Nasdaq, Inc. (NASDAQ:NDAQ – Get Free Report) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 6,083,576 shares, a decline of 34.2% from the August 15th total of 9,248,434 shares. Based on an average daily volume of 2,616,255 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.1% of the shares of the company are sold short.
Nasdaq Trading Up 2.4%
Shares of NDAQ opened at $93.54 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock has a market cap of $52.29 billion, a PE ratio of 27.27, a PEG ratio of 1.59 and a beta of 0.97. Nasdaq has a 1 year low of $76.55 and a 1 year high of $101.79. The stock has a 50 day simple moving average of $94.59 and a 200-day simple moving average of $89.64.
Nasdaq (NASDAQ:NDAQ – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, beating 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 firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The business’s revenue was up 14.9% compared to the same quarter last year. On average, sell-side analysts predict that Nasdaq will post 4.15 EPS for the current fiscal year.
Nasdaq Announces Dividend
Analysts Set New Price Targets
NDAQ has been the topic of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research report on Monday, July 20th. Rothschild & Co Redburn set a $110.00 price target on shares of Nasdaq in a research note on Thursday, June 11th. Morgan Stanley reissued an “overweight” rating and issued a $120.00 price target on shares of Nasdaq in a report on Friday, July 24th. Raymond James Financial reissued an “outperform” rating and issued a $113.00 price target (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Finally, Zacks Research raised shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $110.30.
Check Out Our Latest Stock Analysis on NDAQ
Insider Activity
In related news, EVP Jeremy Skule sold 1,125 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $94.22, for a total value of $105,997.50. Following the completion of the sale, the executive vice president owned 101,198 shares in the company, valued at approximately $9,534,875.56. This trade represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total value of $1,060,813.50. Following the sale, the insider directly owned 205,001 shares in the company, valued at approximately $19,751,846.35. This trade represents a 5.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 42,922 shares of company stock valued at $4,032,316. Insiders own 0.60% of the company’s stock.
Institutional Investors Weigh In On Nasdaq
Hedge funds have recently made changes to their positions in the company. Security National Bank of SO Dak bought a new position in shares of Nasdaq in the second quarter valued at approximately $47,000. Wellington Altus USA Inc. grew its position in Nasdaq by 89.3% during the 2nd quarter. Wellington Altus USA Inc. now owns 1,412 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 666 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Nasdaq by 16.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 85,621 shares of the financial services provider’s stock worth $6,749,000 after acquiring an additional 12,398 shares during the last quarter. Tidal Investments LLC increased its holdings in Nasdaq by 2.8% during the 2nd quarter. Tidal Investments LLC now owns 66,321 shares of the financial services provider’s stock valued at $5,227,000 after purchasing an additional 1,836 shares in the last quarter. Finally, MCF Advisors LLC increased its holdings in Nasdaq by 187.2% during the 2nd quarter. MCF Advisors LLC now owns 899 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 586 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.
Nasdaq Company Profile
Nasdaq, Inc (NASDAQ:NDAQ) operates financial markets and provides technology, data and analytics services to exchanges, brokers, institutional investors, corporations and other financial institutions. The company is best known for operating the Nasdaq Stock Market, a major U.S. equities exchange and a prominent venue for technology and growth companies.
Nasdaq’s businesses include listings, trading, market data, indexes, clearing and market infrastructure solutions. Through its technology platforms, the company provides exchange operators and financial institutions with systems for trading, surveillance, risk management, regulatory compliance and other market functions.
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