Interactive Brokers Group (NASDAQ:IBKR) 2010 EPS Estimate Lowered

Even though Interactive Brokers Group (NASDAQ:IBKR) had a weak December, Gabelli sees them positioned strongly to grow their business.

Gabelli said, "We are lowering our 2010 EPS estimate to $0.52 from $0.60 following December trading metrics, which declined from November due to seasonal factors including holiday schedules and lower company news flow...The company will report 4Q earnings in the third week of January. We estimate brokerage pre-tax of $75.2 mm vs. $63 mm in 3Q. Trading metrics improved sequentially, while the company received a boost from interest balances...Despite a disappointing quarter for market making, we continue to believe IBG is well positioned to grow its brokerage business."

Gabelli maintains a "Buy" rating on Interactive Brokers Group, which closed Wednesday at $17.77, gaining $0.14, or 0.79 percent.