Narwhal Capital Management Acquires 9,700 Shares of Intercontinental Exchange Inc. $ICE

Narwhal Capital Management raised its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 18.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 61,878 shares of the financial services provider’s stock after acquiring an additional 9,700 shares during the period. Narwhal Capital Management’s holdings in Intercontinental Exchange were worth $7,618,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ares Financial Consulting LLC purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth $25,000. Brooklands Fund Management Ltd purchased a new position in Intercontinental Exchange during the fourth quarter valued at $28,000. Swiss RE Ltd. bought a new stake in Intercontinental Exchange in the 4th quarter valued at $28,000. Lloyd Advisory Services LLC. bought a new stake in Intercontinental Exchange in the 4th quarter valued at $30,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Intercontinental Exchange in the 4th quarter worth $37,000. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the sale, the chief technology officer owned 67,988 shares in the company, valued at approximately $10,279,785.60. This represents a 5.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 20,725 shares of company stock worth $3,115,124. 0.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a report on Friday, July 31st. Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a research report on Monday, July 6th. Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Barclays restated an “overweight” rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One equities research 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. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Stock Down 0.4%

Shares of NYSE ICE opened at $154.55 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $182.86. The firm’s 50-day moving average price is $140.59 and its 200-day moving average price is $152.26. The stock has a market capitalization of $86.76 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 1.53 and a beta of 0.92.

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

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.