Pine Valley Investments Ltd Liability Co Lowers Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Pine Valley Investments Ltd Liability Co lowered its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,928 shares of the financial services provider’s stock after selling 976 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Intercontinental Exchange were worth $2,398,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wolff Wiese Magana LLC increased its holdings in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in Intercontinental Exchange during the 3rd quarter worth about $26,000. Financial Management Professionals Inc. boosted its holdings in Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 87 shares during the period. Fairscale Capital LLC acquired a new position in Intercontinental Exchange in the 2nd quarter valued at about $25,000. Finally, Capital Performance Advisors LLP purchased a new stake in Intercontinental Exchange during the third quarter worth about $29,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays raised their price objective on shares of Intercontinental Exchange from $173.00 to $187.00 and gave the company an “overweight” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. The Goldman Sachs Group increased their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $175.07.

Insiders Place Their Bets

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $76,195.08. Following the sale, the chief operating officer now owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. The trade was a 3.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,901 shares of company stock valued at $1,582,542. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 1.0 %

NYSE:ICE opened at $156.55 on Friday. The company has a market capitalization of $89.89 billion, a PE ratio of 37.10, a P/E/G ratio of 2.61 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52-week low of $117.49 and a 52-week high of $167.99. The stock’s 50 day moving average price is $160.18 and its 200 day moving average price is $153.08. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $2.35 billion. During the same period last year, the firm posted $1.46 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, research analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

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.