Harvest Fund Management Co. Ltd Makes New Investment in Nasdaq, Inc. (NASDAQ:NDAQ)

Harvest Fund Management Co. Ltd bought a new position in Nasdaq, Inc. (NASDAQ:NDAQ) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,646 shares of the financial services provider’s stock, valued at approximately $339,000.

Other hedge funds also recently made changes to their positions in the company. Citizens Financial Group Inc. RI lifted its position in Nasdaq by 3.6% during the third quarter. Citizens Financial Group Inc. RI now owns 3,975 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 137 shares during the last quarter. First Pacific Financial raised its position in Nasdaq by 1.0% during the third quarter. First Pacific Financial now owns 13,842 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 142 shares during the period. Crestwood Advisors Group LLC boosted its stake in Nasdaq by 4.2% during the third quarter. Crestwood Advisors Group LLC now owns 3,670 shares of the financial services provider’s stock worth $268,000 after buying an additional 149 shares during the period. Kentucky Retirement Systems raised its position in Nasdaq by 0.5% in the 3rd quarter. Kentucky Retirement Systems now owns 28,828 shares of the financial services provider’s stock worth $2,105,000 after purchasing an additional 154 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Nasdaq by 2.5% during the third quarter. Signaturefd LLC now owns 6,584 shares of the financial services provider’s stock valued at $481,000 after buying an additional 162 shares during the period. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Stock Up 1.4 %

Nasdaq stock opened at $82.65 on Wednesday. The business has a fifty day moving average price of $75.27 and a 200-day moving average price of $68.30. Nasdaq, Inc. has a 1-year low of $53.62 and a 1-year high of $83.04. The stock has a market capitalization of $47.50 billion, a price-to-earnings ratio of 49.49, a PEG ratio of 3.16 and a beta of 0.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.17 billion. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 earnings per share. Equities research analysts forecast that Nasdaq, Inc. will post 2.79 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.96 dividend on an annualized basis and a yield of 1.16%. Nasdaq’s dividend payout ratio (DPR) is 57.49%.

Insider Buying and Selling

In related news, EVP Jeremy Skule sold 12,075 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $78.75, for a total transaction of $950,906.25. Following the sale, the executive vice president now directly owns 102,505 shares of the company’s stock, valued at $8,072,268.75. This trade represents a 10.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pc Nelson Griggs sold 5,742 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $77.34, for a total value of $444,086.28. Following the completion of the transaction, the insider now directly owns 205,821 shares of the company’s stock, valued at $15,918,196.14. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,459 shares of company stock valued at $3,811,808 over the last quarter. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays increased their price target on Nasdaq from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Bank of America lowered their target price on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. TD Cowen cut their price target on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Oppenheimer lifted their price objective on shares of Nasdaq from $84.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, StockNews.com raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Nasdaq currently has a consensus rating of “Moderate Buy” and an average target price of $80.87.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.