Gabelli Funds LLC Sells 870 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Gabelli Funds LLC lowered its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,319 shares of the financial services provider’s stock after selling 870 shares during the quarter. Gabelli Funds LLC’s holdings in Intercontinental Exchange were worth $4,304,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Annapolis Financial Services LLC boosted its position in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 163 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Intercontinental Exchange during the 1st quarter worth about $26,000. Scarborough Advisors LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter worth about $25,000. Venturi Wealth Management LLC boosted its position in shares of Intercontinental Exchange by 82.3% during the 1st quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 93 shares in the last quarter. Finally, Stuart Chaussee & Associates Inc. bought a new position in shares of Intercontinental Exchange during the 4th quarter worth about $28,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Argus reissued a “buy” rating and set a $153.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their target price on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $164.00 target price on shares of Intercontinental Exchange in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $152.07.

Insider Buying and Selling at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the sale, the chief executive officer now owns 1,179,993 shares in the company, valued at approximately $167,181,408.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the sale, the chief executive officer now owns 1,179,993 shares in the company, valued at approximately $167,181,408.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Judith A. Sprieser sold 2,267 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total transaction of $305,070.19. Following the sale, the director now owns 28,849 shares of the company’s stock, valued at approximately $3,882,209.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,992 shares of company stock worth $9,197,801. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 1.3 %

NYSE:ICE traded up $1.97 on Friday, hitting $151.00. The stock had a trading volume of 2,066,933 shares, compared to its average volume of 2,815,487. 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 $86.61 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 2.65 and a beta of 1.06. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $151.72. The firm’s fifty day simple moving average is $139.66 and its two-hundred day simple moving average is $135.62.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. Analysts predict that Intercontinental Exchange, Inc. will post 6 earnings per share for the current year.

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.