Hardy Reed LLC Buys 148 Shares of Intercontinental Exchange Inc. $ICE

Hardy Reed LLC increased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,279 shares of the financial services provider’s stock after purchasing an additional 148 shares during the period. Hardy Reed LLC’s holdings in Intercontinental Exchange were worth $1,886,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ICE. Brighton Jones LLC boosted its holdings in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 1,169 shares during the last quarter. NBC Securities Inc. acquired a new position in Intercontinental Exchange during the 1st quarter valued at about $88,000. Sivia Capital Partners LLC boosted its stake in shares of Intercontinental Exchange by 4.6% in the 1st quarter. Sivia Capital Partners LLC now owns 1,789 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 78 shares during the last quarter. Wedmont Private Capital boosted its stake in shares of Intercontinental Exchange by 15.2% in the 1st quarter. Wedmont Private Capital now owns 7,065 shares of the financial services provider’s stock valued at $1,219,000 after purchasing an additional 932 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its position in shares of Intercontinental Exchange by 17.7% during the 1st quarter. Capital Investment Advisors LLC now owns 1,772 shares of the financial services provider’s stock worth $306,000 after buying an additional 266 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Trading Down 2.3%

Shares of NYSE:ICE opened at $158.96 on Tuesday. The company’s fifty day simple moving average is $176.06 and its 200 day simple moving average is $174.56. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The firm has a market cap of $90.99 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.98 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.52 EPS. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ICE. UBS Group lifted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Morgan Stanley cut their target price on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Piper Sandler boosted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Barclays increased their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Saturday, September 27th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.20.

Insider Activity at Intercontinental Exchange

In other news, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the sale, the director owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. This represents a 12.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the sale, the senior vice president directly owned 25,796 shares in the company, valued at $4,530,293.52. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 230,874 shares of company stock worth $42,187,714. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.