Economy

Sterling Capital Management LLC Reduces Holdings in Intercontinental Exchange Inc. (ICE)

Sterling Capital Management LLC Reduces Holdings in Intercontinental Exchange Inc. (ICE)”

Shares of Intercontinental Exchange, Inc. The institutional investor owned 39,655 shares of the financial services provider's stock after selling 23,980 shares during the quarter. After a recent check, it is observed that the insiders for the firm now own 0.40% shares.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ELCO Management Co. LLC purchased a new stake in Intercontinental Exchange during the third quarter worth $527,000. Inc. lifted its stake in Intercontinental Exchange by 2.2% in the 2nd quarter. State of Tennessee Treasury Department boosted its position in shares of Intercontinental Exchange by 32.8% in the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider's stock worth $126,000 after buying an additional 1,240 shares in the last quarter. Inc. increased its stake in shares of Intercontinental Exchange by 2.2% during the second quarter. LPL Financial LLC now owns 6,272 shares of the company's stock worth $1,680,000 after buying an additional 960 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new stake in Intercontinental Exchange during the second quarter worth approximately $128,000. Intercontinental Exchange has a 52 week low of $45.44 and a 52 week high of $59.86. (NYSE:ICE) traded down 0.58% during trading on Thursday, reaching $65.53. 1,963,086 shares of the stock traded hands.

Now turning toward the technical indicators, its current distance from 20-Day Simple Moving Average is -3.94% and moving -1.35% away from 50-Day Simple Moving Average while traded up 5.25% from 200-Day Simple Moving Average. Kbc Gp Nv reported 0.17% of its portfolio in Intercontinental Exchange Inc (NYSE:ICE). The company reported $3.21 EPS for the quarter, missing the consensus estimate of $3.22 by $0.01. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. Intercontinental Exchange had a return on equity of 10.57% and a net margin of 25.29%. Intercontinental Exchange's revenue for the quarter was up 4.3% on a year-over-year basis. However, -1.61% over the last one month, -0.33% for the last quarter and year to date performance stands at 16.82%. Intercontinental Exchange, Inc. (NYSE:ICE) has noticeable measure of stock volatility, for this average true range is an exponential moving average (14 trading days) of the True Ranges. The shares were sold at an average price of $70.03, for a total transaction of $2,635,228.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The Agreement also contains anti-embarrassment provisions, to which ICEH will pay additional consideration for any disposition of the Sale Shares, or acquisition of further shares in Euroclear, by ICEH or an affiliate within the 12 months following closing of the Transaction (or any such acquisition or disposition that is agreed within such 12 month period, but which takes effect within the 18 months following the closing date). The shares were sold at an average price of $66.93, for a total transaction of $836,625.00. Institutional owners hold 94.20% stake in the company, while insiders ownership held at 0.40%. The disclosure for this sale can be found here. Insiders have sold 155,550 shares of company stock worth $10,394,455 in the last quarter.

Schmidt P J Investment Management Inc. cut its position in Intercontinental Exchange Inc. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & worldwide copyright and trademark laws. Moreover, Nomura Asset Mngmt Ltd has 0.09% invested in Intercontinental Exchange Inc (NYSE:ICE).

Several analysts have recently commented on the company. Intercontinental Exchange now has an average rating of "Buy" and an average target price of $60.27. Barclays PLC lifted their price objective on Intercontinental Exchange from $72.00 to $78.00 and gave the company an "overweight" rating in a research report on Tuesday, October 10th. Keefe Bruyette & Woods maintained it with "Buy" rating and $7000 target in Thursday, August 3 report.

Analysts have given a mean recommendation of 2.00 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range).



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