Hudson Bay Capital Management LP Has $56.97 Million Stake in Nasdaq, Inc. $NDAQ

Hudson Bay Capital Management LP boosted its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 345.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 637,121 shares of the financial services provider’s stock after purchasing an additional 494,229 shares during the period. Hudson Bay Capital Management LP’s holdings in Nasdaq were worth $56,971,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE lifted its holdings in Nasdaq by 35.9% during the 2nd quarter. US Bancorp DE now owns 64,153 shares of the financial services provider’s stock worth $5,737,000 after buying an additional 16,950 shares during the period. Pallas Capital Advisors LLC acquired a new stake in shares of Nasdaq in the second quarter valued at about $498,000. 111 Capital boosted its position in Nasdaq by 67.0% during the second quarter. 111 Capital now owns 11,089 shares of the financial services provider’s stock valued at $992,000 after acquiring an additional 4,450 shares during the last quarter. FORA Capital LLC acquired a new stake in Nasdaq during the 1st quarter worth about $664,000. Finally, Fiduciary Alliance LLC raised its position in shares of Nasdaq by 18.9% in the 2nd quarter. Fiduciary Alliance LLC now owns 25,012 shares of the financial services provider’s stock worth $2,237,000 after acquiring an additional 3,976 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Price Performance

Nasdaq stock opened at $93.57 on Friday. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63. The company’s 50 day moving average price is $88.52 and its two-hundred day moving average price is $89.90. The stock has a market cap of $53.43 billion, a P/E ratio of 33.42, a P/E/G ratio of 1.71 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. Nasdaq had a return on equity of 16.28% and a net margin of 19.90%.The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the company posted $0.74 earnings per share. Nasdaq’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 5th. Nasdaq’s payout ratio is 38.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley raised Nasdaq from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $97.00 to $110.00 in a research note on Thursday, November 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Nasdaq in a research note on Tuesday, October 14th. Royal Bank Of Canada restated an “outperform” rating and set a $108.00 price objective on shares of Nasdaq in a report on Thursday, October 9th. Cowen reiterated a “hold” rating on shares of Nasdaq in a report on Wednesday, October 22nd. Finally, Raymond James Financial reissued an “outperform” rating and set a $100.00 target price (up from $99.00) on shares of Nasdaq in a research report on Monday, October 13th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Nasdaq has an average rating of “Moderate Buy” and an average price target of $101.33.

Insiders Place Their Bets

In related news, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $85.40, for a total transaction of $179,767.00. Following the completion of the sale, the executive vice president owned 84,974 shares in the company, valued at approximately $7,256,779.60. This trade represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.