Intercontinental Exchange, Inc. (NYSE:ICE) Short Interest Update

Intercontinental Exchange, Inc. (NYSE:ICE) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 5,930,000 shares, an increase of 5.7% from the September 30th total of 5,610,000 shares. Based on an average daily trading volume, of 2,690,000 shares, the days-to-cover ratio is presently 2.2 days.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley lifted their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lifted their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Barclays lifted their target price on Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Piper Sandler lifted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $173.93.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the sale, the chief financial officer now owns 16,576 shares in the company, valued at $2,675,863.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

Several hedge funds have recently added to or reduced their stakes in ICE. Wealth Enhancement Advisory Services LLC raised its stake in Intercontinental Exchange by 5.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,977 shares of the financial services provider’s stock valued at $3,020,000 after acquiring an additional 1,150 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Intercontinental Exchange by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 62,141 shares of the financial services provider’s stock valued at $8,540,000 after acquiring an additional 335 shares in the last quarter. Norden Group LLC bought a new stake in Intercontinental Exchange during the 1st quarter valued at $487,000. First Trust Direct Indexing L.P. increased its position in shares of Intercontinental Exchange by 14.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 16,482 shares of the financial services provider’s stock valued at $2,265,000 after purchasing an additional 2,088 shares during the period. Finally, New Century Financial Group LLC acquired a new position in shares of Intercontinental Exchange during the 1st quarter valued at $223,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 0.1 %

Shares of NYSE ICE opened at $166.53 on Thursday. The company has a market cap of $95.61 billion, a price-to-earnings ratio of 41.22, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. Intercontinental Exchange has a 12-month low of $104.91 and a 12-month high of $167.99. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock’s 50 day simple moving average is $162.14 and its 200 day simple moving average is $147.98.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 EPS. Equities research analysts expect that Intercontinental Exchange will post 6.12 EPS for the current year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.