Pallas Capital Advisors LLC Acquires New Holdings in Nasdaq, Inc. $NDAQ

Pallas Capital Advisors LLC bought a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,150 shares of the financial services provider’s stock, valued at approximately $485,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NBC Securities Inc. lifted its stake in shares of Nasdaq by 7.8% in the 4th quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider’s stock valued at $149,000 after acquiring an additional 111 shares during the last quarter. Independent Advisor Alliance grew its position in Nasdaq by 2.6% during the 4th quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider’s stock worth $444,000 after acquiring an additional 117 shares during the last quarter. Quantum Portfolio Management LLC grew its position in Nasdaq by 1.8% during the 1st quarter. Quantum Portfolio Management LLC now owns 7,144 shares of the financial services provider’s stock worth $606,000 after acquiring an additional 123 shares during the last quarter. Avidian Wealth Enterprises LLC increased its holdings in Nasdaq by 5.2% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 2,713 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 133 shares in the last quarter. Finally, Fielder Capital Group LLC increased its holdings in Nasdaq by 3.1% in the 4th quarter. Fielder Capital Group LLC now owns 4,571 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 137 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $92.61, for a total value of $1,203,930.00. Following the completion of the sale, the executive vice president owned 128,293 shares of the company’s stock, valued at approximately $11,881,214.73. This trade represents a 9.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Pc Nelson Griggs sold 11,010 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $96.35, for a total value of $1,060,813.50. Following the sale, the insider owned 205,001 shares of the company’s stock, valued at approximately $19,751,846.35. This represents a 5.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 41,797 shares of company stock valued at $3,926,319. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

NDAQ has been the topic of a number of recent research reports. Rothschild & Co Redburn set a $110.00 price target on Nasdaq in a research note on Thursday, June 11th. Barclays reaffirmed an “overweight” rating and issued a $111.00 price objective (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a report on Monday, July 20th. Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Finally, Zacks Research raised shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $110.30.

Nasdaq Price Performance

Shares of NASDAQ NDAQ opened at $96.35 on Thursday. The firm’s 50-day moving average price is $89.45 and its 200-day moving average price is $87.96. Nasdaq, Inc. has a 1-year low of $76.55 and a 1-year high of $101.79. The firm has a market capitalization of $53.86 billion, a P/E ratio of 28.09, a P/E/G ratio of 1.30 and a beta of 0.97. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the business posted $0.85 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities research analysts anticipate that Nasdaq, Inc. will post 4.15 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 annualized dividend and a yield of 1.3%. Nasdaq’s dividend payout ratio is presently 36.15%.

About Nasdaq

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.