Landscape Capital Management L.L.C. Invests $2.55 Million in Intercontinental Exchange Inc. $ICE

Key Points

• Landscape Capital Management disclosed a new fourth-quarter stake in Intercontinental Exchange, buying 15,754 shares valued at about $2.55 million.
• Institutional ownership remains dominant, with hedge funds and other investors holding 89.3% of ICE shares, while company insiders recently sold stock, including CFO Warren Gardiner and General Counsel Andrew J. Surdykowski.
• Analysts remain broadly constructive: ICE has a Moderate Buy consensus rating and a $193 average price target, even as shares traded down slightly and the stock is well below its 52-week high.

Landscape Capital Management L.L.C. acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 15,754 shares of the financial services provider's stock, valued at approximately $2,552,000.

Other large investors also recently bought and sold shares of the company. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange during the 4th quarter valued at $25,000. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange during the 4th quarter valued at $28,000. Steph & Co. boosted its holdings in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 89 shares during the period. Swiss RE Ltd. purchased a new position in Intercontinental Exchange during the 4th quarter valued at $28,000. Finally, Dorato Capital Management purchased a new position in Intercontinental Exchange during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insiders Place Their Bets

In related news, CFO Warren Gardiner sold 2,490 shares of the company's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer directly owned 25,189 shares of the company's stock, valued at $3,945,604.96. This represents a 9.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel directly owned 45,473 shares in the company, valued at $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. Over the last quarter, insiders sold 12,092 shares of company stock valued at $1,860,424. 0.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of recent analyst reports. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a report on Thursday. Piper Sandler restated an "overweight" rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Weiss Ratings cut Intercontinental Exchange from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective for the company in a report on Friday, March 6th. Finally, Morgan Stanley lifted their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a research report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and a consensus price target of $193.00.

Intercontinental Exchange Trading Down 0.2%

Shares of NYSE:ICE opened at $140.26 on Monday. The business's 50-day moving average is $154.22 and its 200 day moving average is $159.32. Intercontinental Exchange Inc. has a 1 year low of $136.67 and a 1 year high of $189.35. The firm has a market capitalization of $79.32 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the company posted $1.72 EPS. The firm's quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

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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