Ghisallo Capital Management LLC Sells 200,000 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Ghisallo Capital Management LLC has significantly reduced its stake in Nasdaq, Inc. by 66.7%, selling 200,000 shares and now holding 100,000 shares valued at approximately $7.586 million.
• Nasdaq reported earnings of $0.85 per share for the last quarter, exceeding analysts' expectations of $0.78, along with a 12.7% increase in year-over-year revenue.
• The company has announced a quarterly dividend of $0.27 per share, translating to an annualized yield of 1.1%, with the next payment scheduled for September 26th.

Ghisallo Capital Management LLC trimmed its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 66.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the financial services provider's stock after selling 200,000 shares during the quarter. Ghisallo Capital Management LLC's holdings in Nasdaq were worth $7,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust boosted its position in shares of Nasdaq by 194.6% in the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 216 shares during the period. Highline Wealth Partners LLC boosted its position in shares of Nasdaq by 1,509.5% in the first quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 317 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Nasdaq in the first quarter valued at about $26,000. First Command Advisory Services Inc. bought a new stake in shares of Nasdaq in the first quarter valued at about $30,000. Finally, AlphaQuest LLC bought a new stake in shares of Nasdaq in the first quarter valued at about $34,000. 72.47% of the stock is owned by institutional investors.

Nasdaq Trading Up 0.2%

Shares of NASDAQ:NDAQ traded up $0.18 during midday trading on Wednesday, hitting $93.77. 1,831,488 shares of the stock were exchanged, compared to its average volume of 2,422,332. The stock has a market capitalization of $53.80 billion, a price-to-earnings ratio of 36.07, a P/E/G ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 0.96. The business's 50-day moving average price is $92.75 and its 200 day moving average price is $83.43. Nasdaq, Inc. has a 12 month low of $64.84 and a 12 month high of $97.63.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The business had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the prior year, the business posted $0.69 earnings per share. The firm's revenue was up 12.7% on a year-over-year basis. Analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, September 12th. Nasdaq's dividend payout ratio is presently 41.54%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NDAQ shares. Deutsche Bank Aktiengesellschaft boosted their price target on Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Barclays boosted their price target on Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Morgan Stanley boosted their price target on Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Raymond James Financial reaffirmed an "outperform" rating and issued a $96.00 price target (up previously from $84.00) on shares of Nasdaq in a research note on Wednesday, July 9th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Nasdaq in a research note on Wednesday, July 9th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Nasdaq currently has an average rating of "Moderate Buy" and a consensus price target of $97.06.

Insiders Place Their Bets

In other news, EVP Bradley J. Peterson sold 11,508 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the transaction, the executive vice president directly owned 111,035 shares of the company's stock, valued at $9,867,680.45. This represents a 9.39% 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, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the transaction, the executive vice president directly owned 92,551 shares in the company, valued at $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,409 shares of company stock worth $2,223,599. Corporate insiders own 0.70% of the company's stock.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.