Intercontinental Exchange, Inc. (NYSE:ICE) Short Interest Up 9.1% in November

Intercontinental Exchange, Inc. (NYSE:ICE) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 7,060,000 shares, a growth of 9.1% from the November 15th total of 6,470,000 shares. Based on an average daily volume of 2,980,000 shares, the short-interest ratio is currently 2.4 days.

Intercontinental Exchange Trading Down 0.4 %

Shares of ICE opened at $154.58 on Tuesday. Intercontinental Exchange has a twelve month low of $122.31 and a twelve month high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $88.76 billion, a P/E ratio of 36.63, a PEG ratio of 2.61 and a beta of 1.08. The firm’s 50-day moving average is $159.80 and its two-hundred day moving average is $153.68.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the company earned $1.46 EPS. The company’s quarterly revenue was up 17.3% on a year-over-year basis. On average, research analysts predict that Intercontinental Exchange will post 6.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ICE has been the topic of several recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Morgan Stanley increased their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Barclays boosted their price objective on shares of Intercontinental Exchange from $173.00 to $187.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group raised their target price 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. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $175.07.

Insider Activity

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 955 shares of Intercontinental Exchange stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the transaction, the general counsel now owns 44,702 shares in the company, valued at approximately $6,977,088.16. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,901 shares of company stock valued at $1,582,542. Insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Large investors have recently bought and sold shares of the company. Toronto Dominion Bank increased its stake in shares of Intercontinental Exchange by 1.6% during the 3rd quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock worth $49,888,000 after purchasing an additional 4,973 shares in the last quarter. GDS Wealth Management grew its holdings in Intercontinental Exchange by 5.3% during the 3rd quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock valued at $16,612,000 after buying an additional 5,226 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in Intercontinental Exchange during the third quarter worth $14,880,000. Main Management ETF Advisors LLC acquired a new position in shares of Intercontinental Exchange in the third quarter worth $873,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Intercontinental Exchange by 6.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 169,270 shares of the financial services provider’s stock worth $27,192,000 after acquiring an additional 10,399 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

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.