Who wins as AMEX:IBKR and NYSE:SCHW seemingly make trading practically free? Interactive Brokers Group, Inc. has released its Electronic Brokerage segment’s performance metrics for June 2019. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported sequential decline in Daily Average Revenue Trades Total client DARTs were 807,000, down 10% from May 2019 but up 1% from June 2018. Total customer accounts grew 1% from the prior month and 19% from the prior-year month to 644,800. Net new accounts were 6,200, falling 22% sequentially and 33% year over year. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 280,000. This reflects a fall of 12% from May 2019 and 18% from June 2018. Interactive Brokers’ total options contracts were 25.9 million, down 21% from May 2019 and 6% from June 2018. Also, futures contracts decreased 17% from the prior month and 3% from the year-ago month to 10.6 million. Source Marketwatch
Technically the stock has taken a very bearish turn and the possibility exists that it may be forming a Bear flag with multiple resistances above and indicators ringing alarm bells.
AVERAGE ANALYSTS PRICE TARGET $52.60 AVERAGE ANALYSTS RECOMMENDATION HOLD P/E RATIO 22 SHORT INTEREST 3.66%
COMPANY PROFILE Interactive Brokers Group, Inc. operates as an investment holding company, which engages in broker or dealer and proprietary trading businesses. It operates through the following segments: Electronic Brokerage and Market Making. The Electronic Brokerage segment is a direct market access broker, which serve the customers of both traditional brokers and prime brokers. This segment provide its customers with an advanced order management, trade execution and portfolio management platform. The Market Making segment provide continuous bid and offer quotations on over one million securities and futures products listed on electronic exchanges around the world. The company was founded by Thomas Pechy Peterffy in 1977 and is headquartered in Greenwich, CT.