Nasdaq (NASDAQ:NDAQ) Sets New 52-Week Low – Here’s What Happened

Nasdaq, Inc. (NASDAQ:NDAQ)’s share price reached a new 52-week low on Monday . The company traded as low as $77.08 and last traded at $76.7950, with a volume of 2901453 shares. The stock had previously closed at $78.56.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NDAQ. TD Cowen lowered their price target on shares of Nasdaq from $104.00 to $98.00 and set a “buy” rating for the company in a report on Monday, June 22nd. Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Nasdaq in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods raised their price objective on Nasdaq from $92.00 to $97.00 and gave the company a “market perform” rating in a research note on Friday, April 24th. Finally, Loop Capital set a $113.00 target price on Nasdaq in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Nasdaq currently has a consensus rating of “Moderate Buy” and an average target price of $106.79.

Nasdaq Stock Up 4.4%

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.00. The company’s fifty day moving average price is $87.77 and its 200-day moving average price is $89.46. The stock has a market cap of $46.56 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 1.53 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.42 billion. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 EPS. Equities analysts forecast that Nasdaq, Inc. will post 3.87 EPS for the current year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. Nasdaq’s dividend payout ratio is 37.35%.

Insiders Place Their Bets

In related news, major shareholder Ab Investor bought 56,782 shares of the stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the purchase, the insider owned 58,439,208 shares of the company’s stock, valued at $5,024,603,103.84. This trade represents a 0.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Bradley J. Peterson sold 7,710 shares of Nasdaq stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $90.82, for a total transaction of $700,222.20. Following the sale, the executive vice president owned 141,035 shares of the company’s stock, valued at $12,808,798.70. The trade was a 5.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,551 shares of company stock worth $2,225,990 in the last 90 days. 0.60% of the stock is owned by insiders.

Institutional Trading of Nasdaq

Large investors have recently modified their holdings of the company. NBC Securities Inc. increased its holdings in Nasdaq by 7.8% during the 4th quarter. NBC Securities Inc. now owns 1,529 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 111 shares during the period. ORG Wealth Partners LLC grew its position in shares of Nasdaq by 6.9% during the 4th quarter. ORG Wealth Partners LLC now owns 1,746 shares of the financial services provider’s stock worth $170,000 after buying an additional 112 shares in the last quarter. Independent Advisor Alliance increased its stake in shares of Nasdaq by 2.6% during the fourth quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider’s stock valued at $444,000 after buying an additional 117 shares during the period. Orgel Wealth Management LLC increased its stake in shares of Nasdaq by 4.7% during the fourth quarter. Orgel Wealth Management LLC now owns 2,623 shares of the financial services provider’s stock valued at $255,000 after buying an additional 118 shares during the period. Finally, Quantum Portfolio Management LLC increased its position in Nasdaq by 1.8% during the 1st quarter. Quantum Portfolio Management LLC now owns 7,144 shares of the financial services provider’s stock valued at $606,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 72.47% of the company’s stock.

About Nasdaq

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.