Otter Creek Advisors LLC Purchases 5,000 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Otter Creek Advisors LLC lifted its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 43.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,436 shares of the financial services provider’s stock after purchasing an additional 5,000 shares during the period. Otter Creek Advisors LLC’s holdings in Intercontinental Exchange were worth $2,640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wolff Wiese Magana LLC lifted its stake in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Intercontinental Exchange in the third quarter worth approximately $26,000. Financial Management Professionals Inc. lifted its stake in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 87 shares during the period. Fairscale Capital LLC acquired a new position in shares of Intercontinental Exchange in the second quarter worth approximately $25,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Intercontinental Exchange in the third quarter worth approximately $29,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Up 1.9 %

Shares of NYSE:ICE opened at $158.70 on Friday. The company has a market capitalization of $91.13 billion, a PE ratio of 37.61, a price-to-earnings-growth ratio of 2.61 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day moving average price of $160.68 and a two-hundred day moving average price of $150.72. Intercontinental Exchange, Inc. has a 1 year low of $111.82 and a 1 year high of $167.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. Analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Judith A. Sprieser sold 1,941 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total value of $311,899.29. Following the completion of the sale, the director now directly owns 26,908 shares in the company, valued at approximately $4,323,846.52. The trade was a 6.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,809 shares of company stock valued at $933,978 in the last 90 days. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

ICE has been the topic of several recent analyst reports. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. 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 Friday, November 1st. Bank of America boosted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Piper Sandler boosted their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.13.

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.