Legato Capital Management LLC Sells 8,598 Shares of Intercontinental Exchange Inc. $ICE

Legato Capital Management LLC trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 48.4% during the fourth quarter, HoldingsChannel reports. The firm owned 9,174 shares of the financial services provider’s stock after selling 8,598 shares during the quarter. Legato Capital Management LLC’s holdings in Intercontinental Exchange were worth $1,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth about $25,000. Dorato Capital Management purchased a new stake in Intercontinental Exchange in the 4th quarter worth about $29,000. 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 worth $28,000 after acquiring an additional 89 shares during the last quarter. Holos Integrated Wealth LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth about $28,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in Intercontinental Exchange in the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In other news, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $162.00, for a total value of $740,502.00. Following the sale, the general counsel owned 48,181 shares in the company, valued at approximately $7,805,322. This represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,332 shares of company stock worth $1,794,334 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Up 0.1%

Shares of ICE opened at $153.09 on Monday. The business’s 50-day moving average price is $158.33 and its 200-day moving average price is $160.07. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The stock has a market cap of $86.58 billion, a PE ratio of 22.28, a P/E/G ratio of 1.41 and a beta of 0.96. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced 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. 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 period in the prior year, the business posted $1.72 earnings per share. The company’s revenue was up 20.4% on a year-over-year basis. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 8.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ICE has been the subject of several recent research reports. UBS Group reissued a “buy” rating and issued a $205.00 price objective on shares of Intercontinental Exchange in a report on Wednesday. Weiss Ratings lowered Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective for the company. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Buy” and an average target price of $194.60.

Trending Headlines about Intercontinental Exchange

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: ICE and OKX announced plans to launch perpetual futures tied to ICE Brent Crude and WTI Crude benchmarks, extending ICE’s oil pricing products into a 24/7 crypto derivatives venue and potentially increasing the reach of its commodities franchise. ICE Brent and ICE WTI Perpetual Futures to Launch on OKX
• Positive Sentiment: ICE said it launched its first futures contracts based on battery materials, signaling continued product expansion beyond its traditional financial and energy offerings. Intercontinental Exchange: ICE Launches its first Futures Contracts Based on Battery Materials
• Positive Sentiment: ICE highlighted record all-contract open interest in its financials complex, which suggests strong trading activity and healthy demand for its market infrastructure products. Intercontinental Exchange: ICE Financials Complex Helps Drive Record All Contract Open Interest at ICE

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.