TFR Capital LLC. Makes New Investment in Intercontinental Exchange Inc. $ICE

Key Points

• TFR Capital LLC purchased 12,486 shares of Intercontinental Exchange, worth approximately $1.54 million, during the second quarter. Institutional investors collectively own 89.30% of ICE shares.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $183.33. Recent targets range from $178 to $195, although Piper Sandler reduced its target to $190.
• ICE exceeded quarterly earnings expectations, reporting $1.90 in EPS versus the $1.84 consensus estimate and $3.61 billion in revenue, up 4.8% year over year. Meanwhile, insiders sold 20,725 shares worth about $3.12 million over the past three months.

TFR Capital LLC. purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,486 shares of the financial services provider's stock, valued at approximately $1,537,000.

A number of other hedge funds also recently made changes to their positions in ICE. Ares Financial Consulting LLC bought a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Brooklands Fund Management Ltd bought a new position in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Lloyd Advisory Services LLC. acquired a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $30,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $37,000. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ICE. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. Barclays restated an "overweight" rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. UBS Group reaffirmed a "buy" rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Weiss Ratings downgraded Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday. Finally, Piper Sandler lowered their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $183.33.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $154.55 on Friday. The company has a market cap of $86.76 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $182.86. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $140.59 and a 200-day moving average of $152.26.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the previous year, the business posted $1.81 EPS. Intercontinental Exchange's revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company's stock, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 7,300 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the transaction, the senior vice president owned 19,063 shares in the company, valued at $2,838,099.44. This represents a 27.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 20,725 shares of company stock valued at $3,115,124. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Company 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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