Mackenzie Financial Corp Lowers Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Mackenzie Financial Corp decreased its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 37.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,064 shares of the financial services provider’s stock after selling 17,609 shares during the period. Mackenzie Financial Corp’s holdings in Nasdaq were worth $1,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NDAQ. CWM LLC boosted its holdings in shares of Nasdaq by 6.5% in the third quarter. CWM LLC now owns 11,683 shares of the financial services provider’s stock valued at $568,000 after acquiring an additional 714 shares in the last quarter. HB Wealth Management LLC purchased a new stake in shares of Nasdaq in the third quarter valued at about $232,000. Naples Global Advisors LLC boosted its holdings in shares of Nasdaq by 9.1% in the third quarter. Naples Global Advisors LLC now owns 7,170 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 600 shares in the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of Nasdaq by 5.3% in the third quarter. Flagship Harbor Advisors LLC now owns 18,195 shares of the financial services provider’s stock valued at $884,000 after acquiring an additional 918 shares in the last quarter. Finally, LGT Capital Partners LTD. boosted its holdings in shares of Nasdaq by 73.9% in the third quarter. LGT Capital Partners LTD. now owns 534,790 shares of the financial services provider’s stock valued at $25,985,000 after acquiring an additional 227,190 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Performance

Shares of NDAQ opened at $61.09 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.94. The stock has a market cap of $35.14 billion, a P/E ratio of 28.95, a PEG ratio of 2.74 and a beta of 0.93. The company has a 50-day moving average of $59.63 and a two-hundred day moving average of $56.32. Nasdaq, Inc. has a 12-month low of $46.88 and a 12-month high of $64.25.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Nasdaq had a net margin of 17.48% and a return on equity of 19.28%. The company’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. As a group, research analysts predict that Nasdaq, Inc. will post 2.76 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, March 13th. Nasdaq’s dividend payout ratio is presently 41.71%.

Insider Activity at Nasdaq

In related news, EVP Bryan Everard Smith sold 7,400 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.91, for a total value of $465,534.00. Following the completion of the sale, the executive vice president now directly owns 61,672 shares in the company, valued at $3,879,785.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the completion of the sale, the insider now directly owns 58,341,545 shares in the company, valued at $3,383,809,610. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Bryan Everard Smith sold 7,400 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $62.91, for a total transaction of $465,534.00. Following the completion of the sale, the executive vice president now owns 61,672 shares of the company’s stock, valued at $3,879,785.52. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on NDAQ shares. Barclays started coverage on shares of Nasdaq in a research note on Thursday, April 11th. They issued an “overweight” rating and a $76.00 price objective for the company. StockNews.com upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Morgan Stanley upgraded shares of Nasdaq from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $59.00 to $80.00 in a research note on Tuesday, April 9th. Edward Jones started coverage on shares of Nasdaq in a research note on Wednesday, April 3rd. They issued a “buy” rating for the company. Finally, UBS Group raised their price objective on shares of Nasdaq from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.09.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.