GSA Capital Partners LLP Takes Position in Intercontinental Exchange Inc. $ICE

GSA Capital Partners LLP acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 9,774 shares of the financial services provider’s stock, valued at approximately $1,203,000.

Several other hedge funds have also added to or reduced their stakes in ICE. Ares Financial Consulting LLC acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $25,000. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $28,000. Swiss RE Ltd. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $30,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other news, Director Sharon Bowen sold 667 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the sale, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the transaction, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 18,376 shares of company stock worth $2,746,946. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of several research analyst reports. Morgan Stanley decreased their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. Piper Sandler dropped their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. The Goldman Sachs Group cut their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $154.62 on Tuesday. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $181.72. The company has a market cap of $86.80 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.52 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50-day simple moving average is $140.90 and its 200 day simple moving average is $151.97.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.81 earnings per share. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.