Fosun International Ltd Lowers Position in Nasdaq, Inc. $NDAQ

Fosun International Ltd trimmed its position in shares of Nasdaq, Inc. (NASDAQ:NDAQFree Report) by 46.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,834 shares of the financial services provider’s stock after selling 9,516 shares during the quarter. Fosun International Ltd’s holdings in Nasdaq were worth $854,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fiduciary Financial Advisors acquired a new stake in Nasdaq in the second quarter valued at about $25,000. MV Capital Management Inc. acquired a new position in Nasdaq during the 4th quarter worth approximately $28,000. Nemes Rush Group LLC purchased a new position in shares of Nasdaq during the 4th quarter worth approximately $35,000. Uniplan Investment Counsel Inc. purchased a new position in shares of Nasdaq during the 4th quarter worth approximately $35,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of Nasdaq during the 4th quarter worth approximately $37,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Nasdaq Price Performance

NDAQ stock opened at $99.31 on Monday. The firm has a 50 day moving average of $91.20 and a 200-day moving average of $88.42. The company has a market cap of $55.51 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 1.32 and a beta of 0.96. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a 12-month low of $76.55 and a 12-month high of $101.79.

Nasdaq (NASDAQ:NDAQGet Free Report) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts expect that Nasdaq, Inc. will post 4.15 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 11th. Nasdaq’s payout ratio is presently 36.15%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NDAQ shares. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research note on Monday, July 20th. Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Barclays reissued an “overweight” rating and issued a $111.00 target price (up from $108.00) on shares of Nasdaq in a report on Friday, July 24th. TD Cowen restated a “buy” rating and set a $105.00 target price (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Finally, Morgan Stanley restated an “overweight” rating and set a $120.00 target price on shares of Nasdaq in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Nasdaq presently has an average rating of “Buy” and a consensus target price of $110.30.

View Our Latest Research Report on NDAQ

Insiders Place Their Bets

In other news, EVP Bradley J. Peterson sold 13,000 shares of Nasdaq stock in a transaction on Friday, July 24th. The stock was sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the completion of the transaction, the executive vice president owned 128,293 shares of the company’s stock, valued at $11,881,214.73. The trade was a 9.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Ab Investor purchased 56,782 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average cost of $85.98 per share, with a total value of $4,882,116.36. Following the purchase, the insider directly owned 58,439,208 shares in the company, valued at approximately $5,024,603,103.84. The trade was a 0.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 41,797 shares of company stock worth $3,926,319. 0.60% of the stock is owned by corporate insiders.

About Nasdaq

(Free Report)

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.

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Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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