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

Pine Valley Investments Ltd Liability Co trimmed its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,928 shares of the financial services provider’s stock after selling 976 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Intercontinental Exchange were worth $2,398,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. New Millennium Group LLC purchased a new position in Intercontinental Exchange during the 2nd quarter valued at about $25,000. International Assets Investment Management LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter worth approximately $25,000. Fairscale Capital LLC purchased a new stake in Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. Wolff Wiese Magana LLC grew its holdings in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in Intercontinental Exchange during the third quarter worth $26,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the sale, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at $2,202,819.30. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction 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 represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,901 shares of company stock valued at $1,582,542. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the topic of a number of analyst reports. TD Cowen began coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. JPMorgan Chase & Co. raised their price target 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Bank of America increased their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.07.

Intercontinental Exchange Price Performance

ICE opened at $156.55 on Friday. The company has a 50 day moving average of $160.18 and a two-hundred day moving average of $153.08. Intercontinental Exchange, Inc. has a 52-week low of $117.49 and a 52-week high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a market cap of $89.89 billion, a P/E ratio of 37.10, a P/E/G ratio of 2.61 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. On average, analysts expect that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Intercontinental Exchange Profile

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.