Gabelli Rates IBKR Buy

Gabelli has rated Interactive Brokers Group (NASDAQ: IBKR) Buy.

According to Gabelli, "We believe IBG is well positioned to grow its brokerage business based on its automated low cost platform and broad access to global products… At the current price shares are trading at 1.27x trailing book value of $12.50 per share and at a 21% discount to our 2011 Private Market Value of $21 per share."

IBKR closed at $15.82 yesterday.