Twin Tree Management LP Purchases Shares of 1,122 Intercontinental Exchange Inc. $ICE

Twin Tree Management LP purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,122 shares of the financial services provider’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tsfg LLC raised its stake in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after buying an additional 103 shares in the last quarter. Activest Wealth Management raised its stake in Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after buying an additional 162 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Intercontinental Exchange in the first quarter valued at $30,000. Hilltop National Bank acquired a new stake in Intercontinental Exchange in the second quarter valued at $31,000. Finally, Accredited Wealth Management LLC purchased a new position in shares of Intercontinental Exchange during the first quarter worth about $33,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the sale, the senior vice president owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the sale, the chief technology officer directly owned 65,240 shares in the company, valued at $10,365,331.20. This represents a 13.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 240,956 shares of company stock worth $43,789,542 in the last three months. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ICE. UBS Group raised their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Raymond James Financial raised Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective on the stock in a report on Monday. JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, September 25th. Finally, Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $199.60.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $153.52 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The business’s 50-day moving average price is $170.86 and its 200 day moving average price is $173.52. The firm has a market cap of $87.88 billion, a P/E ratio of 29.47, a P/E/G ratio of 2.14 and a beta of 1.08.

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

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.