Cinctive Capital Management LP Increases Stock Position in Nasdaq, Inc. $NDAQ

Cinctive Capital Management LP raised its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 1,939.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,579 shares of the financial services provider’s stock after purchasing an additional 73,775 shares during the quarter. Cinctive Capital Management LP’s holdings in Nasdaq were worth $6,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of NDAQ. Cary Street Partners Investment Advisory LLC raised its position in shares of Nasdaq by 2.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 4,935 shares of the financial services provider’s stock valued at $441,000 after buying an additional 110 shares in the last quarter. Advisors Capital Management LLC grew its position in Nasdaq by 3.4% in the second quarter. Advisors Capital Management LLC now owns 3,968 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 129 shares in the last quarter. PDS Planning Inc grew its position in Nasdaq by 4.9% in the third quarter. PDS Planning Inc now owns 2,830 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 133 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in Nasdaq by 4.6% in the third quarter. Dynamic Advisor Solutions LLC now owns 3,139 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 139 shares during the last quarter. Finally, Mather Group LLC. raised its position in Nasdaq by 3.3% during the third quarter. Mather Group LLC. now owns 4,380 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Up 1.7%

Shares of NASDAQ NDAQ opened at $85.53 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $101.79. The firm has a market capitalization of $48.62 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.57 and a beta of 1.03. The firm has a fifty day simple moving average of $90.63 and a two-hundred day simple moving average of $90.71.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, March 16th. Nasdaq’s payout ratio is presently 34.95%.

Analysts Set New Price Targets

Several brokerages have issued reports on NDAQ. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Nasdaq in a research note on Friday, January 9th. Argus upgraded Nasdaq to a “strong-buy” rating in a research report on Wednesday, February 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $108.00 price objective on shares of Nasdaq in a report on Friday, January 30th. UBS Group restated a “buy” rating and issued a $120.00 target price (up from $115.00) on shares of Nasdaq in a research report on Monday, January 12th. Finally, TD Cowen raised Nasdaq from a “hold” rating to a “buy” rating and upped their target price for the stock from $105.00 to $106.00 in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Nasdaq presently has a consensus rating of “Buy” and a consensus target price of $103.80.

Insider Activity at Nasdaq

In other Nasdaq news, EVP John Zecca sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total transaction of $450,045.00. Following the transaction, the executive vice president owned 125,674 shares in the company, valued at approximately $12,568,656.74. This represents a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adena T. Friedman sold 92,840 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $90.08, for a total value of $8,363,027.20. Following the completion of the transaction, the chief executive officer directly owned 2,079,323 shares of the company’s stock, valued at $187,305,415.84. This represents a 4.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 697,340 shares of company stock worth $66,803,072. Insiders own 0.70% of the company’s stock.

Nasdaq Company Profile

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.