Nasdaq (NDAQ) Rating Lowered to Sell at BidaskClub
BidaskClub cut shares of Nasdaq (NASDAQ:NDAQ) from a hold rating to a sell rating in a research report sent to investors on Saturday.
NDAQ has been the subject of a number of other reports. UBS Group raised their target price on Nasdaq from $101.00 to $107.00 and gave the company a buy rating in a research note on Thursday, July 26th. Jefferies Financial Group restated a hold rating and issued a $90.00 target price on shares of Nasdaq in a research note on Friday, July 13th. Raymond James raised their target price on Nasdaq from $94.00 to $100.00 and gave the company an outperform rating in a research note on Tuesday, July 10th. Compass Point initiated coverage on Nasdaq in a research report on Friday, June 22nd. They issued a neutral rating and a $100.00 price objective for the company. Finally, Zacks Investment Research lowered Nasdaq from a hold rating to a sell rating in a research report on Wednesday, September 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $93.67.
Shares of NASDAQ:NDAQ opened at $87.68 on Friday. Nasdaq has a twelve month low of $71.65 and a twelve month high of $96.84. The firm has a market capitalization of $14.90 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.96 and a beta of 0.65. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.93 and a quick ratio of 0.93.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a $0.44 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.76 dividend on an annualized basis and a yield of 2.01%. Nasdaq’s payout ratio is 43.35%.
In related news, insider Bradley J. Peterson sold 1,500 shares of Nasdaq stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $93.34, for a total value of $140,010.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Cornerstone Wealth Management LLC bought a new position in Nasdaq during the second quarter worth about $122,000. Piedmont Investment Advisors LLC bought a new position in Nasdaq during the second quarter worth about $125,000. TNB Financial bought a new position in Nasdaq during the second quarter worth about $201,000. GWM Advisors LLC bought a new position in Nasdaq during the second quarter worth about $207,000. Finally, Baird Financial Group Inc. bought a new position in Nasdaq during the first quarter worth about $214,000. Hedge funds and other institutional investors own 75.62% of the company’s stock.
Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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