GAMMA Investing LLC Has $2.92 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• GAMMA Investing LLC increased its stake in Intercontinental Exchange Inc. by 21.3%, owning a total of 15,928 shares valued at approximately $2.92 million.
• Other hedge funds also significantly modified their holdings in Intercontinental Exchange, with some increasing their stakes by over 200% in the first quarter of the year.
• Intercontinental Exchange reported $1.81 EPS for the last quarter, exceeding analysts' estimates of $1.77, along with a 9.8% increase in revenue year-over-year.

GAMMA Investing LLC raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 21.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,928 shares of the financial services provider's stock after purchasing an additional 2,799 shares during the period. GAMMA Investing LLC's holdings in Intercontinental Exchange were worth $2,922,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 1.4% during the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider's stock valued at $9,132,211,000 after buying an additional 712,179 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Intercontinental Exchange by 491.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock valued at $1,109,780,000 after buying an additional 5,345,388 shares during the last quarter. Amundi grew its stake in Intercontinental Exchange by 14.7% during the first quarter. Amundi now owns 6,315,706 shares of the financial services provider's stock valued at $1,060,574,000 after acquiring an additional 810,938 shares in the last quarter. Independent Franchise Partners LLP grew its position in shares of Intercontinental Exchange by 0.5% during the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider's stock valued at $1,068,193,000 after purchasing an additional 31,588 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Intercontinental Exchange by 113.9% in the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock worth $1,025,230,000 after acquiring an additional 3,165,381 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Up 0.3%

Intercontinental Exchange stock traded up $0.52 during midday trading on Monday, reaching $170.29. The company's stock had a trading volume of 4,228,054 shares, compared to its average volume of 2,750,103. The business has a 50-day simple moving average of $179.35 and a 200-day simple moving average of $175.01. The company has a market cap of $97.48 billion, a P/E ratio of 32.69, a P/E/G ratio of 2.02 and a beta of 1.10. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

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, topping analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. Intercontinental Exchange's quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction 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 approximately $4,530,293.52. This trade 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 accessible through the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the sale, the director owned 18,169 shares in the company, valued at $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 231,669 shares of company stock valued at $42,333,438 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

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

Intercontinental Exchange Company 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.