Interval Partners LP Buys 16,841 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Interval Partners LP increased its stake in Nasdaq, Inc. by 21.5% during the first quarter, owning 95,232 shares valued at approximately $7.2 million according to SEC filings.
• Nasdaq reported earnings of $0.85 per share, exceeding analysts' expectations of $0.78, along with a 12.7% increase in quarterly revenue year-over-year.
• The company announced a quarterly dividend of $0.27 per share, which equates to an annual yield of 1.1%, with the dividend payout ratio currently at 41.54%.

Interval Partners LP boosted its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 21.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,232 shares of the financial services provider's stock after buying an additional 16,841 shares during the period. Interval Partners LP's holdings in Nasdaq were worth $7,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Grove Bank & Trust lifted its holdings in 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 buying an additional 216 shares during the period. Highline Wealth Partners LLC lifted its holdings in 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 buying an additional 317 shares during the period. Opal Wealth Advisors LLC acquired a new position in Nasdaq in the first quarter valued at $26,000. First Command Advisory Services Inc. acquired a new position in Nasdaq in the first quarter valued at $30,000. Finally, AlphaQuest LLC acquired a new position in Nasdaq in the first quarter valued at $34,000. Institutional investors and hedge funds own 72.47% of the company's stock.

Insiders Place Their Bets

In other Nasdaq news, EVP Jeremy Skule sold 2,105 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the sale, the executive vice president directly owned 92,551 shares of the company's stock, valued at approximately $8,837,694.99. This represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michelle Lynn Daly sold 8,691 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $93.45, for a total transaction of $812,173.95. Following the completion of the sale, the senior vice president directly owned 8,879 shares of the company's stock, valued at $829,742.55. The trade was a 49.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,409 shares of company stock valued at $2,223,599. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

NDAQ has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods upped their price objective on shares of Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a report on Friday, July 25th. UBS Group upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and upped their price objective for the company from $95.00 to $115.00 in a report on Friday, July 25th. Piper Sandler upped their price objective on shares of Nasdaq from $97.00 to $104.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Nasdaq in a report on Friday, July 25th. Fourteen equities 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.com, Nasdaq has a consensus rating of "Moderate Buy" and a consensus target price of $97.06.

Nasdaq Stock Down 0.2%

NDAQ stock traded down $0.21 during trading on Wednesday, reaching $94.67. The stock had a trading volume of 1,029,751 shares, compared to its average volume of 3,238,412. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The company's 50 day moving average is $93.30 and its two-hundred day moving average is $83.87. The company has a market capitalization of $54.32 billion, a price-to-earnings ratio of 36.40, a P/E/G ratio of 2.08 and a beta of 1.02.

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

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 12th. Nasdaq's dividend payout ratio is presently 41.54%.

Nasdaq 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.