Corundum Group Inc. Sells 483 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Corundum Group Inc. trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 26.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,375 shares of the financial services provider’s stock after selling 483 shares during the period. Corundum Group Inc.’s holdings in Intercontinental Exchange were worth $205,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Fairscale Capital LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $25,000. Wolff Wiese Magana LLC increased its holdings in Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the period. Northwest Investment Counselors LLC acquired a new position in Intercontinental Exchange during the 3rd quarter worth about $26,000. Financial Management Professionals Inc. grew its position in shares of Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after buying an additional 87 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Intercontinental Exchange during the third quarter worth about $29,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Piper Sandler upped their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Bank of America lifted their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Intercontinental Exchange Stock Performance

ICE opened at $149.07 on Monday. The company has a market cap of $85.59 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.29 and a beta of 1.10. The company’s fifty day moving average price is $153.20 and its two-hundred day moving average price is $155.63. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The business 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 quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 EPS. On average, analysts expect that Intercontinental Exchange, Inc. will post 6.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 955 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the sale, the general counsel now directly owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the transaction, the president now directly owns 156,163 shares in the company, valued at $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,795 shares of company stock worth $2,120,572. 1.10% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.