Intercontinental Exchange Inc. $ICE is Hahn Capital Management LLC's 5th Largest Position

Key Points

• Hahn Capital Management cut its stake in Intercontinental Exchange by 17.8% in the first quarter, but ICE still remains its 5th largest position and makes up about 4.6% of the fund’s portfolio.
• Intercontinental Exchange reported better-than-expected quarterly results, with EPS of $2.35 versus the $2.23 consensus estimate and revenue of $3.67 billion, up 20.4% from a year earlier.
• Analysts remain constructive on ICE despite some target-price cuts, with an average rating of “Moderate Buy” and an average price target of $181.58.

Hahn Capital Management LLC lessened its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,683 shares of the financial services provider's stock after selling 10,083 shares during the period. Intercontinental Exchange accounts for approximately 4.6% of Hahn Capital Management LLC's investment portfolio, making the stock its 5th biggest position. Hahn Capital Management LLC's holdings in Intercontinental Exchange were worth $7,342,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ICE. Ares Financial Consulting LLC purchased a new stake in Intercontinental Exchange during the 4th quarter worth approximately $25,000. Steph & Co. lifted its position in shares of Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 89 shares in the last quarter. Brooklands Fund Management Ltd acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth approximately $28,000. Swiss RE Ltd. purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth approximately $28,000. Finally, Dorato Capital Management acquired a new position in Intercontinental Exchange in the 4th quarter valued at $29,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 0.1%

Shares of ICE stock opened at $139.55 on Monday. The company's 50-day moving average price is $140.83 and its 200-day moving average price is $154.71. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market cap of $78.92 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.44 and a beta of 0.94. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $2.88 billion. During the same period last year, the business earned $1.72 earnings per share. Intercontinental Exchange's revenue was up 20.4% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 8.07 earnings per share for the current year.

Analysts Set New Price Targets

ICE has been the topic of several recent research reports. Weiss Ratings cut shares of Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, June 17th. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday, July 6th. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Morgan Stanley dropped their price objective on shares of 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. Finally, Piper Sandler decreased their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and an average price target of $181.58.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares of the company's stock, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sharon Bowen sold 667 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the transaction, the director owned 15,077 shares in the company, valued at $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 13,425 shares of company stock worth $2,046,324. Insiders own 0.84% of the company's stock.

Intercontinental Exchange Profile

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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