Carlson Capital L.P. Acquires Shares of 19,700 Nasdaq, Inc. $NDAQ

Key Points

• Carlson Capital acquired 19,700 Nasdaq shares worth approximately $1.67 million, while institutional investors collectively own 72.47% of NDAQ.
• Analysts remain bullish, with the stock carrying a consensus “Buy” rating and an average price target of $109.73. Recent targets range from $105 to $120.
• Nasdaq reported quarterly EPS of $1.07, beating estimates by $0.09, while revenue rose 14.9% year over year to $2.53 billion. The company also declared a quarterly dividend of $0.31 per share, implying a 1.3% annual yield.

Carlson Capital L.P. bought a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 19,700 shares of the financial services provider's stock, valued at approximately $1,672,000.

A number of other hedge funds also recently made changes to their positions in NDAQ. MV Capital Management Inc. bought a new stake in Nasdaq in the fourth quarter worth about $28,000. SOA Wealth Advisors LLC. bought a new position in shares of Nasdaq during the 4th quarter valued at approximately $34,000. Nemes Rush Group LLC bought a new position in shares of Nasdaq during the 4th quarter valued at approximately $35,000. Uniplan Investment Counsel Inc. purchased a new stake in shares of Nasdaq during the 4th quarter worth approximately $35,000. Finally, Fideuram Asset Management Ireland dac purchased a new stake in shares of Nasdaq during the 4th quarter worth approximately $37,000. 72.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NDAQ. Morgan Stanley reiterated an "overweight" rating and issued a $120.00 price objective on shares of Nasdaq in a research note on Friday, July 24th. Raymond James Financial reissued an "outperform" rating and issued a $113.00 target price (up from $111.00) on shares of Nasdaq in a research report on Thursday, July 9th. Weiss Ratings restated a "buy (b)" rating on shares of Nasdaq in a research note on Monday, July 20th. Rothschild & Co Redburn set a $110.00 target price on Nasdaq in a research note on Thursday, June 11th. Finally, TD Cowen reaffirmed a "buy" rating and set a $105.00 price target (up from $101.00) on shares of Nasdaq in a research report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $109.73.

Insider Transactions at Nasdaq

In related news, EVP Bradley J. Peterson sold 13,000 shares of Nasdaq stock in a transaction on Friday, July 24th. The shares were sold at an average price of $92.61, for a total value of $1,203,930.00. Following the transaction, the executive vice president owned 128,293 shares in the company, valued at $11,881,214.73. This trade represents a 9.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pc Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total value of $1,060,813.50. Following the completion of the transaction, the insider owned 205,001 shares in the company, valued at approximately $19,751,846.35. This represents a 5.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 41,797 shares of company stock worth $3,926,319. 0.60% of the stock is currently owned by insiders.

Nasdaq Stock Performance

NASDAQ NDAQ opened at $94.19 on Friday. The company's 50 day simple moving average is $87.81 and its two-hundred day simple moving average is $88.36. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. Nasdaq, Inc. has a 1 year low of $76.55 and a 1 year high of $101.79. The stock has a market capitalization of $52.65 billion, a PE ratio of 27.46, a P/E/G ratio of 1.29 and a beta of 0.99.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.98 by $0.09. The business had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The firm's revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. Analysts predict that Nasdaq, Inc. will post 4.13 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 1.3%. Nasdaq's dividend payout ratio (DPR) is 36.15%.

Nasdaq Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.