Nasdaq Sees Unusually High Options Volume (NASDAQ:NDAQ)

Nasdaq, Inc. (NASDAQ:NDAQ) saw unusually large options trading on Monday. Investors purchased 5,215 call options on the stock. This represents an increase of 115% compared to the average daily volume of 2,427 call options.

Nasdaq Stock Performance

Shares of NASDAQ NDAQ traded up $0.56 during trading hours on Monday, reaching $67.52. 7,367,028 shares of the stock were exchanged, compared to its average volume of 2,854,519. The firm has a market capitalization of $38.84 billion, a price-to-earnings ratio of 35.24, a P/E/G ratio of 3.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 0.94. Nasdaq has a 52 week low of $46.88 and a 52 week high of $67.99. The stock’s fifty day simple moving average is $60.90 and its 200 day simple moving average is $59.81.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share. Sell-side analysts predict that Nasdaq will post 2.71 EPS for the current year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, September 13th. This represents a $0.96 dividend on an annualized basis and a yield of 1.42%. Nasdaq’s dividend payout ratio (DPR) is presently 50.53%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Oppenheimer upped their price objective on Nasdaq from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com cut Nasdaq from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Morgan Stanley raised Nasdaq from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $59.00 to $80.00 in a research report on Tuesday, April 9th. Argus upped their price objective on Nasdaq from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Finally, Keefe, Bruyette & Woods upped their price objective on Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and a consensus price target of $68.25.

Insiders Place Their Bets

In other Nasdaq news, EVP Bryan Everard Smith sold 3,036 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $59.89, for a total value of $181,826.04. Following the completion of the sale, the executive vice president now directly owns 58,636 shares in the company, valued at $3,511,710.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Nasdaq

Hedge funds have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. increased its stake in Nasdaq by 89.3% during the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 201 shares during the period. Hobbs Group Advisors LLC bought a new position in shares of Nasdaq in the 2nd quarter valued at $26,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Nasdaq in the 4th quarter valued at $29,000. LRI Investments LLC bought a new position in shares of Nasdaq in the 1st quarter valued at $31,000. Finally, New Millennium Group LLC bought a new position in shares of Nasdaq in the 2nd quarter valued at $34,000. Institutional investors own 72.47% of the company’s stock.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.