Kirtland Hills Capital Management LLC Takes $613,000 Position in Nasdaq, Inc. $NDAQ

Kirtland Hills Capital Management LLC acquired a new position in Nasdaq, Inc. (NASDAQ:NDAQ) during the second quarter, HoldingsChannel.com reports. The fund acquired 7,774 shares of the financial services provider’s stock, valued at approximately $613,000.

Several other large investors have also added to or reduced their stakes in NDAQ. Empowered Funds LLC grew its position in Nasdaq by 3.8% in the first quarter. Empowered Funds LLC now owns 14,574 shares of the financial services provider’s stock valued at $1,106,000 after purchasing an additional 538 shares in the last quarter. Woodline Partners LP lifted its position in Nasdaq by 40.7% during the 1st quarter. Woodline Partners LP now owns 34,962 shares of the financial services provider’s stock worth $2,652,000 after buying an additional 10,110 shares in the last quarter. Focus Partners Wealth lifted its position in Nasdaq by 22.0% during the 1st quarter. Focus Partners Wealth now owns 14,351 shares of the financial services provider’s stock worth $1,089,000 after buying an additional 2,584 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Nasdaq by 345.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $45,000 after buying an additional 463 shares during the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Nasdaq by 4.4% in the 2nd quarter. Guggenheim Capital LLC now owns 11,386 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 481 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Insider Activity at Nasdaq

In other Nasdaq news, insider Pc Nelson Griggs sold 11,010 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the completion of the sale, the insider owned 205,001 shares of the company’s stock, valued at $19,751,846.35. This trade represents a 5.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ab Investor acquired 56,782 shares of Nasdaq stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the transaction, the insider owned 58,439,208 shares of the company’s stock, valued at approximately $5,024,603,103.84. This trade represents a 0.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 41,797 shares of company stock worth $3,926,319. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

NDAQ has been the topic of several recent analyst reports. Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Raymond James Financial reissued an “outperform” rating and issued a $113.00 price objective (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a research note on Monday, July 20th. Morgan Stanley reissued an “overweight” rating and issued a $120.00 target price on shares of Nasdaq in a research note on Friday, July 24th. Finally, Zacks Research raised shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. 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. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $110.30.

Nasdaq Price Performance

Shares of NASDAQ NDAQ opened at $98.22 on Friday. The business’s 50 day moving average price is $89.85 and its two-hundred day moving average price is $88.04. The company has a market cap of $54.90 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a twelve month low of $76.55 and a twelve month high of $101.79.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts predict that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Dividend Announcement

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

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.