Kornitzer Capital Management Inc. KS cut its position in Intercontinental Exchange Inc (NYSE:ICE) by 8.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,537 shares of the financial services provider’s stock after selling 5,814 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Intercontinental Exchange were worth $5,770,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Venturi Wealth Management LLC bought a new position in shares of Intercontinental Exchange during the third quarter worth about $25,000. Next Capital Management LLC bought a new position in shares of Intercontinental Exchange during the second quarter worth about $26,000. Carroll Financial Associates Inc. raised its position in shares of Intercontinental Exchange by 51.3% during the second quarter. Carroll Financial Associates Inc. now owns 360 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 122 shares during the last quarter. Arlington Partners LLC bought a new position in shares of Intercontinental Exchange during the second quarter worth about $34,000. Finally, Financial Advantage Inc. bought a new position in shares of Intercontinental Exchange during the third quarter worth about $34,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.
In related news, CEO Jeffrey C. Sprecher sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $92.41, for a total transaction of $3,696,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Charles A. Vice sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $92.70, for a total value of $927,000.00. The disclosure for this sale can be found here. Insiders have sold 123,040 shares of company stock valued at $11,459,809 in the last ninety days. 1.50% of the stock is currently owned by insiders.
A number of brokerages have recently issued reports on ICE. ValuEngine downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barclays set a $104.00 price objective on Intercontinental Exchange and gave the stock a “buy” rating in a research report on Sunday, November 3rd. FIX began coverage on Intercontinental Exchange in a research report on Monday, September 16th. They set an “outperform” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $97.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Finally, Compass Point set a $105.00 price objective on Intercontinental Exchange and gave the stock a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. Intercontinental Exchange has an average rating of “Buy” and an average target price of $95.46.
NYSE ICE traded down $0.17 during trading hours on Friday, hitting $90.47. 2,029,000 shares of the company’s stock were exchanged, compared to its average volume of 2,434,733. The stock has a 50-day simple moving average of $92.85 and a 200 day simple moving average of $88.68. Intercontinental Exchange Inc has a 1-year low of $69.69 and a 1-year high of $95.56. The firm has a market cap of $49.79 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 2.77 and a beta of 0.49. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.39.
Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.06 EPS for the quarter, topping the consensus estimate of $0.95 by $0.11. Intercontinental Exchange had a return on equity of 12.79% and a net margin of 31.97%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts anticipate that Intercontinental Exchange Inc will post 3.9 earnings per share for the current fiscal year.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.
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