Intercontinental Exchange, Inc. (NYSE:ICE) Short Interest Update

Intercontinental Exchange, Inc. (NYSE:ICE) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 7,060,000 shares, a growth of 9.1% from the November 15th total of 6,470,000 shares. Based on an average daily trading volume, of 2,980,000 shares, the short-interest ratio is presently 2.4 days.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of recent research reports. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a report on Monday, October 14th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, December 5th. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Bank of America increased their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $175.07.

Insider Activity at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the sale, the insider now owns 14,034 shares in the company, valued at $2,284,875.54. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,901 shares of company stock valued at $1,582,542 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ICE. Quintet Private Bank Europe S.A. boosted its holdings in shares of Intercontinental Exchange by 13.8% in the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 62 shares during the period. Raleigh Capital Management Inc. lifted its holdings in Intercontinental Exchange by 26.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 63 shares in the last quarter. Integrated Advisors Network LLC boosted its stake in Intercontinental Exchange by 4.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 66 shares during the period. American National Bank grew its holdings in Intercontinental Exchange by 13.8% during the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after buying an additional 69 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its position in shares of Intercontinental Exchange by 6.2% during the third quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after buying an additional 70 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 0.4 %

ICE stock opened at $154.58 on Tuesday. The stock has a fifty day moving average of $159.80 and a 200-day moving average of $153.68. Intercontinental Exchange has a fifty-two week low of $122.31 and a fifty-two week high of $167.99. The company has a market capitalization of $88.76 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 2.61 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business earned $1.46 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, equities research analysts predict that Intercontinental Exchange will post 6.07 earnings per share for the current year.

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.