Moors & Cabot Inc. Has $2.24 Million Stake in Intercontinental Exchange Inc. $ICE

Moors & Cabot Inc. raised its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 8.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,205 shares of the financial services provider’s stock after buying an additional 951 shares during the period. Moors & Cabot Inc.’s holdings in Intercontinental Exchange were worth $2,239,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ICE. Princeton Global Asset Management LLC acquired a new position in Intercontinental Exchange in the second quarter valued at about $28,000. Activest Wealth Management lifted its stake in Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after buying an additional 162 shares during the period. Westside Investment Management Inc. acquired a new position in Intercontinental Exchange in the second quarter valued at about $29,000. McClarren Financial Advisors Inc. acquired a new position in Intercontinental Exchange in the first quarter valued at about $30,000. Finally, Hilltop National Bank acquired a new position in Intercontinental Exchange in the second quarter valued at about $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.4%

NYSE:ICE opened at $146.38 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $83.79 billion, a PE ratio of 28.10, a PEG ratio of 2.11 and a beta of 1.08. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The stock has a 50-day simple moving average of $163.62 and a 200 day simple moving average of $173.25.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.71. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $1.55 earnings per share. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Piper Sandler increased their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. UBS Group lowered their price target on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a report on Friday, October 31st. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. TD Cowen lowered their price target on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a report on Friday, October 31st. Finally, Morgan Stanley decreased their price objective on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $191.82.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at $10,365,331.20. This trade represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the transaction, the general counsel owned 46,293 shares of the company’s stock, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 240,162 shares of company stock valued at $43,642,652. 1.00% of the stock is owned by insiders.

Intercontinental Exchange 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.