Intercontinental Exchange, Inc. (NYSE:ICE) Sees Significant Decrease in Short Interest

Intercontinental Exchange, Inc. (NYSE:ICE) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 5,300,000 shares, a decline of 19.5% from the February 28th total of 6,580,000 shares. Based on an average daily trading volume, of 3,100,000 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.9% of the shares of the stock are sold short.

Insider Activity at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $165.71, for a total transaction of $965,757.88. Following the completion of the sale, the president now owns 164,041 shares of the company’s stock, valued at $27,183,234.11. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,563 shares of company stock valued at $10,998,990 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

A number of hedge funds have recently added to or reduced their stakes in ICE. Townsquare Capital LLC raised its stake in shares of Intercontinental Exchange by 43.8% during the third quarter. Townsquare Capital LLC now owns 10,335 shares of the financial services provider’s stock valued at $1,660,000 after acquiring an additional 3,147 shares during the last quarter. Northwest & Ethical Investments L.P. raised its position in Intercontinental Exchange by 6.0% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 3,557 shares of the financial services provider’s stock worth $572,000 after purchasing an additional 200 shares during the last quarter. Fred Alger Management LLC bought a new position in Intercontinental Exchange during the 3rd quarter worth $372,000. Edgestream Partners L.P. bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at about $516,000. Finally, Timber Creek Capital Management LLC grew its position in shares of Intercontinental Exchange by 2.6% in the 3rd quarter. Timber Creek Capital Management LLC now owns 37,191 shares of the financial services provider’s stock valued at $5,974,000 after buying an additional 952 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock traded down $0.70 during midday trading on Wednesday, reaching $170.79. The company had a trading volume of 804,544 shares, compared to its average volume of 3,128,819. Intercontinental Exchange has a 1-year low of $124.34 and a 1-year high of $177.45. The stock has a 50 day moving average price of $167.98 and a 200-day moving average price of $160.72. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $98.13 billion, a price-to-earnings ratio of 35.70, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Equities research analysts expect that Intercontinental Exchange will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.12%. Intercontinental Exchange’s payout ratio is currently 40.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. UBS Group boosted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $178.80.

About Intercontinental Exchange

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.