IntercontinentalExchange Group Inc. (ICE) Short Interest Up 513.8% in November
IntercontinentalExchange Group Inc. (NYSE:ICE) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 6,016,395 shares, an increase of 513.8% from the October 31st total of 980,152 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average trading volume of 3,754,530 shares, the days-to-cover ratio is presently 1.6 days.
In other news, insider Thomas W. Farley sold 1,900 shares of IntercontinentalExchange Group stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $283.03, for a total transaction of $537,757.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 25,275 shares of IntercontinentalExchange Group stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $270.49, for a total value of $6,836,634.75. Following the sale, the chief executive officer now directly owns 313,445 shares in the company, valued at $84,783,738.05. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICE. D. Scott Neal Inc. raised its position in shares of IntercontinentalExchange Group by 100.0% in the second quarter. D. Scott Neal Inc. now owns 400 shares of the company’s stock worth $102,000 after buying an additional 200 shares in the last quarter. Point72 Asia Hong Kong Ltd bought a new position in shares of IntercontinentalExchange Group during the second quarter worth approximately $102,000. LSV Asset Management bought a new position in shares of IntercontinentalExchange Group during the second quarter worth approximately $116,000. Johnson Financial Group Inc. raised its position in shares of IntercontinentalExchange Group by 225.0% in the second quarter. Johnson Financial Group Inc. now owns 468 shares of the company’s stock worth $120,000 after buying an additional 324 shares in the last quarter. Finally, WFG Advisors LP raised its position in shares of IntercontinentalExchange Group by 23.8% in the second quarter. WFG Advisors LP now owns 618 shares of the company’s stock worth $158,000 after buying an additional 119 shares in the last quarter. 17.77% of the stock is owned by hedge funds and other institutional investors.
IntercontinentalExchange Group (NYSE:ICE) opened at 55.40 on Thursday. The firm has a market capitalization of $6.37 billion, a P/E ratio of 22.70 and a beta of 0.93. The stock’s 50 day moving average price is $54.20 and its 200 day moving average price is $53.82. IntercontinentalExchange Group has a 12 month low of $45.44 and a 12 month high of $58.70.
IntercontinentalExchange Group (NYSE:ICE) last released its earnings results on Tuesday, November 1st. The company reported $3.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.22 by $0.01. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. IntercontinentalExchange Group had a return on equity of 10.57% and a net margin of 25.29%. The firm’s revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.91 EPS. On average, analysts forecast that IntercontinentalExchange Group will post $2.74 earnings per share for the current year.
ICE has been the topic of a number of analyst reports. Deutsche Bank AG lifted their target price on IntercontinentalExchange Group from $59.00 to $60.80 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Barclays PLC reiterated an “overweight” rating and issued a $61.40 price target (up from $59.00) on shares of IntercontinentalExchange Group in a research note on Thursday, August 11th. Jefferies Group lifted their price target on IntercontinentalExchange Group from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, October 11th. Keefe, Bruyette & Woods lifted their price target on IntercontinentalExchange Group from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, August 4th. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $56.40 price target (up from $51.00) on shares of IntercontinentalExchange Group in a research note on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.47.
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IntercontinentalExchange Group Company Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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