Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Skylands Capital LLC

Skylands Capital LLC lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 10.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,100 shares of the financial services provider’s stock after selling 250 shares during the quarter. Skylands Capital LLC’s holdings in Intercontinental Exchange were worth $287,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Aspen Investment Management Inc raised its position in shares of Intercontinental Exchange by 0.7% in the 2nd quarter. Aspen Investment Management Inc now owns 12,559 shares of the financial services provider’s stock worth $1,719,000 after buying an additional 93 shares during the period. AlphaStar Capital Management LLC increased its stake in Intercontinental Exchange by 20.3% during the second quarter. AlphaStar Capital Management LLC now owns 10,469 shares of the financial services provider’s stock worth $1,433,000 after acquiring an additional 1,768 shares during the last quarter. MTM Investment Management LLC raised its holdings in shares of Intercontinental Exchange by 10.6% in the 2nd quarter. MTM Investment Management LLC now owns 4,268 shares of the financial services provider’s stock worth $584,000 after purchasing an additional 409 shares during the period. Catalyst Financial Partners LLC lifted its stake in shares of Intercontinental Exchange by 3.4% in the 2nd quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 73 shares in the last quarter. Finally, New Millennium Group LLC acquired a new position in Intercontinental Exchange during the second quarter valued at approximately $25,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ICE. Argus reaffirmed a “buy” rating and set a $153.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $164.00 target price on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price target for the company from $143.00 to $167.00 in a research report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $154.93.

Intercontinental Exchange Price Performance

Shares of ICE stock traded up $0.21 during trading on Tuesday, hitting $160.52. The company had a trading volume of 894,611 shares, compared to its average volume of 2,449,798. The firm has a market capitalization of $92.07 billion, a P/E ratio of 36.77, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06. Intercontinental Exchange, Inc. has a one year low of $104.49 and a one year high of $161.49. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 0.99. The stock’s 50-day moving average price is $147.77 and its 200 day moving average price is $139.63.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.43 EPS. Equities analysts expect that Intercontinental Exchange, Inc. will post 6 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at approximately $2,675,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the sale, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at $2,675,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the sale, the insider now directly owns 14,636 shares of the company’s stock, valued at approximately $2,174,909.60. The disclosure for this sale can be found here. Insiders sold a total of 62,725 shares of company stock valued at $8,892,731 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange 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.