Compass Capital Management Inc. Takes $43.45 Million Position in Intercontinental Exchange Inc. $ICE

Key Points

• Compass Capital Management acquired 352,925 shares of Intercontinental Exchange, worth approximately $43.45 million, making ICE about 2.6% of its portfolio. Institutional investors collectively own 89.3% of the company.
• Analysts maintain a generally positive outlook, with ICE carrying a “Moderate Buy” consensus rating and an average price target of $183.33, despite several recent target-price reductions and downgrades.
• Intercontinental Exchange exceeded quarterly earnings expectations, reporting $1.90 in EPS versus an estimated $1.84 and $3.61 billion in revenue. However, company insiders have sold 20,725 shares worth roughly $3.12 million over the past three months.

Compass Capital Management Inc. acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 352,925 shares of the financial services provider's stock, valued at approximately $43,449,000. Intercontinental Exchange comprises approximately 2.6% of Compass Capital Management Inc.'s holdings, making the stock its 23rd biggest position. Compass Capital Management Inc. owned about 0.06% of Intercontinental Exchange as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ICE. Ares Financial Consulting LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at $25,000. Brooklands Fund Management Ltd bought a new position in Intercontinental Exchange in the 4th quarter worth $28,000. Swiss RE Ltd. acquired a new position in Intercontinental Exchange during the 4th quarter worth $28,000. Lloyd Advisory Services LLC. acquired a new position in Intercontinental Exchange during the 4th quarter worth $30,000. Finally, Clearstead Trust LLC bought a new stake in Intercontinental Exchange during the second quarter valued at about $37,000. 89.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ICE. Wall Street Zen downgraded Intercontinental Exchange from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Weiss Ratings cut Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Barclays restated an "overweight" rating and set a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Piper Sandler lowered their target price on Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating on the stock in a report on Wednesday, July 15th. Finally, The Goldman Sachs Group dropped their price target on Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Intercontinental Exchange presently has an average rating of "Moderate Buy" and an average target price of $183.33.

Intercontinental Exchange Stock Down 0.1%

NYSE ICE opened at $154.55 on Monday. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $182.86. The stock has a market cap of $86.76 billion, a PE ratio of 21.83, a PEG ratio of 1.52 and a beta of 0.92. The firm has a 50-day simple moving average of $140.59 and a 200 day simple moving average of $152.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 earnings per share. On average, research analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the sale, the chief technology officer owned 67,988 shares of the company's stock, valued at approximately $10,279,785.60. This trade represents a 5.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the sale, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,725 shares of company stock worth $3,115,124 in the last three months. Company insiders own 0.84% of the company's stock.

About Intercontinental Exchange

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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