Intercontinental Exchange Inc. $ICE Shares Sold by Hahn Capital Management LLC

Hahn Capital Management LLC decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,766 shares of the financial services provider’s stock after selling 3,753 shares during the quarter. Intercontinental Exchange comprises approximately 5.0% of Hahn Capital Management LLC’s holdings, making the stock its 4th largest position. Hahn Capital Management LLC’s holdings in Intercontinental Exchange were worth $9,194,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ICE. MidFirst Bank acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $357,000. Pacer Advisors Inc. raised its stake in Intercontinental Exchange by 11.3% during the 4th quarter. Pacer Advisors Inc. now owns 52,186 shares of the financial services provider’s stock valued at $8,452,000 after purchasing an additional 5,279 shares during the last quarter. Nolet Wealth Management LLC acquired a new position in Intercontinental Exchange during the 4th quarter valued at $358,000. MV Capital Management Inc. acquired a new position in Intercontinental Exchange during the 4th quarter valued at $69,000. Finally, Cambient Family Office LLC bought a new stake in Intercontinental Exchange in the 4th quarter valued at $256,000. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other news, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the sale, the director owned 15,077 shares in the company, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares in the company, valued at approximately $3,945,604.96. The trade was a 9.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 13,425 shares of company stock valued at $2,046,324. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Down 0.6%

Shares of ICE opened at $133.76 on Friday. 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 $75.64 billion, a PE ratio of 19.47, a PEG ratio of 1.29 and a beta of 0.92. Intercontinental Exchange Inc. has a 1 year low of $132.84 and a 1 year high of $189.35. The stock has a 50 day simple moving average of $152.03 and a 200-day simple moving average of $158.77.

Intercontinental Exchange (NYSE:ICE) last announced 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 return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the firm earned $1.72 EPS. Intercontinental Exchange’s quarterly revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ICE. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Piper Sandler reiterated an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. 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 research report on Friday, March 6th. Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Finally, Morgan Stanley upped their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. One research 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $193.00.

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.