Short Interest in Intercontinental Exchange, Inc. (NYSE:ICE) Increases By 6.1%

Intercontinental Exchange, Inc. (NYSE:ICE) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 6,250,000 shares, a growth of 6.1% from the August 15th total of 5,890,000 shares. Based on an average daily volume of 2,720,000 shares, the days-to-cover ratio is currently 2.3 days.

Intercontinental Exchange Stock Down 1.0 %

NYSE:ICE traded down $1.59 during trading hours on Wednesday, hitting $161.22. The stock had a trading volume of 2,755,005 shares, compared to its average volume of 2,468,326. The business has a 50 day simple moving average of $155.02 and a two-hundred day simple moving average of $142.35. Intercontinental Exchange has a 1-year low of $104.49 and a 1-year high of $163.71. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a market cap of $92.47 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 EPS. Analysts predict that Intercontinental Exchange will post 6.04 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their price target for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Citigroup lifted their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Argus restated a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $156.36.

Insider Buying and Selling

In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the transaction, the chief technology officer now directly owns 64,471 shares in the company, valued at $9,098,792.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares in the company, valued at approximately $9,098,792.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the sale, the chief executive officer now owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. The disclosure for this sale can be found here. Insiders sold 67,096 shares of company stock worth $9,593,983 in the last three months. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Hedge funds have recently bought and sold shares of the business. Fairscale Capital LLC bought a new position in Intercontinental Exchange during the 2nd quarter valued at $25,000. Annapolis Financial Services LLC increased its position in shares of Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the period. New Millennium Group LLC bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at about $25,000. International Assets Investment Management LLC acquired a new position in Intercontinental Exchange in the second quarter worth approximately $25,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the first quarter worth $26,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

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.