Sycale Advisors NY LLC grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 27.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 172,352 shares of the financial services provider’s stock after acquiring an additional 36,950 shares during the quarter. Intercontinental Exchange comprises 8.7% of Sycale Advisors NY LLC’s portfolio, making the stock its 3rd biggest position. Sycale Advisors NY LLC’s holdings in Intercontinental Exchange were worth $27,914,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new stake in Intercontinental Exchange during the fourth quarter worth about $25,000. Dorato Capital Management acquired a new stake in Intercontinental Exchange during the fourth quarter worth about $29,000. Swiss RE Ltd. acquired a new stake in Intercontinental Exchange during the fourth quarter worth about $28,000. Steph & Co. increased its stake in Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares during the last quarter. Finally, Holos Integrated Wealth LLC acquired a new stake in Intercontinental Exchange during the fourth quarter worth about $28,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the company. UBS Group restated a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research note on Thursday. Piper Sandler restated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Weiss Ratings lowered Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. Finally, Morgan Stanley increased their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $193.00.
Insiders Place Their Bets
In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sharon Bowen sold 667 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares of the company’s stock, valued at $2,280,848.56. This represents a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 12,092 shares of company stock worth $1,860,424. Company insiders own 0.84% of the company’s stock.
Intercontinental Exchange Trading Down 0.2%
Shares of ICE opened at $140.26 on Monday. The company has a market capitalization of $79.32 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.35 and a beta of 0.92. Intercontinental Exchange Inc. has a one year low of $136.67 and a one year high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50-day moving average price of $154.22 and a 200 day moving average price of $159.32.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.Intercontinental Exchange’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.72 earnings per share. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.
Intercontinental Exchange Company Profile
Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.
Featured Articles
- Five stocks we like better than Intercontinental Exchange
- 3 ETFs Giving Ready-Made Access to the Discounted International Small-Cap Space
- What to Expect From Q2 Earnings as Tech Strength Broadens
- Viasat’s Orbiting Profits: Space Force Jackpot?
- Robinhood Wants a Bigger Role in IPOs—Here’s Why It Matters
Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICE – Free Report).
Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.
