Cumberland Partners Ltd Lowers Stake in Nasdaq, Inc. $NDAQ

Cumberland Partners Ltd cut its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 23.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,003 shares of the financial services provider’s stock after selling 37,527 shares during the quarter. Cumberland Partners Ltd’s holdings in Nasdaq were worth $10,880,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NDAQ. Front Row Advisors LLC purchased a new position in shares of Nasdaq during the 2nd quarter valued at approximately $25,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Nasdaq during the second quarter worth about $27,000. Tripletail Wealth Management LLC bought a new stake in Nasdaq during the third quarter worth approximately $27,000. Access Investment Management LLC acquired a new stake in Nasdaq during the second quarter valued at $28,000. Finally, Westside Investment Management Inc. increased its position in Nasdaq by 100.0% during the third quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 159 shares during the period. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $82.13 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The company has a market cap of $46.69 billion, a P/E ratio of 26.58, a P/E/G ratio of 1.32 and a beta of 1.02. The company’s 50-day moving average price is $94.24 and its 200-day moving average price is $91.87. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $101.79.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the firm posted $0.76 EPS. Nasdaq’s quarterly revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, March 16th. Nasdaq’s dividend payout ratio is 34.95%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Nasdaq from $100.00 to $101.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. TD Cowen boosted their target price on Nasdaq from $104.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 price target on shares of Nasdaq in a research note on Friday, January 30th. Morgan Stanley set a $116.00 price objective on shares of Nasdaq and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Argus upgraded Nasdaq to a “strong-buy” rating in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.13.

Insider Buying and Selling at Nasdaq

In related news, EVP John Zecca sold 4,500 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total value of $450,045.00. Following the transaction, the executive vice president directly owned 125,674 shares of the company’s stock, valued at approximately $12,568,656.74. The trade was a 3.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adena T. Friedman sold 300,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $96.91, for a total transaction of $29,073,000.00. Following the transaction, the chief executive officer owned 1,924,903 shares in the company, valued at $186,542,349.73. The trade was a 13.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 604,500 shares of company stock valued at $58,440,045 in the last ninety days. Insiders own 0.70% of the company’s stock.

About Nasdaq

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.