Lecap Asset Management Ltd. Makes New Investment in Intercontinental Exchange Inc. $ICE

Lecap Asset Management Ltd. purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,859 shares of the financial services provider’s stock, valued at approximately $1,075,000.

Several other large investors have also recently made changes to their positions in ICE. Tsfg LLC raised its stake in shares of Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 103 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 143 shares during the period. Activest Wealth Management increased its stake in shares of Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after buying an additional 162 shares during the period. McClarren Financial Advisors Inc. purchased a new position in shares of Intercontinental Exchange in the first quarter worth $30,000. Finally, Global Trust Asset Management LLC purchased a new position in shares of Intercontinental Exchange in the first quarter worth $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the sale, the director owned 14,299 shares in the company, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the sale, the general counsel owned 46,293 shares in the company, valued at approximately $8,255,430.69. This trade represents a 7.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 230,874 shares of company stock worth $42,187,714. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on ICE shares. UBS Group lifted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Barclays lifted their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, September 25th. Piper Sandler lifted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley decreased their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $197.00.

Intercontinental Exchange Stock Down 3.4%

Shares of Intercontinental Exchange stock opened at $162.71 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $177.43 and its two-hundred day simple moving average is $174.82. The company has a market cap of $93.14 billion, a P/E ratio of 31.23, a PEG ratio of 2.01 and a beta of 1.08. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 EPS. Research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.