4,501 Intercontinental Exchange Inc. $ICE Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 58,799 shares of the financial services provider’s stock after selling 4,501 shares during the quarter. Yousif Capital Management LLC’s holdings in Intercontinental Exchange were worth $8,939,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ICE. Rakuten Securities Inc. acquired a new position in Intercontinental Exchange during the second quarter valued at approximately $26,000. Gables Capital Management Inc. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $31,000. James T. Borello RIA boosted its holdings in shares of Intercontinental Exchange by 143.0% during the 3rd quarter. James T. Borello RIA now owns 209 shares of the financial services provider’s stock worth $32,000 after buying an additional 123 shares during the period. Fiduciary Financial Advisors bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $33,000. Finally, Clearstead Trust LLC acquired a new position in Intercontinental Exchange in the 2nd quarter valued at $37,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.7%

ICE opened at $162.73 on Friday. The firm’s 50-day simple moving average is $157.26 and its 200-day simple moving average is $150.89. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $176.05. The firm has a market cap of $91.36 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 1.50 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 earnings per share. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.20 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Martha Tirinnanzi sold 1,340 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $161.16, for a total transaction of $215,954.40. Following the sale, the director directly owned 3,747 shares in the company, valued at $603,866.52. This represents a 26.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $160.00, for a total value of $256,000.00. Following the sale, the senior vice president directly owned 15,863 shares of the company’s stock, valued at $2,538,080. This represents a 9.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 41,179 shares of company stock worth $6,473,715 over the last 90 days. Company insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, October 2nd. Weiss Ratings upgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Raymond James Financial cut their price objective on Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating for the company in a research report on Monday, October 5th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, Morgan Stanley increased their target price on Intercontinental Exchange from $163.00 to $173.00 and gave the company an “equal weight” rating in a research note on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.31.

About Intercontinental Exchange

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.