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Interactive Brokers (IBKR) Witnesses Y/Y Rise in June DARTs

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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 June 2018. The segment deals with clearance and settlement of trades for individual and institutional clients, globally.

Total client DARTs were 799,000, increasing 17% from June 2017 and 2% from the previous month. Total customer accounts grew 27% year over year and 2% from the prior month to 542,200 in June 2018.

Net new accounts totaled 9,400, rising 22% from the last month but declining 4% from the prior-year period. On an annualized basis, the company recorded 343,000 Cleared Average DARTs per customer account. This remained unchanged from the previous month, however, it declined 8% on a year-over-year basis.

Interactive Brokers’ total option contracts were 27.6 million, up 6% from May 2018. It witnessed rise of 5% from June 2017. Future contracts declined 10% from the last month but increased 2% from the prior-year period to 11 million.

At the end of June 2018, client equity was $134.7 billion, remaining stable from the previous month and increasing 29% year over year. Also, Interactive Brokers recorded client credit balance of $47.6 billion, up 2% from the prior month and rising 4% year over year. The company’s customer margin loan balance of $28.8 billion declined 7% from the preceding month but rose 27% from the prior-year period.

The company’s share price movement reflects investors’ optimism as the stock has increased 9% over the past six months, significantly outperforming 6.4% decline registered by the industry.

The company currently carries a Zacks Rank #3 (Hold).

Stocks to Consider

A few better-ranked stocks in the same space worth considering are Investment Technology Group, Inc. (ITG - Free Report) , LPL Financial Holdings Inc. (LPLA - Free Report) and Evercore Inc (EVR - Free Report) . Each of these stocks sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Investment Technology’s Zacks Consensus Estimate for the current-year earnings moved 16.8% upward over the last 60 days. The company’s shares have rallied 5.5% over the past six months.

LPL Financial Holdings’ current-year earnings estimates have been revised 16.4% upward over the last 60 days. Its shares have gained 12.2% in the past six months.

Over the last 60 days, Evercore’s current-year earnings estimates have been revised 2.7% upward. Over the past six months, the company’s shares have rallied 16.5%.

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