Shares of Interactive Brokers Group, Inc. (IBKR - Free Report) have rallied almost 2% since the release of its Electronic Brokerage segment’s performance metrics for August 2019. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a sequential increase in Daily Average Revenue Trades (DARTs).
Total client DARTs were 930,000, up 16% from July 2019 and 26% from August 2018. Total customer accounts grew 1% from the prior month and 17% from the prior-year month to 659,500.
Net new accounts were 7,400, growing 1% sequentially but down 29% year over year. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 325,000. This reflects a rise of 18% from July 2019 and 8% from August 2018.
Interactive Brokers’ total options contracts were 33.9 million, up 19% from July 2019 and 13% from August 2018. Also, futures contracts surged 39% from the prior month and 40% from the year-ago month to 14.2 million.
At the end of August, client equity was $154.6 billion, down 1% sequentially but up 10% year over year. Further, Interactive Brokers recorded client credit balance of $54.7 billion, down 2% sequentially but growing 10% from August 2018. The company’s customer margin loan balance of $25.6 billion decreased 3% from July 2019 and 12% from the prior-year month.
Shares of Interactive Brokers have lost 11.8% so far this year against 6.2% rise of the industry it belongs to.
The stock 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, LPL Financial Holdings Inc. (LPLA - Free Report) , Charles Schwab (SCHW - Free Report) and E*TRADE Financial are likely to report their monthly metrics information soon.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Shares of Interactive Brokers Group, Inc. (IBKR - Free Report) have rallied almost 2% since the release of its Electronic Brokerage segment’s performance metrics for August 2019. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a sequential increase in Daily Average Revenue Trades (DARTs).
Total client DARTs were 930,000, up 16% from July 2019 and 26% from August 2018. Total customer accounts grew 1% from the prior month and 17% from the prior-year month to 659,500.
Net new accounts were 7,400, growing 1% sequentially but down 29% year over year. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 325,000. This reflects a rise of 18% from July 2019 and 8% from August 2018.
Interactive Brokers’ total options contracts were 33.9 million, up 19% from July 2019 and 13% from August 2018. Also, futures contracts surged 39% from the prior month and 40% from the year-ago month to 14.2 million.
At the end of August, client equity was $154.6 billion, down 1% sequentially but up 10% year over year. Further, Interactive Brokers recorded client credit balance of $54.7 billion, down 2% sequentially but growing 10% from August 2018. The company’s customer margin loan balance of $25.6 billion decreased 3% from July 2019 and 12% from the prior-year month.
Shares of Interactive Brokers have lost 11.8% so far this year against 6.2% rise of the industry it belongs to.
The stock 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, LPL Financial Holdings Inc. (LPLA - Free Report) , Charles Schwab (SCHW - Free Report) and E*TRADE Financial are likely to report their monthly metrics information soon.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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