Mattern Capital Management LLC Decreases Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Mattern Capital Management LLC trimmed its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,313 shares of the financial services provider’s stock after selling 304 shares during the quarter. Mattern Capital Management LLC’s holdings in Intercontinental Exchange were worth $8,393,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at $25,000. Annapolis Financial Services LLC grew its holdings in shares of Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares during the last quarter. New Millennium Group LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter worth about $25,000. International Assets Investment Management LLC purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $25,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Intercontinental Exchange in the 1st quarter valued at about $26,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $162.43 on Thursday. 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 stock has a 50 day simple moving average of $151.12 and a 200-day simple moving average of $140.84. The company has a market cap of $93.26 billion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 2.84 and a beta of 1.06. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $162.76.

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 the consensus estimate of $1.49 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.43 earnings per share. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

Insider Buying and Selling

In other news, 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 completion of the sale, the chief executive officer now directly owns 1,179,993 shares in the company, valued at approximately $167,181,408.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the completion of the transaction, the chief executive officer now owns 1,179,993 shares in the company, valued at $167,181,408.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Judith A. Sprieser sold 1,941 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the completion of the sale, the director now owns 26,908 shares in the company, valued at $4,323,846.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,346 shares of company stock valued at $9,472,911. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ICE. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, August 29th. Citigroup lifted their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Argus reiterated a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.93.

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.