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Interactive Brokers' (IBKR) Sees a Y/Y Rise in DARTs in May

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Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in Daily Average Revenue Trades (DARTs) for May 2018. The segment deals with clearance and settlement of trades for individual and institutional clients, globally.

Total client DARTs were 780,000, increasing 16% from May 2017 but decreasing 4% from April 2017. Total customer accounts grew 27% year over year and 1% from the prior month to 532,800 in May 2018.

Net new accounts totaled 7,700, remaining stable from the last month but rising 5% from the prior-year period. On an annualized basis, the company recorded 343,000 Cleared Average DARTs per customer account. This reflects a decrease of 6% from the previous month and 9% decline on a year-over-year basis.

Interactive Brokers’ total option contracts were 26 million, down 6% from April 2018 but rising 3% from May 2017. Future contracts declined 5% from the last month but jumped 22% from the prior-year period to 12.2 million.

At the end of May 2018, client equity was $134.5 billion, rising 3% from the previous month and increasing 31% year over year. Also, Interactive Brokers recorded client credit balance of $46.6 billion, up 1% from the prior month and rising 5% year over year. The company’s customer margin loan balance of $31 billion grew 4% from the preceding month and 38% from the prior-year period.

The company’s share price movement reflects investors’ optimism as the stock has rallied 22.8% over the past six months, significantly outperforming 2.2% growth registered by the industry.

The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Other Stocks to Consider

A few other stocks in the same space worth considering are E*TRADE Financial Corporation (ETFC - Free Report) , LPL Financial Holdings Inc. (LPLA - Free Report) and Evercore Inc (EVR - Free Report) . Each of these stocks sports a Zacks Rank #1.

E*TRADE Financial’s Zacks Consensus Estimate for the current-year earnings moved 11.3% upward over the past 60 days. The company’s shares have surged 26.8% over the past six months.

LPL Financial Holdings’ current-year earnings estimates have been revised 26.9% upward over the past 60 days. Its shares have gained 27.6% in the past six months.

Over the past 60 days, Evercore’s current-year earnings estimates have been revised 7% upward. Over the past six months, the company’s shares have rallied 18.7%.

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