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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).

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. (ETFC - Free Report) are likely to come up with their respective monthly metrics information in the coming days.

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