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GREENWICH, Conn. - Interactive Brokers Group, Inc. (NASDAQ:IBKR), a global electronic brokerage firm, announced the appointment of Lori Conkling as an independent director. Conkling, currently serving as Head of TV & Film Licensing at Netflix, brings over two decades of media industry experience to the Interactive Brokers Board.
Thomas Peterffy, Founder and Chairman of Interactive Brokers, expressed confidence in Conkling’s ability to contribute significantly to the company’s media strategy and brand awareness. Her extensive background includes strategic and leadership roles at Google, NBCUniversal, A+E Networks, Disney and ESPN, and Accenture.
Conkling’s academic credentials include an M.B.A. from Duke University’s Fuqua School of Business and a B.S. in Business Administration from the University of Southern California. She also holds board positions with Teach for America and the Fuqua School of Business’s Board of Visitors.
Interactive Brokers, known for its advanced trading platform, provides automated trade execution and custody of a wide range of financial instruments to a diverse client base, including individual investors and financial institutions. The company emphasizes low-cost and efficient access to markets and investment tools, aiming to facilitate superior investment returns.
The information on this appointment is based on a press release statement from Interactive Brokers.
In other recent news, Interactive Brokers Group has reported a surge in trading activity for February, with Daily Average Revenue Trades (DARTs) increasing by 48% year-over-year, reaching 3.617 million. Client equity also grew significantly, ending at $587.8 billion, a 31% rise compared to the same period last year. The company also introduced NSE IFSC Nifty 50 Index Futures on the Singapore Exchange, broadening access to India’s market for its clients. Barclays analysts have maintained an Overweight rating on Interactive Brokers, citing strong account growth and trading activity, with a price target of $231.00. Bank of America has also recommended Interactive Brokers as a top Buy, expecting increased cash sweep revenues due to favorable economic conditions.
Keefe, Bruyette & Woods affirmed a Market Perform rating with a $205.00 price target, noting robust trading activity and account growth. Despite the positive metrics, their first-quarter earnings per share estimate of $1.83 is slightly below the consensus of $1.85, although current trends could bring it in line. Additionally, Interactive Brokers reported a 32% increase in client accounts year-over-year, reaching 3.54 million. The company continues to see growth in margin loan balances and client credit balances, indicating a strong liquidity position.
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