GAMMA Investing LLC Has $1.84 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

GAMMA Investing LLC decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 19.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,912 shares of the financial services provider’s stock after selling 3,520 shares during the quarter. GAMMA Investing LLC’s holdings in Intercontinental Exchange were worth $1,836,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ICE. Brighton Jones LLC raised its stake in Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after buying an additional 1,169 shares during the period. Empowered Funds LLC grew its stake in Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 1,189 shares during the period. Sivia Capital Partners LLC grew its stake in Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 289 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after acquiring an additional 4,628 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after purchasing an additional 6,373 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction dated 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 owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the sale, the director owned 15,077 shares in the company, valued at $2,280,848.56. The trade was a 4.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a report on Friday, July 31st. TD Cowen reiterated a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. The Goldman Sachs Group lowered their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Trading Down 0.0%

NYSE:ICE opened at $149.77 on Friday. The company has a market cap of $84.08 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 1.48 and a beta of 0.92. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $189.35. The business has a 50 day moving average price of $139.47 and a two-hundred day moving average price of $152.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.81 earnings per share. As a group, analysts expect that Intercontinental Exchange Inc. will post 8.08 EPS for the current fiscal year.

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.