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Interactive Brokers Stock Falls 2.5% as August DARTs Decline
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Shares of Interactive Brokers Group, Inc. (IBKR - Free Report) have declined 2.5%, following the release of its Electronic Brokerage segment’s performance metrics for August 2018. The segment, which deals with clearance and settlement of trades for individual and institutional clients globally, reported a fall in Daily Average Revenue Trades (DARTs) from the prior month.
Total client DARTs came in at 741,000, decreasing 1% from July 2018 but increasing 6% from August 2017. Total customer accounts grew 2% from the prior month and 26% year over year to 565,800 in the reported month.
Net new accounts totaled 10,400, declining 21% from the last month and 18% from the prior-year month. On an annualized basis, the company recorded Cleared Average DARTs per customer account of 302,000. This reflects a decrease of 4% from the previous month and 17% year over year.
Interactive Brokers’ total options contracts were 30.1 million, up 19% from July 2018 and up 6% from August 2017. Futures contracts increased 5% from the last month but declined 9% from the prior-year month to 10.1 million.
At the end of August 2018, client equity was $141.1 billion, up 2% from the previous month and 25% year over year. Further, Interactive Brokers recorded client credit balance of $48.1 billion, increasing 3% from the prior month and 3% year over year. The company’s customer margin loan balance of $29.1 billion grew 3% from the preceding month and 20% from the prior-year period.
Interactive Brokers’ shares have lost 13.7% over the past six months compared with the industry’s decline of 10%.
The company currently carries a Zacks Rank #4 (Sell).
Among other investment brokers, TD Ameritrade Holding Corporation (AMTD - Free Report) , The Charles Schwab Corp. (SCHW - Free Report) and E*TRADE Financial Corp. are likely to come up with their respective monthly metrics information in the coming days.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Interactive Brokers Stock Falls 2.5% as August DARTs Decline
Shares of Interactive Brokers Group, Inc. (IBKR - Free Report) have declined 2.5%, following the release of its Electronic Brokerage segment’s performance metrics for August 2018. The segment, which deals with clearance and settlement of trades for individual and institutional clients globally, reported a fall in Daily Average Revenue Trades (DARTs) from the prior month.
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Total client DARTs came in at 741,000, decreasing 1% from July 2018 but increasing 6% from August 2017. Total customer accounts grew 2% from the prior month and 26% year over year to 565,800 in the reported month.
Net new accounts totaled 10,400, declining 21% from the last month and 18% from the prior-year month. On an annualized basis, the company recorded Cleared Average DARTs per customer account of 302,000. This reflects a decrease of 4% from the previous month and 17% year over year.
Interactive Brokers’ total options contracts were 30.1 million, up 19% from July 2018 and up 6% from August 2017. Futures contracts increased 5% from the last month but declined 9% from the prior-year month to 10.1 million.
At the end of August 2018, client equity was $141.1 billion, up 2% from the previous month and 25% year over year. Further, Interactive Brokers recorded client credit balance of $48.1 billion, increasing 3% from the prior month and 3% year over year. The company’s customer margin loan balance of $29.1 billion grew 3% from the preceding month and 20% from the prior-year period.
Interactive Brokers’ shares have lost 13.7% over the past six months compared with the industry’s decline of 10%.
The company currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among other investment brokers, TD Ameritrade Holding Corporation (AMTD - Free Report) , The Charles Schwab Corp. (SCHW - Free Report) and E*TRADE Financial Corp. are likely to come up with their respective monthly metrics information in the coming days.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>