Interval Partners LP Grows Position in Intercontinental Exchange Inc. $ICE

Interval Partners LP grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 64.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ICE. Brighton Jones LLC increased its position in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after buying an additional 1,169 shares in the last quarter. Empowered Funds LLC grew its position in shares of Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 1,189 shares during the period. Sivia Capital Partners LLC grew its position in shares of Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 289 shares during the period. NewEdge Advisors LLC grew its position in shares of Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after purchasing an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in shares of Intercontinental Exchange by 2.4% in the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after purchasing an additional 6,373 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange 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 transaction, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction on 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 transaction, the director owned 20,132 shares in the company, valued at $2,807,608.72. The trade was a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,425 shares of company stock valued at $2,046,324 in the last ninety days. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Weiss Ratings downgraded Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Barclays reaffirmed an “overweight” rating and issued a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Finally, UBS Group reaffirmed a “buy” rating and issued a $205.00 price objective on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. One equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $193.00.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $134.41 on Thursday. Intercontinental Exchange Inc. has a twelve month low of $133.73 and a twelve month high of $189.35. The stock has a market capitalization of $76.01 billion, a P/E ratio of 19.56, a PEG ratio of 1.35 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average price is $152.67 and its 200 day moving average price is $158.94.

Intercontinental Exchange (NYSE:ICE) last issued its 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 return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the firm earned $1.72 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

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.