Intercontinental Exchange, Inc. (NYSE:ICE) Short Interest Up 8.8% in June

Intercontinental Exchange, Inc. (NYSE:ICE) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 4,680,000 shares, an increase of 8.8% from the May 31st total of 4,300,000 shares. Based on an average daily volume of 2,250,000 shares, the days-to-cover ratio is presently 2.1 days.

Insider Transactions at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,267 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total transaction of $305,070.19. Following the sale, the director now owns 28,849 shares of the company’s stock, valued at $3,882,209.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Judith A. Sprieser sold 2,267 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total transaction of $305,070.19. Following the sale, the director now owns 28,849 shares of the company’s stock, valued at $3,882,209.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the sale, the general counsel now directly owns 46,815 shares in the company, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. Insiders have sold a total of 4,506 shares of company stock valued at $609,374 over the last 90 days. 1.10% of the stock is owned by company insiders.

Institutional Trading of Intercontinental Exchange

Institutional investors have recently added to or reduced their stakes in the company. Annapolis Financial Services LLC raised its holdings in Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 163 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Intercontinental Exchange in the 1st quarter valued at $26,000. Scarborough Advisors LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at $25,000. Venturi Wealth Management LLC raised its holdings in Intercontinental Exchange by 82.3% in the 1st quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 93 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at $28,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $141.14 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange has a 12 month low of $104.49 and a 12 month high of $141.59. The stock has a 50 day moving average of $134.79 and a 200-day moving average of $133.12. The company has a market capitalization of $80.96 billion, a P/E ratio of 32.37, a P/E/G ratio of 2.55 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting the consensus estimate of $1.48. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. As a group, equities research analysts predict that Intercontinental Exchange will post 5.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods dropped their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Tuesday. Argus reissued a “buy” rating and issued a $153.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Bank of America dropped their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their target price for the company from $143.00 to $167.00 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $151.29.

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.