Bain Capital Public Equity LP Takes $2.22 Million Position in Intercontinental Exchange Inc. $ICE

Key Points

• Bain Capital Public Equity LP has acquired a new stake in Intercontinental Exchange Inc. worth approximately $2.22 million, making it the firm's 13th largest position.
• Recent changes in institutional holdings include significant increases by REAP Financial Group LLC (up 116.7%) and Tsfg LLC (up 187.3%), reflecting strong institutional interest in the company.
• Intercontinental Exchange's CEO sold 150,000 shares for over $27 million, marking a 7.14% decrease in his ownership, as the company also reported a quarterly EPS of $1.81, exceeding estimates.

Bain Capital Public Equity LP acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,848 shares of the financial services provider's stock, valued at approximately $2,216,000. Intercontinental Exchange accounts for 2.4% of Bain Capital Public Equity LP's holdings, making the stock its 13th biggest holding.

Several other hedge funds have also added to or reduced their stakes in ICE. Tsfg LLC lifted its holdings in shares of Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares in the last quarter. Activest Wealth Management increased its position in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock worth $29,000 after buying an additional 162 shares during the last quarter. Rakuten Securities Inc. boosted its position in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after purchasing an additional 143 shares during the period. REAP Financial Group LLC boosted its position in Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after purchasing an additional 91 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Intercontinental Exchange in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the sale, the general counsel directly owned 46,293 shares in the company, valued at approximately $8,255,430.69. This trade represents a 7.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martha A. Tirinnanzi sold 610 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $179.76, for a total value of $109,653.60. Following the sale, the director owned 3,519 shares of the company's stock, valued at approximately $632,575.44. The trade was a 14.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 227,830 shares of company stock worth $41,668,789. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Trading Down 0.2%

NYSE:ICE traded down $0.26 during trading hours on Friday, hitting $174.26. 3,104,192 shares of the company were exchanged, compared to its average volume of 2,714,532. The stock has a market capitalization of $99.75 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The company has a fifty day simple moving average of $181.49 and a 200 day simple moving average of $174.83.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.52 EPS. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ICE has been the topic of several research reports. Barclays upped their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Piper Sandler upped their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and an average target price of $194.92.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.