Rare Wolf Capital LLC Acquires New Stake in Intercontinental Exchange Inc. $ICE

Rare Wolf Capital LLC acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,070 shares of the financial services provider’s stock, valued at approximately $659,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $25,000. Brooklands Fund Management Ltd purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Dorato Capital Management purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $29,000. Swiss RE Ltd. acquired a new position in Intercontinental Exchange in the 4th quarter valued at $28,000. Finally, Steph & Co. lifted its stake in shares of Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.6%

ICE opened at $133.76 on Friday. Intercontinental Exchange Inc. has a 1 year low of $132.84 and a 1 year high of $189.35. The firm has a 50 day moving average price of $152.03 and a 200 day moving average price of $158.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $75.64 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92.

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

Insiders Place Their Bets

In other news, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ICE shares. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a report on Thursday, June 11th. Morgan Stanley increased their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Piper Sandler restated an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Finally, UBS Group reaffirmed a “buy” rating and set a $205.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $193.00.

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.