Quantbot Technologies LP Invests $1.65 Million in Nasdaq, Inc. $NDAQ

Quantbot Technologies LP bought a new position in Nasdaq, Inc. (NASDAQ:NDAQ) during the second quarter, HoldingsChannel reports. The fund bought 20,874 shares of the financial services provider’s stock, valued at approximately $1,645,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Nasdaq in the second quarter worth about $2,931,637,000. Norges Bank purchased a new position in shares of Nasdaq during the 4th quarter valued at about $530,100,000. Morgan Stanley lifted its position in shares of Nasdaq by 62.6% during the 4th quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider’s stock valued at $900,061,000 after buying an additional 3,567,843 shares in the last quarter. Nuveen LLC grew its stake in shares of Nasdaq by 82.0% during the 4th quarter. Nuveen LLC now owns 6,073,271 shares of the financial services provider’s stock valued at $589,897,000 after acquiring an additional 2,736,322 shares during the period. Finally, Harris Associates L P grew its stake in shares of Nasdaq by 46.0% during the 4th quarter. Harris Associates L P now owns 8,621,689 shares of the financial services provider’s stock valued at $837,425,000 after acquiring an additional 2,716,280 shares during the period. Institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Up 0.6%

Shares of NDAQ opened at $98.79 on Tuesday. The business’s 50 day moving average is $90.00 and its 200 day moving average is $88.05. The company has a market capitalization of $55.22 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 1.30 and a beta of 0.96. Nasdaq, Inc. has a 12-month low of $76.55 and a 12-month high of $101.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. Research analysts expect that Nasdaq, Inc. will post 4.15 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, September 11th. Nasdaq’s payout ratio is 36.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NDAQ shares. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research note on Monday, July 20th. TD Cowen reiterated a “buy” rating and issued a $105.00 price target (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Zacks Research raised shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Finally, Barclays restated an “overweight” rating and set a $111.00 target price (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nasdaq presently has a consensus rating of “Buy” and an average target price of $110.30.

Insider Buying and Selling

In other Nasdaq news, insider Pc Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the sale, the insider directly owned 205,001 shares in the company, valued at approximately $19,751,846.35. The trade was a 5.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Bradley J. Peterson sold 13,000 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the completion of the sale, the executive vice president owned 128,293 shares in the company, valued at approximately $11,881,214.73. The trade was a 9.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 41,797 shares of company stock worth $3,926,319. 0.60% of the stock is owned by insiders.

About Nasdaq

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.