Bosun Asset Management LLC Trims Stock Position in Intercontinental Exchange Inc. $ICE

Bosun Asset Management LLC cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,900 shares of the financial services provider’s stock after selling 100 shares during the quarter. Bosun Asset Management LLC’s holdings in Intercontinental Exchange were worth $328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Bain Capital Public Equity Management II LLC bought a new stake in Intercontinental Exchange during the first quarter valued at approximately $135,006,000. Bain Capital Public Equity LP bought a new stake in Intercontinental Exchange during the first quarter valued at approximately $2,216,000. Belmont Capital LLC bought a new stake in Intercontinental Exchange during the first quarter valued at approximately $1,392,000. Banque Transatlantique SA bought a new stake in Intercontinental Exchange during the first quarter valued at approximately $15,973,000. Finally, AQR Capital Management LLC lifted its position in Intercontinental Exchange by 32.9% during the first quarter. AQR Capital Management LLC now owns 245,878 shares of the financial services provider’s stock valued at $42,382,000 after purchasing an additional 60,921 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Activity at Intercontinental Exchange

In related news, Director Martha A. Tirinnanzi sold 610 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $179.76, for a total transaction of $109,653.60. Following the completion of the sale, the director directly owned 3,519 shares in the company, valued at $632,575.44. This represents a 14.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the sale, the director owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 227,830 shares of company stock worth $41,668,789 over the last ninety days. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Trading Down 0.4%

NYSE:ICE opened at $174.48 on Friday. The company has a fifty day moving average of $181.64 and a 200 day moving average of $174.72. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $99.87 billion, a P/E ratio of 33.49, a P/E/G ratio of 2.09 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the business posted $1.52 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Barclays lifted their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, UBS Group boosted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $194.92.

About Intercontinental Exchange

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.