc. (NASDAQ: IBKR), sold 145,000 shares of the company’s stock on January 23, 2024, for a total of $11,288,250.00. The shares were sold at an average price of $77.85 each. Following this transaction, Nemser’s remaining stake in the company totals 155,000 shares, valued at approximately $12,066,750, marking a significant decrease of 48.33% in his holdings.

This sale was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC), which can be reviewed for more detailed information.

Current Stock Performance and Financial Overview

As of January 25, 2024, shares of Interactive Brokers opened at $75.45. The company has a market capitalization of $127.97 billion and a price-to-earnings (P/E) ratio of 34.06. The stock has shown notable volatility, with a 50-day moving average of $67.63 and a 200-day moving average of $66.36. Over the past year, the stock reached a low of $32.82 and a high of $78.80.

Interactive Brokers recently reported its quarterly earnings on January 20, 2024. The financial services provider posted earnings per share (EPS) of $0.65, exceeding analysts’ expectations of $0.50 by $0.15. The company achieved a net margin of 9.44% and a return on equity of 5.12%. Revenues for the quarter amounted to $1.64 billion, surpassing the forecasted $1.58 billion. This represents an 18.5% increase in revenue compared to the same quarter last year.

Analysts predict that for the current fiscal year, Interactive Brokers will report an EPS of $7.46.

Investor Activity and Analyst Ratings

Recent activity among institutional investors indicates growing interest in Interactive Brokers. AQR Capital Management LLC increased its position by 24.7% in the first quarter, owning 13,704 shares valued at approximately $2.27 million. In a striking move, Farther Finance Advisors LLC raised its holdings by 1,093.9% during the second quarter, now owning 7,378 shares worth about $409,000.

Other notable investors include Park Avenue Securities LLC, which acquired a new stake worth approximately $416,000, and the State of Alaska Department of Revenue, which boosted its position by 284.3%, now holding 49,024 shares valued at $2.72 million. Hedge funds and institutional investors collectively own 23.80% of the company’s stock.

In terms of analyst ratings, several research firms have recently updated their outlook on Interactive Brokers. Weiss Ratings maintained a “hold” rating, while Zacks Research upgraded the stock from “hold” to “strong-buy.” Piper Sandler set a target price of $80.00, and BMO Capital Markets revised its target from $80.00 to $82.00. The Goldman Sachs Group reaffirmed a “buy” rating with a price objective of $91.00. Overall, the consensus rating for the stock remains “buy,” with a target price of $76.39 according to MarketBeat.com.

Interactive Brokers Group, Inc. operates as a global electronic brokerage holding company, providing a range of trading, clearing, and custody services to retail and institutional clients. The firm is noted for its focus on electronic order execution, automated trading, and competitive transaction costs, catering to a diverse array of asset classes across international markets.

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