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Interactive Brokers (IBKR) Tanks 6.8% as April DARTs Decline
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Shares of Interactive Brokers Group, Inc. (IBKR - Free Report) have declined 6.8% since the release of its Electronic Brokerage segment’s performance metrics for April 2023 earlier this week. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It reported a decline in client Daily Average Revenue Trades (DARTs) on a sequential and a year-over-year basis.
Total client DARTs for the month were 1,765,000, which declined 14% from the March 2023 level and 20% year over year.
On an annualized basis, IBKR recorded Cleared Average DARTs per customer account of 180. The metric declined 15% sequentially and 33% from the prior-year period. Cleared client DARTs for the month were 1,592,000, declining 14% from March 2023 and 19% from April 2022.
IBKR’s total customer accounts rose 1% from the prior month and 20% from April 2022 to 2.22 million. Net new accounts were 28,700, down 17% from March 2023 and 28% from the prior-year month.
Interactive Brokers’ total options contracts were 65.2 million in April 2023, decreasing 28% from the prior month and 4% from the prior-year month. Futures contracts fell 36% on a sequential basis and 2% year over year to 14.5 million.
At the end of April 2023, client equity was $342.1 billion, marginally down sequentially but up 5% year over year. Interactive Brokers recorded client credit balances of $99.2 billion, up 3% from March 2023 and 9% from April 2022. The company's customer margin loan balance of $39.5 billion increased marginally from the previous month but declined 16% year over year.
Over the past six months, shares of Interactive Brokers have declined 9.2% compared with the industry’s 14.6% fall.
Two other brokerage firms, Charles Schwab (SCHW - Free Report) and LPL Financial Holdings Inc. (LPLA - Free Report) , will report their monthly performance metrics later this month.
At present, Charles Schwab carries a Zacks Rank #5 (Strong Sell) and LPL Financial has a Zacks Rank #4 (Sell).
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Interactive Brokers (IBKR) Tanks 6.8% as April DARTs Decline
Shares of Interactive Brokers Group, Inc. (IBKR - Free Report) have declined 6.8% since the release of its Electronic Brokerage segment’s performance metrics for April 2023 earlier this week. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It reported a decline in client Daily Average Revenue Trades (DARTs) on a sequential and a year-over-year basis.
Total client DARTs for the month were 1,765,000, which declined 14% from the March 2023 level and 20% year over year.
On an annualized basis, IBKR recorded Cleared Average DARTs per customer account of 180. The metric declined 15% sequentially and 33% from the prior-year period. Cleared client DARTs for the month were 1,592,000, declining 14% from March 2023 and 19% from April 2022.
IBKR’s total customer accounts rose 1% from the prior month and 20% from April 2022 to 2.22 million. Net new accounts were 28,700, down 17% from March 2023 and 28% from the prior-year month.
Interactive Brokers’ total options contracts were 65.2 million in April 2023, decreasing 28% from the prior month and 4% from the prior-year month. Futures contracts fell 36% on a sequential basis and 2% year over year to 14.5 million.
At the end of April 2023, client equity was $342.1 billion, marginally down sequentially but up 5% year over year. Interactive Brokers recorded client credit balances of $99.2 billion, up 3% from March 2023 and 9% from April 2022. The company's customer margin loan balance of $39.5 billion increased marginally from the previous month but declined 16% year over year.
Over the past six months, shares of Interactive Brokers have declined 9.2% compared with the industry’s 14.6% fall.
Image Source: Zacks Investment Research
IBKR currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Two other brokerage firms, Charles Schwab (SCHW - Free Report) and LPL Financial Holdings Inc. (LPLA - Free Report) , will report their monthly performance metrics later this month.
At present, Charles Schwab carries a Zacks Rank #5 (Strong Sell) and LPL Financial has a Zacks Rank #4 (Sell).