Caxton Associates LLP Acquires New Shares in Intercontinental Exchange Inc. $ICE

Key Points

• Caxton Associates LLP has invested approximately $740,000 in Intercontinental Exchange Inc. (NYSE: ICE), acquiring 4,292 shares during the 1st quarter.
• Intercontinental Exchange reported a 9.8% year-over-year increase in revenue, totaling $3.26 billion, and exceeded earnings estimates with $1.81 per share.
• Several analysts have raised their price targets for ICE stock, with Barclays updating its target to $212.00, reflecting a consensus rating of Moderate Buy.

Caxton Associates LLP acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,292 shares of the financial services provider's stock, valued at approximately $740,000.

A number of other institutional investors have also recently bought and sold shares of ICE. Sciencast Management LP lifted its holdings in Intercontinental Exchange by 0.5% during the first quarter. Sciencast Management LP now owns 20,514 shares of the financial services provider's stock worth $3,539,000 after acquiring an additional 111 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its position in shares of Intercontinental Exchange by 10.8% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 4,260 shares of the financial services provider's stock valued at $735,000 after purchasing an additional 414 shares during the period. Resources Management Corp CT ADV increased its stake in Intercontinental Exchange by 3.3% during the 1st quarter. Resources Management Corp CT ADV now owns 5,320 shares of the financial services provider's stock worth $918,000 after purchasing an additional 171 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Intercontinental Exchange by 301.7% during the first quarter. Jones Financial Companies Lllp now owns 20,545 shares of the financial services provider's stock worth $3,544,000 after acquiring an additional 15,430 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its holdings in shares of Intercontinental Exchange by 22.5% during the first quarter. Dynamic Technology Lab Private Ltd now owns 3,270 shares of the financial services provider's stock worth $564,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

Shares of ICE stock traded down $2.16 on Friday, reaching $174.02. The company had a trading volume of 2,300,528 shares, compared to its average volume of 2,489,475. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The stock has a market capitalization of $99.61 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 2.10 and a beta of 1.10. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The business's 50-day moving average is $180.62 and its 200 day moving average is $174.97.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 23.92% and a return on equity of 13.66%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned $1.52 EPS. Equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the transaction, the senior vice president directly owned 25,796 shares of the company's stock, valued at $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the transaction, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 230,730 shares of company stock worth $42,171,892 over the last quarter. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group lifted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Barclays boosted their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Piper Sandler raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $194.92.

Intercontinental Exchange Profile

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.