Olstein Capital Management L.P. Lowers Stake in Nasdaq, Inc. $NDAQ

Olstein Capital Management L.P. decreased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 11.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 81,000 shares of the financial services provider’s stock after selling 10,000 shares during the period. Olstein Capital Management L.P.’s holdings in Nasdaq were worth $7,164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NDAQ. Front Row Advisors LLC acquired a new stake in shares of Nasdaq during the second quarter worth $25,000. Twin Peaks Wealth Advisors LLC acquired a new position in Nasdaq in the second quarter valued at $27,000. Bruce G. Allen Investments LLC lifted its position in Nasdaq by 72.7% during the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock worth $25,000 after buying an additional 120 shares during the period. Tripletail Wealth Management LLC acquired a new stake in Nasdaq in the 3rd quarter worth about $27,000. Finally, Access Investment Management LLC purchased a new stake in Nasdaq in the 2nd quarter valued at about $28,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Nasdaq

In related news, EVP Jeremy Skule sold 2,105 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total transaction of $179,767.00. Following the transaction, the executive vice president directly owned 84,974 shares of the company’s stock, valued at approximately $7,256,779.60. The trade was a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $96.66 on Friday. The firm’s fifty day simple moving average is $90.80 and its 200 day simple moving average is $91.14. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.72. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $99.59. The firm has a market capitalization of $55.19 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 1.56 and a beta of 1.01.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.29 billion. Nasdaq had a return on equity of 16.28% and a net margin of 19.90%.The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 EPS. As a group, equities research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, December 5th. Nasdaq’s dividend payout ratio (DPR) is presently 38.57%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NDAQ. Raymond James Financial reiterated an “outperform” rating and set a $100.00 price objective (up from $99.00) on shares of Nasdaq in a report on Monday, October 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Nasdaq in a research note on Tuesday, October 14th. Barclays reiterated an “overweight” rating and issued a $114.00 price target (up previously from $109.00) on shares of Nasdaq in a report on Friday, December 12th. Cowen restated a “hold” rating on shares of Nasdaq in a report on Wednesday, October 22nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $111.00 target price (up previously from $110.00) on shares of Nasdaq in a report on Monday, December 22nd. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.40.

About Nasdaq

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.