Seven Eight Capital LP Trims Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Seven Eight Capital LP decreased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 68.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,096 shares of the financial services provider’s stock after selling 19,670 shares during the quarter. Seven Eight Capital LP’s holdings in Intercontinental Exchange were worth $1,245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Annapolis Financial Services LLC boosted its holdings in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 163 shares during the last quarter. New Millennium Group LLC bought a new position in Intercontinental Exchange in the second quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter worth $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Intercontinental Exchange during the 1st quarter valued at $26,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth $25,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares in the company, valued at $6,397,737.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,096 shares of company stock worth $9,593,983. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ICE. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Barclays raised their target price on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Finally, Citigroup raised their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.08.

Intercontinental Exchange Trading Down 1.5 %

Shares of Intercontinental Exchange stock opened at $158.87 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market cap of $91.13 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $163.71. The business has a 50-day moving average price of $155.59 and a 200-day moving average price of $142.60.

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