Qsemble Capital Management LP Buys New Stake in Intercontinental Exchange Inc. $ICE

Key Points

• Qsemble Capital Management LP opened a new position in Intercontinental Exchange, buying 38,350 shares valued at about $6.21 million in the fourth quarter.
• Several other institutional investors also added or increased ICE holdings, and overall institutional ownership stands at 89.3% of the company’s stock.
• Intercontinental Exchange reported better-than-expected quarterly results, with EPS of $2.35 and revenue of $3.67 billion, while analysts remain mostly bullish with a consensus Buy rating and average price target of $194.10.

Qsemble Capital Management LP purchased a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 38,350 shares of the financial services provider's stock, valued at approximately $6,211,000.

Several other institutional investors have also modified their holdings of ICE. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth $25,000. Holos Integrated Wealth LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Steph & Co. grew its stake 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 worth $28,000 after acquiring an additional 89 shares in the last quarter. Dorato Capital Management acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth $29,000. Finally, Caitlin John LLC acquired a new position in shares of Intercontinental Exchange in the third quarter worth $32,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ICE shares. UBS Group reaffirmed a "buy" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Monday, February 9th. Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price objective for the company. TD Cowen reaffirmed a "buy" rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Piper Sandler reaffirmed an "overweight" rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Finally, Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $194.10.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the completion of the transaction, the general counsel directly owned 48,181 shares of the company's stock, valued at $7,805,322. This represents a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total transaction of $23,250,000.00. Following the transaction, the chief executive officer owned 1,651,705 shares in the company, valued at $256,014,275. The trade was a 8.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 330,835 shares of company stock valued at $51,275,650 over the last ninety days. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $154.48 on Friday. The company has a 50-day simple moving average of $159.26 and a 200-day simple moving average of $159.94. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $87.36 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.44 and a beta of 0.96.

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