Tower Research Capital LLC TRC Takes $383,000 Position in Nasdaq Inc (NDAQ)
Tower Research Capital LLC TRC acquired a new stake in Nasdaq Inc (NASDAQ:NDAQ) in the 2nd quarter, Holdings Channel reports. The fund acquired 4,203 shares of the financial services provider’s stock, valued at approximately $383,000.
Other hedge funds also recently modified their holdings of the company. Cornerstone Wealth Management LLC acquired a new position in shares of Nasdaq in the 2nd quarter valued at about $122,000. Piedmont Investment Advisors LLC acquired a new position in shares of Nasdaq in the 2nd quarter valued at about $125,000. TNB Financial acquired a new position in shares of Nasdaq in the 2nd quarter valued at about $201,000. GWM Advisors LLC acquired a new position in shares of Nasdaq in the 2nd quarter valued at about $207,000. Finally, Baird Financial Group Inc. acquired a new position in shares of Nasdaq in the 1st quarter valued at about $214,000. 75.62% of the stock is owned by institutional investors and hedge funds.
In related news, insider Bradley J. Peterson sold 1,500 shares of the company’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company’s stock.
Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.01. The company had revenue of $615.00 million during the quarter, compared to analysts’ expectations of $620.25 million. Nasdaq had a return on equity of 13.40% and a net margin of 18.13%. Nasdaq’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 EPS. equities research analysts expect that Nasdaq Inc will post 4.82 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued 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 2.04%. Nasdaq’s payout ratio is 43.35%.
NDAQ has been the subject of several analyst reports. Citigroup boosted their price objective on Nasdaq from $89.00 to $95.00 and gave the company a “$95.59” rating in a report on Wednesday, July 18th. Wells Fargo & Co reissued a “buy” rating and issued a $104.00 price objective on shares of Nasdaq in a report on Friday, June 22nd. Zacks Investment Research raised Nasdaq from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a report on Tuesday, June 12th. BidaskClub cut Nasdaq from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 27th. Finally, UBS Group upped their price target on Nasdaq from $101.00 to $107.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $93.67.
Nasdaq Company Profile
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.
See Also: Return on Equity (ROE)
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