Nasdaq, Inc. (NASDAQ:NDAQ) Sees Large Drop in Short Interest

Nasdaq, Inc. (NASDAQ:NDAQ - Get Free Report) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 5,030,000 shares, a decrease of 17.4% from the March 31st total of 6,090,000 shares. Based on an average daily volume of 3,210,000 shares, the short-interest ratio is presently 1.6 days. Currently, 0.9% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NDAQ. Oppenheimer cut their price target on shares of Nasdaq from $89.00 to $85.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Redburn Atlantic upgraded shares of Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 price target on the stock in a research report on Thursday, April 17th. Keefe, Bruyette & Woods lifted their price objective on Nasdaq from $87.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. UBS Group reiterated a "cautious" rating on shares of Nasdaq in a report on Monday, April 28th. Finally, Piper Sandler increased their price objective on Nasdaq from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $85.18.

Nasdaq Stock Up 0.0 %

NASDAQ:NDAQ traded up $0.01 during trading hours on Monday, reaching $78.19. 1,734,542 shares of the company traded hands, compared to its average volume of 2,790,794. The stock has a market capitalization of $44.89 billion, a P/E ratio of 40.72, a P/E/G ratio of 2.12 and a beta of 1.00. The business's 50-day moving average price is $74.59 and its two-hundred day moving average price is $77.60. Nasdaq has a 1 year low of $58.28 and a 1 year high of $84.15. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. The firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company's revenue was up 10.7% on a year-over-year basis. Analysts predict that Nasdaq will post 3.18 earnings per share for the current year.

Nasdaq Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.38%. This is a boost from Nasdaq's previous quarterly dividend of $0.24. The ex-dividend date is Friday, June 13th. Nasdaq's dividend payout ratio (DPR) is presently 49.09%.

Insider Buying and Selling at Nasdaq

In related news, EVP Sarah Youngwood sold 14,959 shares of Nasdaq stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $73.68, for a total value of $1,102,179.12. Following the completion of the transaction, the executive vice president now directly owns 59,694 shares in the company, valued at approximately $4,398,253.92. The trade was a 20.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bryan Everard Smith sold 657 shares of the stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $71.81, for a total value of $47,179.17. Following the sale, the executive vice president now directly owns 61,980 shares in the company, valued at $4,450,783.80. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nasdaq

Several hedge funds and other institutional investors have recently made changes to their positions in NDAQ. Allworth Financial LP grew its position in Nasdaq by 12.3% during the fourth quarter. Allworth Financial LP now owns 1,292 shares of the financial services provider's stock valued at $104,000 after buying an additional 141 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Nasdaq by 1.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,818 shares of the financial services provider's stock valued at $759,000 after acquiring an additional 148 shares during the period. Brooklyn Investment Group increased its stake in shares of Nasdaq by 8.5% in the 4th quarter. Brooklyn Investment Group now owns 1,899 shares of the financial services provider's stock worth $147,000 after purchasing an additional 148 shares in the last quarter. Crestwood Advisors Group LLC raised its holdings in Nasdaq by 4.1% in the 4th quarter. Crestwood Advisors Group LLC now owns 3,822 shares of the financial services provider's stock worth $295,000 after purchasing an additional 152 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC lifted its position in Nasdaq by 1.0% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 16,303 shares of the financial services provider's stock valued at $1,260,000 after purchasing an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.

Nasdaq Company 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.