Hudson Bay Capital Management LP Cuts Position in Nasdaq, Inc. $NDAQ

Hudson Bay Capital Management LP decreased its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 56.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 275,664 shares of the financial services provider’s stock after selling 361,457 shares during the period. Hudson Bay Capital Management LP’s holdings in Nasdaq were worth $24,382,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Front Row Advisors LLC purchased a new position in Nasdaq in the second quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Nasdaq during the 2nd quarter valued at approximately $27,000. Tripletail Wealth Management LLC purchased a new stake in shares of Nasdaq during the 3rd quarter worth approximately $27,000. Westside Investment Management Inc. boosted its stake in shares of Nasdaq by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 159 shares in the last quarter. Finally, West Branch Capital LLC acquired a new stake in shares of Nasdaq in the 3rd quarter worth approximately $29,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Analyst Ratings Changes

NDAQ has been the subject of several research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $108.00 price objective on shares of Nasdaq in a report on Friday, January 30th. Argus raised Nasdaq to a “strong-buy” rating in a report on Wednesday, February 11th. UBS Group restated a “buy” rating and issued a $120.00 price target (up from $115.00) on shares of Nasdaq in a research report on Monday, January 12th. Morgan Stanley set a $116.00 price target on Nasdaq and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $109.00 price objective on shares of Nasdaq in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Nasdaq currently has an average rating of “Buy” and a consensus price target of $103.80.

Nasdaq Price Performance

Shares of NASDAQ:NDAQ opened at $85.44 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.01. The business’s fifty day moving average price is $89.80 and its two-hundred day moving average price is $90.53. The stock has a market cap of $48.57 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 1.59 and a beta of 1.03. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $101.79.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Nasdaq had a return on equity of 16.90% and a net margin of 21.77%.The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm posted $0.76 earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.08 annualized dividend and a yield of 1.3%. Nasdaq’s payout ratio is presently 34.95%.

Insider Activity

In other news, EVP John Zecca sold 4,500 shares of Nasdaq stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total transaction of $450,045.00. Following the completion of the sale, the executive vice president directly owned 125,674 shares in the company, valued at $12,568,656.74. The trade was a 3.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adena T. Friedman sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $96.91, for a total transaction of $29,073,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,924,903 shares of the company’s stock, valued at approximately $186,542,349.73. This represents a 13.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 697,340 shares of company stock valued at $66,803,072 in the last three months. 0.70% of the stock is currently owned by corporate insiders.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.