Y Intercept Hong Kong Ltd Invests $7.76 Million in Intercontinental Exchange Inc. $ICE

Y Intercept Hong Kong Ltd bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the first quarter, Holdings Channel.com reports. The institutional investor bought 49,359 shares of the financial services provider’s stock, valued at approximately $7,763,000.

Other institutional investors have also added to or reduced their stakes in the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange in the fourth quarter worth approximately $25,000. Holos Integrated Wealth LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Steph & Co. increased its holdings in shares of Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 89 shares in the last quarter. Brooklands Fund Management Ltd acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $28,000. Finally, Swiss RE Ltd. acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $28,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,425 shares of company stock worth $2,046,324 in the last ninety days. 0.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a report on Friday, March 6th. TD Cowen decreased their target price on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Finally, Morgan Stanley upped their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $188.58.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $132.57 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock’s fifty day simple moving average is $144.62 and its two-hundred day simple moving average is $156.46. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $189.35. The stock has a market cap of $74.97 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.24 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm earned $1.72 EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, analysts forecast that Intercontinental Exchange Inc. will post 8.37 EPS for the current fiscal year.

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.