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Interactive Brokers Stock Declines on Lower October DARTs

Zacks Equity Research

Shares of Interactive Brokers Group, Inc. IBKR have declined 1.2% following release of its Electronic Brokerage segment’s performance metrics for October 2019. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a decrease in Daily Average Revenue Trades (DARTs).

Total client DARTs were 797,000, down 5% from September 2019 and 19% from October 2018. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 270,000. This reflects a fall of 6% sequentially and 30% year over year.

On the other hand, total customer accounts grew 1% from the prior month and 15% from the prior-year month to 673,400. Further, net new accounts were 7,200, rising 7% from September 2019 but declining 24% from October 2018.

Interactive Brokers’ total options contracts were 32.6 million, up 6% from September 2019 but down 12% year over year. Futures contracts were on par with the prior month but fell 30% from the year-ago month to 11 million.

At the end of October, client equity was $162.1 billion, up 4% sequentially and 21% year over year. Further, Interactive Brokers recorded client credit balance of $56.6 billion, up 2% on a sequential basis and 11% from October 2018. The company’s customer margin loan balance of $25.3 billion declined 1% from September 2019 and 12% from the prior-year month.

Shares of Interactive Brokers have lost 15% so far this year against 8.8% rise of the industry it belongs to.



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, Charles Schwab SCHW and E*TRADE Financial ETFC are likely to report monthly metrics information in the coming days.

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The Charles Schwab Corporation (SCHW) : Free Stock Analysis Report
 
Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report
 
LPL Financial Holdings Inc. (LPLA) : Free Stock Analysis Report
 
E*TRADE Financial Corporation (ETFC) : Free Stock Analysis Report
 
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