Intercontinental Exchange, Inc. (NYSE:ICE) Short Interest Update

Intercontinental Exchange, Inc. (NYSE:ICE) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 4,680,000 shares, an increase of 8.8% from the May 31st total of 4,300,000 shares. Based on an average daily trading volume, of 2,250,000 shares, the short-interest ratio is currently 2.1 days.

Intercontinental Exchange Stock Up 0.2 %

ICE stock traded up $0.34 on Wednesday, hitting $141.16. 2,070,106 shares of the company’s stock were exchanged, compared to its average volume of 2,354,417. Intercontinental Exchange has a 12-month low of $104.49 and a 12-month high of $141.59. The firm has a 50 day moving average price of $134.79 and a two-hundred day moving average price of $133.12. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $80.97 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 2.55 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, hitting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the business earned $1.41 EPS. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, equities research analysts expect that Intercontinental Exchange will post 5.96 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the transaction, the insider now directly owns 649,934 shares in the company, valued at approximately $565,442.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were acquired at an average cost of $0.87 per share, with a total value of $305,265.60. Following the completion of the purchase, the insider now directly owns 649,934 shares in the company, valued at approximately $565,442.58. The disclosure for this purchase can be found here. Over the last three months, insiders sold 4,506 shares of company stock valued at $609,374. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in Intercontinental Exchange by 219.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after purchasing an additional 8,348,126 shares during the last quarter. Norges Bank purchased a new stake in Intercontinental Exchange during the 4th quarter valued at about $839,259,000. Vanguard Group Inc. grew its stake in Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after purchasing an additional 3,536,913 shares during the last quarter. Capital World Investors grew its stake in Intercontinental Exchange by 35.6% during the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after purchasing an additional 2,530,119 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Intercontinental Exchange by 303.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock valued at $305,832,000 after purchasing an additional 1,790,493 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ICE. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday. Rosenblatt Securities reissued a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Keefe, Bruyette & Woods decreased their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Argus reaffirmed a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Finally, Citigroup lifted their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.29.

Intercontinental Exchange Company 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.