Bain Capital Public Equity LP Makes New Investment in Intercontinental Exchange Inc. $ICE

Bain Capital Public Equity LP acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,411 shares of the financial services provider’s stock, valued at approximately $1,038,000. Intercontinental Exchange makes up 0.6% of Bain Capital Public Equity LP’s portfolio, making the stock its 4th largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new position in Intercontinental Exchange during the 4th quarter worth $25,000. Holos Integrated Wealth LLC acquired a new position in Intercontinental Exchange during the 4th quarter worth $28,000. Steph & Co. grew its holdings in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Brooklands Fund Management Ltd acquired a new position in Intercontinental Exchange during the 4th quarter worth $28,000. Finally, Swiss RE Ltd. acquired a new position in Intercontinental Exchange during the 4th quarter worth $28,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Up 0.6%

NYSE ICE opened at $140.95 on Wednesday. Intercontinental Exchange Inc. has a one year low of $136.67 and a one year high of $189.35. The company has a 50-day simple moving average of $153.32 and a 200-day simple moving average of $159.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $79.71 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the business posted $1.72 EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. UBS Group reissued a “buy” rating and set a $205.00 price objective on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a report on Friday, March 6th. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Piper Sandler reissued an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Finally, Barclays reissued an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $193.00.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the transaction, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 13,425 shares of company stock worth $2,046,324. Corporate insiders own 0.84% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.