Park Place Capital Corp Sells 76 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Park Place Capital Corp cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 10.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 655 shares of the financial services provider’s stock after selling 76 shares during the quarter. Park Place Capital Corp’s holdings in Intercontinental Exchange were worth $105,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ICE. Scarborough Advisors LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $25,000. Annapolis Financial Services LLC raised its holdings 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 worth $25,000 after acquiring an additional 163 shares in the last quarter. New Millennium Group LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $25,000. Finally, Fairscale Capital LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $25,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Trading Up 1.6 %

Shares of NYSE ICE opened at $162.09 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $92.97 billion, a P/E ratio of 37.18, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $164.18. The business has a fifty day moving average price of $158.32 and a 200 day moving average price of $144.63.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the business posted $1.43 earnings per share. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. Equities research analysts expect that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the sale, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at $2,675,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 transaction of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares in the company, valued at approximately $2,675,400. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,532 shares of company stock worth $1,507,309 over the last three months. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. The Goldman Sachs Group boosted their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their price objective on Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays upped their price objective on Intercontinental Exchange from $167.00 to $179.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Citigroup upped their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $170.67.

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.