GSA Capital Partners LLP Takes $1.20 Million Position in Intercontinental Exchange Inc. $ICE

Key Points

• GSA Capital Partners initiated a position in Intercontinental Exchange, purchasing 9,774 shares valued at approximately $1.20 million. Institutional investors collectively own 89.3% of ICE’s outstanding shares.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $183.33. Recent targets range from $163 to $208.
• ICE reported quarterly EPS of $1.90, exceeding estimates of $1.84, while revenue rose 4.8% year over year to $3.61 billion. Several insiders sold shares during the past 90 days, totaling approximately $2.75 million.

GSA Capital Partners LLP bought a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,774 shares of the financial services provider's stock, valued at approximately $1,203,000.

A number of other hedge funds have also made changes to their positions in ICE. ICONIQ Capital LLC grew its stake in Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock worth $481,000 after buying an additional 56 shares during the last quarter. Mission Wealth Management LP increased its holdings in shares of Intercontinental Exchange by 2.4% during the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider's stock worth $423,000 after buying an additional 62 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider's stock worth $681,000 after buying an additional 63 shares in the last quarter. Johnson Financial Group LLC raised its stake in shares of Intercontinental Exchange by 4.0% in the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider's stock valued at $277,000 after acquiring an additional 65 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in shares of Intercontinental Exchange by 33.5% in the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ICE shares. UBS Group restated a "buy" rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. TD Cowen reiterated a "buy" rating and issued a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Barclays reissued an "overweight" rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research note on Monday, July 6th. Finally, Morgan Stanley lowered their target price on Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating for the company in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus target price of $183.33.

Intercontinental Exchange Price Performance

ICE opened at $154.62 on Tuesday. The company has a fifty day moving average price of $140.90 and a two-hundred day moving average price of $151.97. The firm has a market capitalization of $86.80 billion, a PE ratio of 21.84, a P/E/G ratio of 1.52 and a beta of 0.92. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $181.72. 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 posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the company earned $1.81 EPS. The firm's revenue was up 4.8% on a year-over-year basis. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 7,300 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the transaction, the senior vice president owned 19,063 shares of the company's stock, valued at approximately $2,838,099.44. This represents a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 18,376 shares of company stock valued at $2,746,946. Corporate 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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