Militia Capital Partners LP Sells 2,900 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Militia Capital Partners LP reduced its stake in Intercontinental Exchange Inc. by 72.5%, selling 2,900 shares and holding 1,100 shares worth $190,000 at the end of the most recent quarter.
• Intercontinental Exchange's earnings report showed an EPS of $1.81 for the quarter, exceeding expectations, with a revenue of $3.26 billion, marking a 9.8% year-over-year increase.
• Analysts have a consensus rating of "Moderate Buy" for the stock, with a price target raised by brokerages to an average of $194.92, indicating positive sentiment among analysts.

Militia Capital Partners LP decreased its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 72.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,100 shares of the financial services provider's stock after selling 2,900 shares during the quarter. Militia Capital Partners LP's holdings in Intercontinental Exchange were worth $190,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Tema Etfs LLC bought a new position in Intercontinental Exchange in the fourth quarter worth $1,107,000. Capital Investment Advisory Services LLC bought a new position in shares of Intercontinental Exchange during the first quarter valued at $349,000. Sequoia Financial Advisors LLC increased its holdings in shares of Intercontinental Exchange by 18.3% during the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock valued at $2,099,000 after acquiring an additional 1,879 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at $28,949,000. Finally, Ritholtz Wealth Management increased its holdings in shares of Intercontinental Exchange by 52.3% during the first quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider's stock valued at $1,372,000 after acquiring an additional 2,732 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Analyst Ratings Changes

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

Intercontinental Exchange Price Performance

NYSE ICE opened at $176.12 on Friday. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The stock has a 50-day moving average of $180.80 and a 200 day moving average of $174.95. The company has a market capitalization of $100.81 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.05 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company earned $1.52 EPS. Intercontinental Exchange's revenue for the quarter was up 9.8% on a year-over-year basis. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares in the company, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Warren Gardiner sold 1,570 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $178.45, for a total value of $280,166.50. Following the completion of the sale, the chief financial officer owned 22,106 shares of the company's stock, valued at $3,944,815.70. The trade was a 6.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 229,130 shares of company stock worth $41,890,900 in the last three months. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange 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.

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