Interactive Brokers Group Inc. (NASDAQ:IBKR) has just done something it had never done as a public company.
The stock fell for eight straight weeks through Friday, its longest losing streak since it listed in May 2007. Over that stretch, shares dropped 16.2%, from $95.84 to $80.28.
The slide started at the top. Interactive Brokers closed at a record $98.19 on Aug. 25.
Third-quarter results on Oct. 15 did not stop it. Adjusted earnings came in at 67 cents a share, a cent below estimates, even as revenue of $1.914 billion beat the $1.888 billion consensus.
The trading numbers were softer.
Commission revenue per cleared order fell 4% to $2.59, stock share volume dropped 24% and management said activity eased from the second quarter.
On Monday, shares rose 1.5% to $81.47, putting a ninth weekly decline in doubt. The stock is still up about 27% this year, but 17% below its August record.
Analysts are split on targets. On Oct. 16, Barclays raised its price target to $117 and kept an Overweight rating, while BMO Capital cut its target to $100 from $105 and kept Outperform.
Chart: Interactive Brokers’ consecutive weekly gains and losses.
Graph source: TradingView
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