Intercontinental Exchange Inc. $ICE Shares Bought by Interval Partners LP

Interval Partners LP grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 64.9% during the fourth quarter, HoldingsChannel reports. The firm owned 96,375 shares of the financial services provider’s stock after buying an additional 37,932 shares during the period. Interval Partners LP’s holdings in Intercontinental Exchange were worth $15,609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth about $25,000. Brooklands Fund Management Ltd acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth about $28,000. Dorato Capital Management acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth about $29,000. Swiss RE Ltd. acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth about $28,000. Finally, Steph & Co. lifted its stake in shares of 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 purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 4.9%

NYSE:ICE opened at $134.41 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $133.73 and a one year high of $189.35. The business’s 50-day simple moving average is $152.67 and its 200 day simple moving average is $158.94. The stock has a market cap of $76.01 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the firm posted $1.72 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

ICE has been the topic of a number of recent research reports. UBS Group restated a “buy” rating and set a $205.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a research note on Friday, March 6th. Piper Sandler restated an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Finally, Morgan Stanley boosted their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $193.00.

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the sale, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 13,425 shares of company stock valued at $2,046,324. Insiders own 0.84% of the company’s stock.

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.