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

Intercontinental Exchange, Inc. (NYSE:ICE) was the recipient of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 7,060,000 shares, a growth of 9.1% from the November 15th total of 6,470,000 shares. Based on an average daily trading volume, of 2,980,000 shares, the short-interest ratio is presently 2.4 days.

Insiders Place Their Bets

In related news, COO Stuart Glen Williams sold 468 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 $76,195.08. Following the completion of the transaction, the chief operating officer now owns 13,530 shares of the company’s stock, valued at $2,202,819.30. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,901 shares of company stock worth $1,582,542 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ICE. New Millennium Group LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter worth about $25,000. International Assets Investment Management LLC purchased a new position in shares of Intercontinental Exchange in the second quarter worth $25,000. Fairscale Capital LLC bought a new position in shares of Intercontinental Exchange during the second quarter worth $25,000. Wolff Wiese Magana LLC grew its holdings in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of Intercontinental Exchange during the 3rd quarter valued at approximately $26,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of ICE traded down $1.24 during trading hours on Tuesday, hitting $153.34. The stock had a trading volume of 316,053 shares, compared to its average volume of 2,590,479. The firm has a market capitalization of $88.04 billion, a PE ratio of 36.63, a PEG ratio of 2.61 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange has a 12 month low of $122.31 and a 12 month high of $167.99. The stock has a fifty day moving average price of $159.80 and a 200 day moving average price of $153.68.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 EPS. Analysts anticipate that Intercontinental Exchange will post 6.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Piper Sandler increased their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group lifted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, November 1st. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Barclays raised their price target on Intercontinental Exchange from $173.00 to $187.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.07.

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.