Threadgill Financial LLC Purchases Shares of 24,449 Intercontinental Exchange Inc. $ICE

Key Points

• Threadgill Financial LLC purchased 24,449 shares of Intercontinental Exchange Inc. (NYSE:ICE) during Q2, valued at approximately $4.5 million, making it the firm's 16th largest holding.
• Several other institutional investors, including Advisors Capital Management LLC and Ritholtz Wealth Management, have also made significant changes to their stakes in ICE over the past year.
• Analyst ratings for ICE are positive, with ten analysts issuing a Buy rating and a consensus price target of $194.92, reflecting strong market confidence in the stock.

Threadgill Financial LLC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,449 shares of the financial services provider's stock, valued at approximately $4,486,000. Intercontinental Exchange comprises about 2.4% of Threadgill Financial LLC's investment portfolio, making the stock its 16th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Capital Management LLC grew its position in Intercontinental Exchange by 25.0% in the 1st quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider's stock worth $341,000 after purchasing an additional 396 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new stake in shares of Intercontinental Exchange in the 1st quarter worth approximately $349,000. Sequoia Financial Advisors LLC lifted its stake in shares of Intercontinental Exchange by 18.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock worth $2,099,000 after acquiring an additional 1,879 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $28,949,000. Finally, Ritholtz Wealth Management lifted its stake in shares of Intercontinental Exchange by 52.3% in the 1st quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider's stock worth $1,372,000 after acquiring an additional 2,732 shares during the period. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Trading Up 0.3%

Shares of NYSE:ICE traded up $0.52 during mid-day trading on Monday, hitting $170.29. The stock had a trading volume of 4,228,054 shares, compared to its average volume of 2,750,103. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $97.48 billion, a PE ratio of 32.69, a P/E/G ratio of 2.02 and a beta of 1.10. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The company's 50 day moving average is $179.35 and its 200-day moving average is $175.01.

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

Insider Activity at Intercontinental Exchange

In related news, Director Duriya M. Farooqui sold 2,036 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the transaction, the director directly owned 14,299 shares in the company, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Judith A. Sprieser sold 2,900 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director owned 18,169 shares in the company, valued at $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 231,669 shares of company stock worth $42,333,438 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ICE has been the subject of a number of research analyst reports. UBS Group upped their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Barclays upped their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Piper Sandler increased their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $194.92.

Intercontinental Exchange Company 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.