Claar Advisors LLC Decreases Stake in Intercontinental Exchange Inc. $ICE

Key Points

• Claar Advisors LLC reduced its stake in Intercontinental Exchange by 16.7%, now holding 62,463 shares valued at approximately $10.78 million, making it the 9th largest holding for the firm.
• Several institutional investors, including Governors Lane LP, have significantly increased their stakes in Intercontinental Exchange, indicating strong institutional interest in the company.
• Wall Street analysts are optimistic about Intercontinental Exchange, with multiple firms raising their price targets and a consensus rating of "Moderate Buy."

Claar Advisors LLC trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 16.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,463 shares of the financial services provider's stock after selling 12,537 shares during the period. Intercontinental Exchange comprises 3.6% of Claar Advisors LLC's holdings, making the stock its 9th largest position. Claar Advisors LLC's holdings in Intercontinental Exchange were worth $10,775,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Concentric Capital Strategies LP bought a new position in Intercontinental Exchange in the 1st quarter valued at about $1,028,000. Bain Capital Public Equity Management II LLC bought a new position in Intercontinental Exchange in the 1st quarter valued at about $135,006,000. Bain Capital Public Equity LP bought a new position in Intercontinental Exchange in the 1st quarter valued at about $2,216,000. Belmont Capital LLC bought a new position in Intercontinental Exchange in the 1st quarter valued at about $1,392,000. Finally, Banque Transatlantique SA bought a new position in Intercontinental Exchange in the 1st quarter valued at about $15,973,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the transaction, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Douglas Foley sold 1,600 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the transaction, the senior vice president owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 230,730 shares of company stock valued at $42,174,868. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Intercontinental Exchange Price Performance

NYSE:ICE traded down $0.42 during mid-day trading on Monday, reaching $173.85. The stock had a trading volume of 2,322,614 shares, compared to its average volume of 2,975,500. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The stock has a market capitalization of $99.52 billion, a PE ratio of 33.37, a P/E/G ratio of 2.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50-day simple moving average of $181.49 and a two-hundred day simple moving average of $174.88.

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

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.