Intercontinental Exchange, Inc. (NYSE:ICE) Short Interest Update

Intercontinental Exchange, Inc. (NYSE:ICE - Get Free Report) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 7,060,000 shares, a growth of 9.1% from the November 15th total of 6,470,000 shares. Based on an average daily trading volume, of 2,980,000 shares, the days-to-cover ratio is presently 2.4 days.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded down $1.85 during midday trading on Tuesday, hitting $152.73. The stock had a trading volume of 3,634,078 shares, compared to its average volume of 2,604,469. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange has a 1 year low of $122.31 and a 1 year high of $167.99. The stock has a 50 day moving average price of $159.61 and a two-hundred day moving average price of $153.81. The company has a market capitalization of $87.69 billion, a PE ratio of 36.19, a P/E/G ratio of 2.61 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts' consensus estimates of $1.55. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 EPS. As a group, equities analysts predict that Intercontinental Exchange will post 6.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ICE shares. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Piper Sandler upped their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. StockNews.com raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Thursday, December 5th. Barclays upped their price objective on Intercontinental Exchange from $173.00 to $187.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $175.07.

Insider Buying and Selling

In related 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 sale, the chief operating officer now directly owns 13,530 shares of the company's stock, valued at approximately $2,202,819.30. This represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now directly owns 44,865 shares of the company's stock, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,901 shares of company stock worth $1,582,542. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Intercontinental Exchange

A number of hedge funds and other institutional investors have recently made changes to their positions in ICE. Toronto Dominion Bank lifted its stake in Intercontinental Exchange by 1.6% in the third quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider's stock valued at $49,888,000 after acquiring an additional 4,973 shares during the last quarter. GDS Wealth Management increased its holdings in Intercontinental Exchange by 5.3% during the 3rd quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider's stock valued at $16,612,000 after purchasing an additional 5,226 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in Intercontinental Exchange during the 3rd quarter worth $14,880,000. Main Management ETF Advisors LLC bought a new stake in Intercontinental Exchange in the third quarter valued at about $873,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in Intercontinental Exchange by 6.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 169,270 shares of the financial services provider's stock worth $27,192,000 after buying an additional 10,399 shares during the period. 89.30% of the stock is currently owned by institutional investors.

About Intercontinental Exchange

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.