Sone Capital Management LLC Invests $20.43 Million in Intercontinental Exchange Inc. $ICE

Sone Capital Management LLC acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 165,990 shares of the financial services provider’s stock, valued at approximately $20,435,000. Intercontinental Exchange makes up approximately 1.6% of Sone Capital Management LLC’s investment portfolio, making the stock its 19th largest position.

Other hedge funds have also recently bought and sold shares of the company. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $25,000. Brooklands Fund Management Ltd acquired a new position in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Swiss RE Ltd. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $30,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $26,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,491 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the completion of the sale, the chief financial officer owned 22,698 shares in the company, valued at approximately $3,547,697.40. This trade represents a 9.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the sale, the director directly owned 20,132 shares in the company, valued at $2,807,608.72. The trade was a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,227 shares of company stock worth $2,598,301 in the last three months. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $162.89 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.65. The company has a fifty day moving average price of $142.80 and a 200 day moving average price of $151.54. The stock has a market cap of $91.45 billion, a P/E ratio of 23.01, a PEG ratio of 1.57 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the business posted $1.81 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts anticipate that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research note on Monday, July 6th. UBS Group restated a “buy” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. TD Cowen reaffirmed a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. The Goldman Sachs Group dropped their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $183.33.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.