Grisanti Capital Management LLC acquired a new stake in Intercontinental Exchange Inc. (NYSE: ICE) during the second quarter, according to the latest filings with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,838 shares in the financial services company's shares, valued at approximately $ 2,709,000. Intercontinental Exchange comprises approximately 1.2% of Grisanti Capital Management LLC's portfolio, bringing the share to 28th place.
Other institutional investors and hedge funds have increased or decreased their stake in the company. Kaizen Advisory LLC increased its participations in Intercontinental Exchange by 143.4% in the second quarter. Kaizen Advisory LLC now owns 1,356 shares in the share capital of the financial services provider with a value of $ 100,000 after acquiring another 799 shares during the last quarter. Townsend & Associates Inc raised its interest in Intercontinental Exchange in the second quarter with 894.0%. Townsend & Associates Inc now owns 1,650 shares in the financial services provider's share of $ 121,000 after the purchase of 1,494 additional shares in the last quarter. Charm Financial Consulting Inc. acquired a new position in Intercontinental Exchange in the first quarter of $ 127,000. Institutional & Family Asset Management LLC acquired a new position in Intercontinental Exchange in the first quarter of $ 128,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in Intercontinental Exchange during the first quarter of $ 130,000. Hedge funds and other institutional investors hold 88.90% of the company's shares.
In other Intercontinental Exchange news, vice-chairman Charles A. Vice sold 35,000 shares of the company's shares in a transaction on Wednesday, June 6. The shares were sold at an average price of $ 75.65 for a total value of $ 2,647,750.00. After the completion of the transaction, the insider now owns 417,507 shares in the company, valued at $ 31,584,404.55. The transaction was disclosed in a legal application to the Securities & Exchange Commission, which is accessible via this hyperlink. Insider James W. Namkung also sold 2300 shares of the company's shares in a transaction on Monday 9 July. The shares were sold at an average price of $ 73.38 for a total transaction of $ 168,774.00. The information for this sale can be found here. Insiders have sold 124,593 shares of company shares worth $ 9,209,416 in the past three months. 1.50% of the shares are currently held by insiders of companies.
ICE has been the subject of a number of research reports. Compass Point assumed coverage on Intercontinental Exchange in a study letter on Friday, June 22. They set a "buy" rating and a target price of $ 85.00 on the shares. Zacks Investment Research put Intercontinental Exchange on the market of a "sell" rating to a "buy" rating and set a price target of $ 83.00 on the shares in a research report on Wednesday, July 4. ValuEngine lowered Intercontinental Exchange from a "buy" rating to a "hold" rating in a research report on Saturday, June 16. Wells Fargo & Co again confirmed a "market performance" rating and set a price target of $ 80.00 (previously higher than $ 74.00) on Intercontinental Exchange shares in a research report on Monday, July 9. Finally, Barclays raised its price target on Intercontinental Exchange from $ 80.00 to $ 82.00 and gave the share an "overweight" rating in a research report on Thursday, July 12. Four investment analysts assessed the shares with a hold rating and twelve awarded a buy-rating to the company's shares. The stock currently has a consensus rating of "Buying" and a consensus target price of $ 80.00.
NYSE: ICE traded Thursday $ 0.40 during trading hours and reached $ 73.00. The company's shares had a trading volume of 164,191 shares, compared with the average volume of 2,250,871. The company has a market capitalization of $ 42.51 billion, a PE ratio of 24.88, a price-earnings ratio of 2.16 and a beta of 0.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. Intercontinental Exchange Inc has a low of 52 weeks of $ 63.93 and a height of 52 weeks of $ 77.22.
Intercontinental Exchange (NYSE: ICE) posted its results for the last time on Thursday 2 August. The financial services provider reported $ 0.90 EPS for the quarter, and beat the consensus estimate of $ 0.89 with $ 0.01. The company had sales of $ 1.25 billion for the quarter compared with analyst estimates of $ 1.24 billion. Intercontinental Exchange had a return on equity of 11.45% and a net margin of 41.83%. Revenue from Intercontinental Exchange increased by 5.6% this quarter compared to the same quarter last year. During the same quarter of the previous year, the company recorded $ 0.75 earnings per share. stock analysts expect Intercontinental Exchange Inc to pay 3.48 EPS for the current year.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses and locations for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel and Canada. It works through two segments Trading and Clearing; and data and offers. The company manages marketplaces to record, trade and clear a range of derivative and securities contracts in various asset classes, including energy and agricultural products, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds and currencies.
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