TCM Advisors LLC Purchases Shares of 3,855 Intercontinental Exchange Inc. $ICE

TCM Advisors LLC acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, Holdings Channel.com reports. The fund acquired 3,855 shares of the financial services provider’s stock, valued at approximately $475,000.

A number of other hedge funds have also modified their holdings of ICE. Cibc World Market Inc. acquired a new position in shares of Intercontinental Exchange in the 2nd quarter worth $1,355,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at $5,274,000. Osmosis Investment Management UK Ltd purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at $2,275,000. Sanctuary Advisors LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $7,777,000. Finally, Barbara Oil Co. acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $954,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Up 0.0%

NYSE:ICE opened at $161.29 on Monday. The stock has a market cap of $90.55 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $181.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50-day moving average is $142.34 and its two-hundred day moving average is $151.54.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 earnings per share. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director directly owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This represents a 6.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Douglas Foley sold 7,300 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the transaction, the senior vice president owned 19,063 shares in the company, valued at $2,838,099.44. This represents a 27.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,200 shares of company stock valued at $3,035,385 in the last three months. Company insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research note on Friday, July 31st. TD Cowen reiterated a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. UBS Group reissued a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.33.

Intercontinental Exchange 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.