Delta Global Management LP Acquires 181,786 Shares of Intercontinental Exchange Inc. $ICE

Delta Global Management LP raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 477.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 219,839 shares of the financial services provider’s stock after buying an additional 181,786 shares during the period. Intercontinental Exchange accounts for 1.6% of Delta Global Management LP’s portfolio, making the stock its 10th biggest position. Delta Global Management LP’s holdings in Intercontinental Exchange were worth $35,605,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $25,000. Brooklands Fund Management Ltd purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Dorato Capital Management acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $29,000. Swiss RE Ltd. acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $28,000. Finally, Steph & Co. boosted its holdings in Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after buying an additional 89 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,092 shares of company stock valued at $1,860,424 in the last 90 days. Company insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research note on Friday, March 6th. Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. Barclays reissued an “overweight” rating and issued a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Piper Sandler restated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Finally, UBS Group reiterated a “buy” rating and issued a $205.00 target price on shares of Intercontinental Exchange in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $193.00.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $139.87 on Tuesday. The company has a market cap of $79.10 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company has a fifty day simple moving average of $153.76 and a two-hundred day simple moving average of $159.21. Intercontinental Exchange Inc. has a 52 week low of $136.67 and a 52 week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.72 EPS. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.