Rare Wolf Capital LLC Invests $659,000 in Intercontinental Exchange Inc. $ICE

Rare Wolf Capital LLC purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,070 shares of the financial services provider’s stock, valued at approximately $659,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. ICONIQ Capital LLC increased its position in Intercontinental Exchange by 2.2% during the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 56 shares during the period. Mechanics Financial Corp boosted its stake in shares of Intercontinental Exchange by 1.0% in the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after buying an additional 60 shares in the last quarter. Mission Wealth Management LP boosted its stake in shares of Intercontinental Exchange by 2.4% in the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after buying an additional 62 shares in the last quarter. Aaron Wealth Advisors LLC grew its holdings in Intercontinental Exchange by 1.9% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock worth $548,000 after acquiring an additional 63 shares during the period. Finally, Evergreen Capital Management LLC grew its holdings in Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after acquiring an additional 63 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the sale, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the sale, the director owned 20,132 shares in the company, valued at $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $133.76 on Friday. The stock has a fifty 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 stock has a market cap of $75.64 billion, a PE ratio of 19.47, a P/E/G ratio of 1.29 and a beta of 0.92. Intercontinental Exchange Inc. has a 1 year low of $132.84 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its 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. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the company earned $1.72 earnings per share. Intercontinental Exchange’s revenue was up 20.4% compared to the same quarter last year. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

ICE has been the subject of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research note on Friday, March 6th. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a report on Thursday, June 11th. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Finally, Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $193.00.

About Intercontinental Exchange

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.