BW Gestao de Investimentos Ltda. Buys New Stake in Intercontinental Exchange Inc. $ICE

Key Points

• BW Gestao de Investimentos Ltda. opened a new position in Intercontinental Exchange, buying 74,067 shares worth about $12.0 million in the fourth quarter.
• Insider selling was reported, with Director Sharon Bowen and General Counsel Andrew J. Surdykowski both trimming holdings; insiders have sold 12,001 shares worth $1.85 million over the last 90 days.
• Intercontinental Exchange beat quarterly expectations, reporting EPS of $2.35 versus $2.23 expected and revenue of $3.67 billion, while analysts maintain an overall Buy rating and a consensus target price of $194.60.

BW Gestao de Investimentos Ltda. purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 74,067 shares of the financial services provider's stock, valued at approximately $11,996,000.

A number of other large investors have also recently bought and sold shares of ICE. Brighton Jones LLC boosted its holdings in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after acquiring an additional 1,169 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider's stock valued at $2,483,000 after acquiring an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider's stock valued at $381,000 after acquiring an additional 289 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider's stock valued at $3,892,000 after purchasing an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Intercontinental Exchange by 2.4% in the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider's stock valued at $48,894,000 after purchasing an additional 6,373 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the sale, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the transaction, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 12,001 shares of company stock valued at $1,847,820 in the last ninety days. Corporate insiders own 0.84% of the company's stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $145.23 on Tuesday. Intercontinental Exchange Inc. has a twelve month low of $143.01 and a twelve month high of $189.35. The stock has a market capitalization of $82.13 billion, a P/E ratio of 21.14, a PEG ratio of 1.38 and a beta of 0.92. 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 business's fifty day moving average price is $157.12 and its 200 day moving average price is $160.10.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. Intercontinental Exchange's revenue for the quarter was up 20.4% on a year-over-year basis. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. TD Cowen reiterated a "buy" rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective for the company in a research note on Friday, March 6th. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. Barclays reiterated an "overweight" rating and issued a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $194.60.

Intercontinental Exchange Profile

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.

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