Intercontinental Exchange, Inc. (NYSE:ICE) Sees Large Decline in Short Interest

Intercontinental Exchange, Inc. (NYSE:ICE) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 6,420,000 shares, a drop of 9.1% from the November 30th total of 7,060,000 shares. Based on an average daily trading volume, of 3,040,000 shares, the short-interest ratio is currently 2.1 days.

Intercontinental Exchange Stock Down 0.2 %

Shares of NYSE ICE traded down $0.36 during midday trading on Wednesday, hitting $149.01. The stock had a trading volume of 1,562,067 shares, compared to its average volume of 2,615,476. The business’s 50 day moving average is $156.72 and its 200-day moving average is $154.87. Intercontinental Exchange has a 52 week low of $124.34 and a 52 week high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a market cap of $85.56 billion, a P/E ratio of 35.31, a PEG ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 EPS. As a group, analysts predict that Intercontinental Exchange will post 6.07 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on ICE. Piper Sandler increased their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Barclays increased their target price on shares of Intercontinental Exchange from $173.00 to $187.00 and gave the company an “overweight” rating in a report on Monday, December 9th. The Goldman Sachs Group boosted their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. TD Cowen assumed coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. Finally, Bank of America lifted their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.07.

Insider Buying and Selling at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the transaction, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,533 shares of company stock worth $1,196,279. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

Several large investors have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new stake in shares of Intercontinental Exchange in the second quarter worth approximately $25,000. Fairscale Capital LLC purchased a new stake in Intercontinental Exchange in the second quarter worth approximately $25,000. Wolff Wiese Magana LLC grew its position in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter valued at $26,000. Finally, Denver PWM LLC bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at $27,000. 89.30% of the stock is currently owned by institutional investors.

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.