Polar Asset Management Partners Inc. Sells 85,413 Shares of Nasdaq, Inc. $NDAQ

Key Points

• Polar Asset Management cut its Nasdaq stake by 64.1%, selling 85,413 shares and retaining 47,751 shares worth approximately $4.05 million. Institutional investors collectively own 72.47% of NDAQ.
• Nasdaq reported quarterly earnings of $1.07 per share, exceeding estimates of $0.98, while revenue rose 14.9% year over year to $2.53 billion. The company expects approximately $4.03 in EPS for the current fiscal year.
• Nasdaq declared a quarterly dividend of $0.31 per share, equivalent to an annualized $1.24 payout and a 1.3% yield. Analysts maintain a consensus “Buy” rating with an average price target of $109.73.

Polar Asset Management Partners Inc. trimmed its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 64.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,751 shares of the financial services provider's stock after selling 85,413 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Nasdaq were worth $4,054,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of NDAQ. Norges Bank bought a new position in shares of Nasdaq during the 4th quarter worth approximately $530,100,000. Morgan Stanley grew its position in Nasdaq by 62.6% in the fourth quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider's stock valued at $900,061,000 after acquiring an additional 3,567,843 shares during the period. Nuveen LLC grew its position in Nasdaq by 82.0% in the fourth quarter. Nuveen LLC now owns 6,073,271 shares of the financial services provider's stock valued at $589,897,000 after acquiring an additional 2,736,322 shares during the period. Harris Associates L P raised its stake in Nasdaq by 46.0% during the fourth quarter. Harris Associates L P now owns 8,621,689 shares of the financial services provider's stock worth $837,425,000 after acquiring an additional 2,716,280 shares in the last quarter. Finally, State Street Corp raised its stake in Nasdaq by 7.7% during the third quarter. State Street Corp now owns 19,619,192 shares of the financial services provider's stock worth $1,735,318,000 after acquiring an additional 1,404,348 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Stock Performance

Shares of NDAQ opened at $92.09 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $51.48 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.43 and a beta of 0.99. The stock has a fifty day moving average price of $87.43 and a two-hundred day moving average price of $88.45. Nasdaq, Inc. has a 52-week low of $76.55 and a 52-week high of $101.79.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The company had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The business's revenue for the quarter was up 14.9% on a year-over-year basis. Analysts predict that Nasdaq, Inc. will post 4.03 EPS for the current fiscal year.

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, September 11th. This represents a $1.24 annualized dividend and a yield of 1.3%. Nasdaq's dividend payout ratio is 36.15%.

Key Stories Impacting Nasdaq

Here are the key news stories impacting Nasdaq this week:

• Positive Sentiment: Nasdaq delivered a solid Q2 beat on both earnings and revenue, with strong growth in index and FinTech driving better-than-expected results and record Market Services performance. Article Title
• Positive Sentiment: The company announced a quarterly dividend of $0.31 per share, which may appeal to income-focused investors and signals continued shareholder returns. Article Title
• Positive Sentiment: Keefe, Bruyette & Woods lifted its price target to $102, indicating improved valuation expectations even though the rating remained market perform. Article Title
• Neutral Sentiment: Nasdaq’s July short-interest report showed 0 shares short and a 0.0-day days-to-cover figure, which appears more like a data anomaly than a meaningful trading signal. Article Title
• Neutral Sentiment: The company also ended its Miami case and sold its fund secondaries business, a portfolio move that may be viewed as strategic housekeeping rather than a major earnings driver. Article Title

Insider Transactions at Nasdaq

In related news, major shareholder Ab Investor acquired 56,782 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $85.98 per share, with a total value of $4,882,116.36. Following the acquisition, the insider directly owned 58,439,208 shares in the company, valued at $5,024,603,103.84. The trade was a 0.10% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Bradley J. Peterson sold 7,710 shares of the firm's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total transaction of $700,222.20. Following the completion of the sale, the executive vice president owned 141,035 shares of the company's stock, valued at $12,808,798.70. The trade was a 5.18% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on NDAQ. Wall Street Zen raised Nasdaq from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. Loop Capital set a $113.00 target price on shares of Nasdaq in a report on Friday, April 24th. Keefe, Bruyette & Woods increased their target price on shares of Nasdaq from $92.00 to $102.00 and gave the stock a "market perform" rating in a research report on Friday. Rothschild & Co Redburn set a $110.00 price target on shares of Nasdaq in a report on Thursday, June 11th. Finally, Barclays restated an "overweight" rating and issued a $111.00 price target (up from $108.00) on shares of Nasdaq in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $109.73.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology company that operates one of the world's leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.

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