Redwood Investments LLC Takes Position in Nasdaq Inc. (NDAQ)
Redwood Investments LLC acquired a new position in shares of Nasdaq Inc. (NASDAQ:NDAQ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 230,927 shares of the company’s stock, valued at approximately $14,934,000. Redwood Investments LLC owned approximately 0.14% of Nasdaq as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the stock. IFP Advisors Inc increased its stake in shares of Nasdaq by 4.6% in the first quarter. IFP Advisors Inc now owns 3,114 shares of the company’s stock worth $207,000 after buying an additional 137 shares in the last quarter. Arizona State Retirement System increased its stake in Nasdaq by 0.6% in the first quarter. Arizona State Retirement System now owns 31,075 shares of the company’s stock worth $2,063,000 after buying an additional 200 shares during the period. Conning Inc. increased its stake in Nasdaq by 5.2% in the second quarter. Conning Inc. now owns 4,036 shares of the company’s stock worth $261,000 after buying an additional 200 shares during the period. Eagle Boston Investment Management Inc. increased its stake in Nasdaq by 0.7% in the second quarter. Eagle Boston Investment Management Inc. now owns 32,843 shares of the company’s stock worth $2,123,000 after buying an additional 225 shares during the period. Finally, Genesee Valley Trust Co. increased its stake in Nasdaq by 2.4% in the second quarter. Genesee Valley Trust Co. now owns 10,286 shares of the company’s stock worth $665,000 after buying an additional 243 shares during the period. 74.20% of the stock is owned by institutional investors and hedge funds.
Nasdaq Inc. (NASDAQ:NDAQ) traded down 0.73% during trading on Monday, hitting $67.05. The stock had a trading volume of 995,824 shares. The company has a market cap of $11.09 billion, a PE ratio of 23.22 and a beta of 0.81. Nasdaq Inc. has a 52 week low of $52.75 and a 52 week high of $71.92. The stock has a 50-day moving average price of $69.95 and a 200-day moving average price of $66.61.
Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Wednesday, July 27th. The company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.03. The firm had revenue of $559 million for the quarter, compared to the consensus estimate of $548 million. Nasdaq had a net margin of 13.79% and a return on equity of 10.76%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 earnings per share. Equities analysts predict that Nasdaq Inc. will post $3.71 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Wednesday, September 14th. Nasdaq’s dividend payout ratio is currently 44.44%.
A number of equities research analysts have issued reports on NDAQ shares. Barclays PLC downgraded Nasdaq to an “overweight” rating and boosted their price target for the company from $79.00 to $80.00 in a research report on Thursday, September 8th. Evercore ISI downgraded Nasdaq from a “buy” rating to a “hold” rating and decreased their target price for the stock from $69.00 to $68.00 in a research report on Tuesday, July 5th. Deutsche Bank AG upped their target price on Nasdaq from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Keefe, Bruyette & Woods upped their target price on Nasdaq from $70.00 to $74.00 and gave the stock a “market perform” rating in a research report on Thursday, July 28th. Finally, Jefferies Group upped their target price on Nasdaq from $58.00 to $68.00 and gave the stock a “hold” rating in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $69.67.
In other news, insider Edward S. Knight sold 19,555 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $70.40, for a total value of $1,376,672.00. Following the sale, the insider now directly owns 76,407 shares of the company’s stock, valued at $5,379,052.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Pc Nelson Griggs sold 2,945 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $71.52, for a total value of $210,626.40. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
Nasdaq, Inc (Nasdaq), formerly The NASDAQ OMX Group, Inc, is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across approximately six continents. The Company manages, operates and provides its products and services through four segments: Market Services, Listing Services, Information Services and Technology Solutions.
Receive News & Stock Ratings for Nasdaq Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nasdaq Inc. and related stocks with our FREE daily email newsletter.