City Center Advisors LLC Lowers Position in Nasdaq, Inc. (NASDAQ:NDAQ)

City Center Advisors LLC lowered its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 27.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,178 shares of the financial services provider’s stock after selling 1,200 shares during the period. City Center Advisors LLC’s holdings in Nasdaq were worth $232,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NDAQ. Y.D. More Investments Ltd raised its holdings in shares of Nasdaq by 94.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after buying an additional 202 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in Nasdaq by 89.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 201 shares during the period. Hobbs Group Advisors LLC purchased a new position in Nasdaq in the 2nd quarter worth approximately $26,000. LRI Investments LLC purchased a new position in Nasdaq in the 1st quarter worth approximately $31,000. Finally, Crewe Advisors LLC grew its position in shares of Nasdaq by 164.4% in the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock worth $30,000 after buying an additional 314 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Insider Transactions at Nasdaq

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the sale, the insider now directly owns 42,804,207 shares in the company, valued at approximately $2,764,295,688.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NDAQ shares. TD Cowen began coverage on Nasdaq in a research report on Thursday, September 26th. They issued a “hold” rating and a $83.00 price objective on the stock. The Goldman Sachs Group lifted their price target on Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Bank of America dropped their price target on Nasdaq from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Piper Sandler lifted their price objective on Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Oppenheimer lifted their price objective on Nasdaq from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $76.73.

Nasdaq Trading Up 1.9 %

Shares of NDAQ stock opened at $72.19 on Wednesday. Nasdaq, Inc. has a 1 year low of $47.56 and a 1 year high of $74.88. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $71.04 and its two-hundred day simple moving average is $64.68. The company has a market cap of $41.52 billion, a PE ratio of 37.99, a price-to-earnings-growth ratio of 3.04 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. Research analysts predict that Nasdaq, Inc. will post 2.75 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.24 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.33%. Nasdaq’s payout ratio is 50.53%.

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.