Fairbanks Capital Management Inc. Raises Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Fairbanks Capital Management Inc. increased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,708 shares of the financial services provider’s stock after buying an additional 205 shares during the period. Fairbanks Capital Management Inc.’s holdings in Intercontinental Exchange were worth $1,192,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Scarborough Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth $25,000. Annapolis Financial Services LLC increased its stake in Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 163 shares during the last quarter. New Millennium Group LLC bought a new position in Intercontinental Exchange in the second quarter valued at $25,000. International Assets Investment Management LLC bought a new position in Intercontinental Exchange in the second quarter valued at $25,000. Finally, Redmont Wealth Advisors LLC bought a new position in Intercontinental Exchange in the first quarter valued at $26,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 1.3 %

NYSE ICE opened at $160.49 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $92.14 billion, a PE ratio of 36.81, a PEG ratio of 2.82 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $163.71. The business’s 50-day moving average is $152.10 and its 200 day moving average is $141.22.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period last year, the firm earned $1.43 earnings per share. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 1,941 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total value of $311,899.29. Following the sale, the director now directly owns 26,908 shares of the company’s stock, valued at $4,323,846.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares in the company, valued at $6,397,737.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Judith A. Sprieser sold 1,941 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the completion of the sale, the director now owns 26,908 shares of the company’s stock, valued at $4,323,846.52. The disclosure for this sale can be found here. Insiders have sold 66,346 shares of company stock valued at $9,472,911 over the last ninety days. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their target price for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Barclays increased their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $154.93.

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.