Insider Selling: Intercontinental Exchange (NYSE:ICE) Director Sells 91 Shares of Stock

Intercontinental Exchange Inc. (NYSE:ICE) Director William Jefferson Hague sold 91 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $138.50, for a total value of $12,603.50. Following the completion of the transaction, the director owned 21,465 shares of the company’s stock, valued at $2,972,902.50. This trade represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Intercontinental Exchange Trading Down 1.0%

ICE traded down $1.35 during trading on Thursday, hitting $138.99. The company’s stock had a trading volume of 3,079,356 shares, compared to its average volume of 3,808,833. The firm’s 50 day moving average price is $154.94 and its 200-day moving average price is $159.52. 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 has a market cap of $78.60 billion, a PE ratio of 20.23, a PEG ratio of 1.36 and a beta of 0.92. Intercontinental Exchange Inc. has a twelve month low of $136.67 and a twelve month high of $189.35.

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

Institutional Trading of Intercontinental Exchange

Institutional investors and hedge funds have recently made changes to their positions in the company. Ares Financial Consulting LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at $25,000. Brooklands Fund Management Ltd acquired a new stake in Intercontinental Exchange in the 4th quarter valued at $28,000. Dorato Capital Management acquired a new stake in Intercontinental Exchange in the 4th quarter valued at $29,000. Swiss RE Ltd. acquired a new stake in Intercontinental Exchange in the 4th quarter valued at $28,000. Finally, Steph & Co. increased its holdings in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ICE has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a report on Friday, March 6th. UBS Group restated a “buy” rating and set a $205.00 price objective on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Weiss Ratings downgraded Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Finally, Piper Sandler restated an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $193.00.

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.