Spectrum Management Group Inc. Takes Position in Nasdaq Inc. (NDAQ)
Spectrum Management Group Inc. purchased a new stake in Nasdaq Inc. (NASDAQ:NDAQ) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,495 shares of the company’s stock, valued at approximately $808,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Redwood Investments LLC acquired a new position in shares of Nasdaq during the second quarter valued at about $14,934,000. Advisory Services Network LLC boosted its position in shares of Nasdaq by 166.2% in the second quarter. Advisory Services Network LLC now owns 2,068 shares of the company’s stock valued at $134,000 after buying an additional 1,291 shares during the last quarter. First National Trust Co. boosted its position in shares of Nasdaq by 6.4% in the second quarter. First National Trust Co. now owns 12,598 shares of the company’s stock valued at $815,000 after buying an additional 754 shares during the last quarter. ING Groep NV acquired a new position in shares of Nasdaq during the second quarter valued at about $265,000. Finally, Capital Fund Management S.A. boosted its position in shares of Nasdaq by 1,433.0% in the second quarter. Capital Fund Management S.A. now owns 29,127 shares of the company’s stock valued at $1,884,000 after buying an additional 27,227 shares during the last quarter. 74.21% of the stock is currently owned by institutional investors.
Nasdaq Inc. (NASDAQ:NDAQ) traded up 0.60% during trading on Friday, reaching $67.24. 603,938 shares of the company’s stock were exchanged. Nasdaq Inc. has a 52 week low of $54.54 and a 52 week high of $71.92. The stock has a market capitalization of $11.13 billion, a PE ratio of 23.28 and a beta of 0.81. The stock has a 50-day moving average of $69.06 and a 200-day moving average of $66.68.
Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.03. The company had revenue of $559 million for the quarter, compared to analyst estimates of $548 million. Nasdaq had a net margin of 13.79% and a return on equity of 10.76%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. On average, equities research analysts anticipate that Nasdaq Inc. will post $3.71 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.90%. Nasdaq’s dividend payout ratio (DPR) is presently 44.44%.
Several research analysts have issued reports on the stock. Credit Suisse Group AG reiterated a “buy” rating and set a $72.00 target price on shares of Nasdaq in a report on Monday, August 8th. Deutsche Bank AG increased their target price on shares of Nasdaq from $76.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, September 9th. Zacks Investment Research cut shares of Nasdaq from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Evercore ISI cut shares of Nasdaq from a “buy” rating to a “hold” rating and dropped their target price for the stock from $69.00 to $68.00 in a report on Tuesday, July 5th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Nasdaq from $70.00 to $74.00 and gave the stock a “market perform” rating in a report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $70.26.
In related news, CEO Robert Greifeld sold 199,480 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $70.28, for a total transaction of $14,019,454.40. Following the sale, the chief executive officer now directly owns 1,064,815 shares in the company, valued at $74,835,198.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward S. Knight sold 19,555 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $70.40, for a total transaction of $1,376,672.00. Following the sale, the insider now owns 76,407 shares in the company, valued at $5,379,052.80. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Nasdaq Company Profile
Nasdaq, Inc (Nasdaq), formerly The NASDAQ OMX Group, Inc, is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services across approximately six continents. The Company manages, operates and provides its products and services through four segments: Market Services, Listing Services, Information Services and Technology Solutions.
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