Townsquare Capital LLC Acquires 3,147 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Townsquare Capital LLC increased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 43.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,335 shares of the financial services provider’s stock after purchasing an additional 3,147 shares during the quarter. Townsquare Capital LLC’s holdings in Intercontinental Exchange were worth $1,660,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its holdings in shares of Intercontinental Exchange by 819.7% during the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after acquiring an additional 122,169 shares during the period. BDF Gestion acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $2,849,000. Burke & Herbert Bank & Trust Co. bought a new stake in shares of Intercontinental Exchange in the second quarter valued at about $1,366,000. Blue Trust Inc. boosted its position in shares of Intercontinental Exchange by 312.4% during the second quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider’s stock worth $712,000 after buying an additional 3,924 shares during the period. Finally, GDS Wealth Management grew its holdings in shares of Intercontinental Exchange by 5.3% during the third quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock worth $16,612,000 after buying an additional 5,226 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $160.96 on Monday. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99. The firm has a market capitalization of $92.42 billion, a price-to-earnings ratio of 38.14, a P/E/G ratio of 2.66 and a beta of 1.08. The stock’s 50 day moving average price is $160.62 and its two-hundred day moving average price is $152.07. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the business earned $1.46 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity

In other news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $76,195.08. Following the transaction, the chief operating officer now owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the sale, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,696 shares of company stock valued at $1,554,559 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

About Intercontinental Exchange

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.