Interactive Brokers Stock Falls 3.6% as March DARTs Decline

Shares of Interactive Brokers Group, Inc.’s IBKR have declined 3.6% following the release of its Electronic Brokerage segment’s performance metrics for March 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) for the reported month.

Total client DARTs came in at 903,000, decreasing 11% from February 2018 but increasing 39% from March 2017. Total customer accounts grew 2% from the prior month and 28% year over year to 517,400 in the reported month.

Net new accounts totaled 9,600, declining 14% from the last month but rising 22% from the prior-year month. On an annualized basis, the company recorded Cleared Average DARTs per customer account of 411,000. This reflects a decrease of 14% from the previous month but grew 10% year over year.

Interactive Brokers’ total option contracts came in at 33.7 million, down 1% from February 2018 but surging 35% from March 2017. Future contracts declined 4% from the last month but jumped 33% from the prior-year month to 14.5 million.

At the end of March 2018, client equity was $129.2 billion, dipping 1% from the previous month but increasing 33% year over year. Also, Interactive Brokers recorded client credit balance of $46.9 billion, down 1% from the prior month but rising 7% year over year. The company’s customer margin loan balance of $29.3 billion grew 5% from the preceding month and 40% from the prior-year period.

Interactive Brokers’ shares have surged 37% over the past six months, significantly outperforming the industry’s rally of 12.2%.

The company carries a Zacks Rank #2 (Buy). 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, The Charles Schwab Corp. SCHW and E*TRADE Financial Corp. ETFC are likely to come up with their respective monthly metrics information along with first-quarter 2018 earnings releases.

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