Interchange Capital Partners LLC Reduces Stake in Intercontinental Exchange Inc. $ICE

Interchange Capital Partners LLC trimmed its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 85.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 573 shares of the financial services provider’s stock after selling 3,283 shares during the quarter. Interchange Capital Partners LLC’s holdings in Intercontinental Exchange were worth $105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICE. Tsfg LLC boosted its stake in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 103 shares during the last quarter. Rakuten Securities Inc. boosted its stake in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 143 shares during the last quarter. Activest Wealth Management boosted its stake in Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 162 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new position in Intercontinental Exchange in the first quarter valued at about $30,000. Finally, Global Trust Asset Management LLC purchased a new position in Intercontinental Exchange in the first quarter valued at about $31,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $158.25 on Wednesday. The firm’s 50 day simple moving average is $172.83 and its 200 day simple moving average is $173.89. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $90.58 billion, a PE ratio of 30.37, a price-to-earnings-growth ratio of 2.21 and a beta of 1.08. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping 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 net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 EPS. As a group, analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the sale, the senior vice president owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the transaction, the director directly 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 disclosure for this sale can be found here. Insiders have sold a total of 240,956 shares of company stock worth $43,789,542 in the last ninety days. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ICE shares. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research report on Monday. Finally, Morgan Stanley lowered their price target on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $199.60.

About Intercontinental Exchange

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.