Landscape Capital Management L.L.C. Takes Position in Intercontinental Exchange Inc. $ICE

Landscape Capital Management L.L.C. acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,754 shares of the financial services provider’s stock, valued at approximately $2,552,000.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in shares of Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after purchasing an additional 10,742 shares during the period. M&G PLC increased its holdings in shares of Intercontinental Exchange by 18.4% in the third quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock valued at $17,988,000 after purchasing an additional 16,635 shares during the period. Dover Advisors LLC acquired a new position in shares of Intercontinental Exchange in the third quarter valued at about $710,000. Advisors Preferred LLC increased its holdings in shares of Intercontinental Exchange by 284.5% in the third quarter. Advisors Preferred LLC now owns 43,645 shares of the financial services provider’s stock valued at $7,098,000 after purchasing an additional 32,295 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after buying an additional 413,639 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ICE shares. Piper Sandler restated an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. UBS Group restated a “buy” rating and issued a $205.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Weiss Ratings downgraded Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. Finally, Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research note on Thursday. One equities 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $193.00.

Insider Transactions at Intercontinental Exchange

In other news, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the transaction, the director owned 15,077 shares in the company, valued at $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the transaction, the chief financial officer owned 25,189 shares in the company, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 12,092 shares of company stock worth $1,860,424. 0.84% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $140.26 on Monday. The company has a market cap of $79.32 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The stock’s 50 day simple moving average is $154.22 and its 200-day simple moving average is $159.32. Intercontinental Exchange Inc. has a 1-year low of $136.67 and a 1-year high of $189.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.72 earnings per share. As a group, equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.16 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.