Investors Sell Intercontinental Exchange Inc. (ICE) on Strength (ICE)

Investors sold shares of Intercontinental Exchange Inc. (NYSE:ICE) on strength during trading hours on Tuesday. $49.26 million flowed into the stock on the tick-up and $84.72 million flowed out of the stock on the tick-down, for a money net flow of $35.46 million out of the stock. Of all equities tracked, Intercontinental Exchange had the 23rd highest net out-flow for the day. Intercontinental Exchange traded up $0.84 for the day and closed at $66.10

Several equities analysts have recently weighed in on ICE shares. Barclays PLC increased their price objective on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. Jefferies Group LLC reiterated a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday, August 23rd. Zacks Investment Research cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Citigroup Inc. initiated coverage on shares of Intercontinental Exchange in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $73.00 target price on shares of Intercontinental Exchange in a report on Sunday, October 8th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $72.33.

The stock has a 50 day moving average of $67.53 and a 200-day moving average of $64.52. The stock has a market capitalization of $7.60 billion, a P/E ratio of 24.49 and a beta of 0.74.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the company posted $0.69 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts predict that Intercontinental Exchange Inc. will post $2.95 earnings per share for the current fiscal year.

In other Intercontinental Exchange news, CFO Scott A. Hill sold 37,630 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $70.03, for a total value of $2,635,228.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charles A. Vice sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $66.93, for a total value of $836,625.00. Following the completion of the transaction, the insider now directly owns 382,471 shares of the company’s stock, valued at $25,598,784.03. The disclosure for this sale can be found here. Insiders sold 155,550 shares of company stock valued at $10,394,455 over the last three months. 1.50% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Thompson Davis & CO. Inc. lifted its holdings in Intercontinental Exchange by 2.2% in the second quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 32 shares during the period. IHT Wealth Management LLC lifted its holdings in Intercontinental Exchange by 10.8% in the second quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 18 shares during the period. Norway Savings Bank lifted its holdings in Intercontinental Exchange by 16.7% in the second quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 235 shares during the period. Bessemer Group Inc. lifted its holdings in Intercontinental Exchange by 186.5% in the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,240 shares during the period. Finally, Shine Investment Advisory Services Inc. acquired a new position in Intercontinental Exchange in the second quarter valued at approximately $128,000. 89.82% of the stock is owned by institutional investors.

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Intercontinental Exchange Company Profile

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

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