Otter Creek Advisors LLC Grows Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Otter Creek Advisors LLC increased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 43.7% in the third quarter, HoldingsChannel reports. The firm owned 16,436 shares of the financial services provider’s stock after purchasing an additional 5,000 shares during the quarter. Otter Creek Advisors LLC’s holdings in Intercontinental Exchange were worth $2,640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new stake in shares of Intercontinental Exchange in the second quarter worth $124,508,000. Janus Henderson Group PLC boosted its position in shares of Intercontinental Exchange by 589.4% in the first quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after purchasing an additional 687,817 shares during the period. James Hambro & Partners bought a new position in shares of Intercontinental Exchange in the second quarter worth approximately $93,340,000. Assenagon Asset Management S.A. lifted its holdings in shares of Intercontinental Exchange by 426.3% in the third quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock worth $115,898,000 after buying an additional 584,400 shares in the last quarter. Finally, Samlyn Capital LLC lifted its holdings in shares of Intercontinental Exchange by 142.2% in the second quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock worth $114,393,000 after buying an additional 490,671 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 1.9 %

Shares of ICE opened at $158.70 on Friday. Intercontinental Exchange, Inc. has a twelve month low of $111.82 and a twelve month high of $167.99. The company has a market cap of $91.13 billion, a P/E ratio of 37.61, a P/E/G ratio of 2.61 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $160.68 and its 200-day simple moving average is $150.72.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Insider Activity

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. This represents a 3.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Judith A. Sprieser sold 1,941 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the transaction, the director now owns 26,908 shares in the company, valued at approximately $4,323,846.52. The trade was a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,809 shares of company stock valued at $933,978. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on ICE. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, TD Cowen assumed coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $174.13.

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.