Friedenthal Financial Acquires New Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Friedenthal Financial bought a new position in Intercontinental Exchange, Inc. (NYSE:ICE) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,119 shares of the financial services provider’s stock, valued at approximately $822,000.

Other hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in Intercontinental Exchange by 819.7% during the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after acquiring an additional 122,169 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Intercontinental Exchange by 7.0% in the first quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider’s stock worth $43,617,000 after buying an additional 20,802 shares during the last quarter. Mission Wealth Management LP purchased a new stake in Intercontinental Exchange during the first quarter valued at approximately $866,000. Lloyd Advisory Services LLC. increased its holdings in Intercontinental Exchange by 610.7% during the first quarter. Lloyd Advisory Services LLC. now owns 12,885 shares of the financial services provider’s stock valued at $1,771,000 after buying an additional 11,072 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in Intercontinental Exchange by 200.2% in the first quarter. UniSuper Management Pty Ltd now owns 14,459 shares of the financial services provider’s stock worth $1,987,000 after acquiring an additional 9,642 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 1.2 %

ICE opened at $166.83 on Friday. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $167.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a 50-day simple moving average of $160.55 and a two-hundred day simple moving average of $146.20. The company has a market capitalization of $95.69 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 EPS. Analysts forecast that Intercontinental Exchange, Inc. will post 6.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent research reports. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, October 3rd. Piper Sandler upped their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Citigroup lifted their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. TD Cowen started coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $172.80.

Insider Buying and Selling at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares in the company, valued at $2,675,400. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,532 shares of company stock worth $1,358,709 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Company Profile

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.