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Interactive Brokers (IBKR) Records Decline in February DARTs

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Interactive Brokers Group, Inc. (IBKR - Free Report) released its Electronic Brokerage segment’s performance metrics for February. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a year-over-year decrease in Daily Average Revenue Trades (DARTs).

Total client DARTs were 824,000, down 19% from February 2018 and 3% from January 2019. Total customer accounts grew 21% from the prior-year month and 1% sequentially to 614,200.

Net new accounts were 7,400, plunging 33% year over year and 14% from the previous month. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 301,000. This reflects declines of 37% year over year and 6% from January 2019.

Interactive Brokers’ total options contracts were 22.9 million, down 32% from February 2018 and 16% from the last month. Similarly, futures contracts declined 43% from the prior-year month and 23% from the last month to 8.6 million.

At the end of February, client equity was $143.7 billion, up 10% year over year and 3% from January 2019. Further, Interactive Brokers recorded client credit balance of $52.3 billion, up 8% from the prior-year month and 3% sequentially. However, the company’s customer margin loan balance of $25.7 billion declined 8% from February 2018 but increased 8% from the prior month.

Shares of Interactive Brokers have declined more than 19% over the past year.
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) , The Charles Schwab Corp. (SCHW - Free Report) and E*TRADE Financial Corp. (ETFC - Free Report) are likely to report their monthly metrics information in the coming days.

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