Elkhorn Investments LLC trimmed its stake in Nasdaq Inc (NASDAQ:NDAQ) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,719 shares of the financial services provider’s stock after selling 770 shares during the quarter. Nasdaq comprises about 1.1% of Elkhorn Investments LLC’s holdings, making the stock its 19th biggest position. Elkhorn Investments LLC’s holdings in Nasdaq were worth $1,406,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. Delpha Capital Management LLC acquired a new stake in Nasdaq in the fourth quarter worth $103,000. Delta Asset Management LLC TN grew its holdings in Nasdaq by 6,087.0% in the fourth quarter. Delta Asset Management LLC TN now owns 1,423 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,400 shares during the period. Invictus RG acquired a new stake in Nasdaq in the third quarter worth $111,000. ARK Investment Management LLC acquired a new stake in Nasdaq in the fourth quarter worth $122,000. Finally, Cerebellum GP LLC acquired a new stake in Nasdaq in the fourth quarter worth $125,000. Institutional investors and hedge funds own 76.87% of the company’s stock.
Shares of Nasdaq Inc (NASDAQ:NDAQ) traded down $0.50 during midday trading on Wednesday, hitting $84.75. 37,712 shares of the stock were exchanged, compared to its average volume of 1,017,061. The firm has a market capitalization of $14,305.89, a PE ratio of 20.31, a P/E/G ratio of 1.84 and a beta of 0.70. Nasdaq Inc has a 52-week low of $65.98 and a 52-week high of $87.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.05 and a quick ratio of 1.05.
Nasdaq declared that its board has authorized a share repurchase plan on Monday, January 29th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Thursday, March 15th. Nasdaq’s payout ratio is currently 35.19%.
In related news, insider Edward S. Knight sold 13,200 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $79.41, for a total transaction of $1,048,212.00. Following the transaction, the insider now directly owns 73,569 shares of the company’s stock, valued at $5,842,114.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradley J. Peterson sold 19,169 shares of the firm’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $80.70, for a total transaction of $1,546,938.30. Following the transaction, the insider now directly owns 32,214 shares in the company, valued at $2,599,669.80. The disclosure for this sale can be found here. Insiders have sold 42,837 shares of company stock worth $3,442,932 over the last three months. 1.60% of the stock is owned by insiders.
A number of brokerages have recently issued reports on NDAQ. Zacks Investment Research cut shares of Nasdaq from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub upgraded shares of Nasdaq from a “hold” rating to a “buy” rating in a report on Thursday, March 8th. Deutsche Bank lifted their price objective on shares of Nasdaq from $89.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, March 6th. UBS Group reiterated a “buy” rating and set a $100.00 price objective (up from $97.00) on shares of Nasdaq in a report on Tuesday, March 6th. Finally, ValuEngine upgraded shares of Nasdaq from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $84.23.
Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
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