Intercontinental Exchange (NYSE:ICE) Hits New 1-Year Low – Should You Sell?

Intercontinental Exchange Inc. (NYSE:ICE)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $128.33 and last traded at $129.5590, with a volume of 166422 shares traded. The stock had previously closed at $130.02.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ICE shares. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Barclays reiterated an “overweight” rating and issued a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a report on Friday, March 6th. Piper Sandler restated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Finally, Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $189.36.

Intercontinental Exchange Stock Performance

The firm has a fifty day simple moving average of $149.49 and a 200-day simple moving average of $158.07. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market cap of $72.30 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 1.28 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the company earned $1.72 EPS. Analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director directly owned 15,077 shares in the company, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. This trade represents a 6.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Several large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in shares of Intercontinental Exchange by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after acquiring an additional 10,742 shares during the period. Walter Public Investments Inc. grew its holdings in Intercontinental Exchange by 13.8% during the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock valued at $20,244,000 after purchasing an additional 15,129 shares during the period. Vanguard Group Inc. grew its holdings in Intercontinental Exchange by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares during the period. Cyndeo Wealth Partners LLC increased its stake in Intercontinental Exchange by 857.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 11,655 shares of the financial services provider’s stock valued at $1,888,000 after purchasing an additional 10,438 shares in the last quarter. Finally, OFI Invest Asset Management increased its stake in Intercontinental Exchange by 51,986.3% in the fourth quarter. OFI Invest Asset Management now owns 400,544 shares of the financial services provider’s stock valued at $64,872,000 after purchasing an additional 399,775 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

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.