Balyasny Asset Management L.P. Acquires 749,783 Shares of Intercontinental Exchange Inc. $ICE

Balyasny Asset Management L.P. increased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 175.7% during the fourth quarter, Holdings Channel reports. The fund owned 1,176,627 shares of the financial services provider’s stock after purchasing an additional 749,783 shares during the period. Balyasny Asset Management L.P.’s holdings in Intercontinental Exchange were worth $190,567,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Ares Financial Consulting LLC bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $25,000. Holos Integrated Wealth LLC bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Steph & Co. grew its position in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares during the last quarter. Brooklands Fund Management Ltd bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Finally, Swiss RE Ltd. bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $28,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Down 4.9%

Shares of ICE opened at $134.41 on Thursday. Intercontinental Exchange Inc. has a 52 week low of $133.73 and a 52 week high of $189.35. 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 firm has a market capitalization of $76.01 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.35 and a beta of 0.92. The business’s fifty day moving average price is $152.67 and its two-hundred day moving average price is $158.94.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 13,425 shares of company stock valued at $2,046,324 over the last quarter. 0.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on ICE shares. Weiss Ratings lowered Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective on the stock. Morgan Stanley increased their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Barclays reiterated an “overweight” rating and issued a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $193.00.

About Intercontinental Exchange

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.