Intercontinental Exchange, Inc. (NYSE:ICE) Short Interest Down 8.6% in September

Intercontinental Exchange, Inc. (NYSE:ICE) was the target of a large decline in short interest in September. As of September 15th, there was short interest totalling 5,710,000 shares, a decline of 8.6% from the August 31st total of 6,250,000 shares. Based on an average trading volume of 2,770,000 shares, the days-to-cover ratio is currently 2.1 days.

Analyst Ratings Changes

A number of research firms have issued reports on ICE. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. TD Cowen initiated coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their target price for the company from $143.00 to $167.00 in a research note on Monday, July 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $162.47.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the transaction, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 395 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the transaction, the chief technology officer now owns 64,471 shares in the company, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,316 shares of company stock worth $9,835,609. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $25,000. Annapolis Financial Services LLC grew its stake in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares in the last quarter. New Millennium Group LLC bought a new position in Intercontinental Exchange during the second quarter valued at about $25,000. International Assets Investment Management LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at $25,000. Finally, Fairscale Capital LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter worth about $25,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 0.3 %

Shares of Intercontinental Exchange stock traded up $0.51 on Tuesday, reaching $161.15. The stock had a trading volume of 3,076,881 shares, compared to its average volume of 2,498,945. The stock has a market capitalization of $92.43 billion, a P/E ratio of 36.96, a P/E/G ratio of 2.81 and a beta of 1.08. Intercontinental Exchange has a 1 year low of $104.49 and a 1 year high of $163.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a 50 day moving average price of $157.37 and a 200 day moving average price of $143.91.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business’s revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 EPS. As a group, equities research analysts forecast that Intercontinental Exchange will post 6.04 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.