MQS Management LLC Takes $358,000 Position in Nasdaq, Inc. (NASDAQ:NDAQ)

MQS Management LLC purchased a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,899 shares of the financial services provider’s stock, valued at approximately $358,000.

A number of other hedge funds also recently made changes to their positions in the business. Empowered Funds LLC lifted its holdings in Nasdaq by 35.8% during the first quarter. Empowered Funds LLC now owns 6,098 shares of the financial services provider’s stock valued at $385,000 after purchasing an additional 1,609 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Nasdaq by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 391,680 shares of the financial services provider’s stock valued at $24,715,000 after acquiring an additional 13,739 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Nasdaq by 32.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 428,562 shares of the financial services provider’s stock valued at $27,042,000 after purchasing an additional 104,269 shares during the last quarter. Kingsview Wealth Management LLC grew its position in Nasdaq by 7.2% during the first quarter. Kingsview Wealth Management LLC now owns 35,920 shares of the financial services provider’s stock valued at $2,267,000 after acquiring an additional 2,397 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Nasdaq during the 1st quarter valued at $76,000. 72.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Jeremy Skule sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $77.92, for a total value of $935,040.00. Following the completion of the sale, the executive vice president now owns 114,580 shares in the company, valued at approximately $8,928,073.60. This trade represents a 9.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bradley J. Peterson sold 13,642 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.32, for a total value of $1,027,515.44. Following the transaction, the executive vice president now owns 142,830 shares of the company’s stock, valued at $10,757,955.60. This trade represents a 8.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,384 shares of company stock worth $2,860,902 over the last quarter. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

NDAQ has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Nasdaq from $78.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday. Morgan Stanley increased their price target on shares of Nasdaq from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. UBS Group boosted their target price on shares of Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price target on Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $88.00 price objective on shares of Nasdaq in a research report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and an average target price of $80.87.

Nasdaq Stock Performance

Shares of NASDAQ NDAQ opened at $78.06 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $44.87 billion, a price-to-earnings ratio of 46.74, a price-to-earnings-growth ratio of 3.10 and a beta of 0.95. Nasdaq, Inc. has a 12-month low of $53.17 and a 12-month high of $80.77. The firm has a 50 day moving average of $74.15 and a 200 day moving average of $67.22.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business earned $0.71 EPS. The firm’s revenue was up 21.9% compared to the same quarter last year. On average, research analysts anticipate that Nasdaq, Inc. will post 2.78 earnings per share for the current year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, December 6th. Nasdaq’s dividend payout ratio (DPR) is presently 57.49%.

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.