Cinctive Capital Management LP Invests $7.69 Million in Intercontinental Exchange Inc. $ICE

Cinctive Capital Management LP bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the fourth quarter, Holdings Channel reports. The institutional investor bought 47,454 shares of the financial services provider’s stock, valued at approximately $7,686,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Claar Advisors LLC boosted its position in shares of Intercontinental Exchange by 0.3% during the 4th quarter. Claar Advisors LLC now owns 57,654 shares of the financial services provider’s stock valued at $9,338,000 after acquiring an additional 150 shares during the last quarter. City National Bank of Florida MSD raised its stake in Intercontinental Exchange by 10.7% during the fourth quarter. City National Bank of Florida MSD now owns 2,474 shares of the financial services provider’s stock valued at $401,000 after purchasing an additional 239 shares in the last quarter. Aristotle Atlantic Partners LLC raised its stake in Intercontinental Exchange by 9.8% during the fourth quarter. Aristotle Atlantic Partners LLC now owns 194,429 shares of the financial services provider’s stock valued at $31,490,000 after purchasing an additional 17,433 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Intercontinental Exchange by 175.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,176,627 shares of the financial services provider’s stock valued at $190,567,000 after purchasing an additional 749,783 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Intercontinental Exchange by 18.6% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 42,139 shares of the financial services provider’s stock valued at $6,837,000 after purchasing an additional 6,614 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Transactions at Intercontinental Exchange

In related news, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director owned 15,077 shares in the company, valued at $2,280,848.56. The trade was a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $134.41 on Thursday. The stock has a market cap of $76.01 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50 day moving average price of $152.67 and a 200-day moving average price of $158.94. Intercontinental Exchange Inc. has a one year low of $133.73 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.72 EPS. Equities analysts expect that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ICE. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Weiss Ratings downgraded shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. Barclays reaffirmed an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research note on Friday, March 6th. Finally, Morgan Stanley upped their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

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.