Tower Research Capital LLC TRC Invests $331,000 in Nasdaq Inc. (NDAQ)
Tower Research Capital LLC TRC purchased a new stake in Nasdaq Inc. (NASDAQ:NDAQ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,122 shares of the company’s stock, valued at approximately $331,000.
Several other hedge funds have also recently added to or reduced their stakes in NDAQ. Vanguard Group Inc. boosted its stake in shares of Nasdaq by 4.0% in the second quarter. Vanguard Group Inc. now owns 10,535,832 shares of the company’s stock valued at $681,353,000 after buying an additional 407,297 shares during the last quarter. State Street Corp boosted its stake in shares of Nasdaq by 0.7% in the first quarter. State Street Corp now owns 4,843,763 shares of the company’s stock valued at $321,526,000 after buying an additional 34,705 shares during the last quarter. Norges Bank bought a new stake in shares of Nasdaq during the fourth quarter valued at approximately $97,490,000. Westpac Banking Corp boosted its stake in shares of Nasdaq by 0.7% in the second quarter. Westpac Banking Corp now owns 1,530,633 shares of the company’s stock valued at $98,731,000 after buying an additional 10,089 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Nasdaq by 162.5% in the second quarter. JPMorgan Chase & Co. now owns 1,456,325 shares of the company’s stock valued at $94,181,000 after buying an additional 901,623 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.
Nasdaq Inc. (NASDAQ:NDAQ) opened at 69.80 on Tuesday. Nasdaq Inc. has a 52 week low of $50.44 and a 52 week high of $71.92. The firm has a 50-day moving average price of $70.44 and a 200-day moving average price of $66.38. The company has a market cap of $11.55 billion, a P/E ratio of 24.17 and a beta of 0.77.
Nasdaq (NASDAQ:NDAQ) last released its earnings results on Wednesday, July 27th. The company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.03. The company earned $559 million during the quarter, compared to analysts’ expectations of $548 million. Nasdaq had a return on equity of 10.76% and a net margin of 13.79%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. Equities research analysts anticipate that Nasdaq Inc. will post $3.71 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Wednesday, September 14th. Nasdaq’s payout ratio is presently 44.44%.
NDAQ has been the topic of several analyst reports. Deutsche Bank AG upped their target price on Nasdaq from $76.00 to $77.00 and gave the company a “buy” rating in a report on Friday, September 9th. Barclays PLC set a $79.00 target price on Nasdaq and gave the company a “buy” rating in a report on Wednesday, September 7th. Evercore ISI cut Nasdaq from a “buy” rating to a “hold” rating and reduced their target price for the company from $69.00 to $68.00 in a report on Tuesday, July 5th. Jefferies Group boosted their price target on Nasdaq from $58.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, July 28th. Finally, JPMorgan Chase & Co. boosted their price target on Nasdaq from $64.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $69.67.
In other Nasdaq news, insider Edward S. Knight sold 19,555 shares of Nasdaq stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $70.40, for a total transaction of $1,376,672.00. Following the completion of the transaction, the insider now owns 76,407 shares in the company, valued at $5,379,052.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pc Nelson Griggs sold 2,945 shares of Nasdaq stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $71.52, for a total value of $210,626.40. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
Nasdaq Company Profile
Nasdaq, Inc (Nasdaq), formerly The NASDAQ OMX Group, Inc, is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across approximately six continents. The Company manages, operates and provides its products and services through four segments: Market Services, Listing Services, Information Services and Technology Solutions.
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