Stock Traders Buy Large Volume of Call Options on Nasdaq (NASDAQ:NDAQ)

Nasdaq Inc (NASDAQ:NDAQ) was the target of unusually large options trading on Wednesday. Stock traders bought 6,565 call options on the company. This represents an increase of 3,695% compared to the typical volume of 173 call options.

In related news, Director Charlene T. Begley sold 6,160 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $96.54, for a total transaction of $594,686.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward S. Knight sold 22,059 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $90.83, for a total transaction of $2,003,618.97. Following the sale, the insider now directly owns 95,322 shares of the company’s stock, valued at $8,658,097.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,276 shares of company stock valued at $4,117,864. Insiders own 0.50% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Marshall Wace LLP raised its stake in shares of Nasdaq by 3,534.5% in the 1st quarter. Marshall Wace LLP now owns 91,627 shares of the financial services provider’s stock valued at $8,016,000 after purchasing an additional 89,106 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Nasdaq by 45.9% in the 1st quarter. Nordea Investment Management AB now owns 297,368 shares of the financial services provider’s stock valued at $26,020,000 after purchasing an additional 93,530 shares in the last quarter. Cleararc Capital Inc. acquired a new stake in shares of Nasdaq in the 1st quarter valued at about $245,000. Jane Street Group LLC raised its stake in shares of Nasdaq by 101.5% in the 1st quarter. Jane Street Group LLC now owns 14,509 shares of the financial services provider’s stock valued at $1,269,000 after purchasing an additional 7,309 shares in the last quarter. Finally, CWM Advisors LLC raised its stake in shares of Nasdaq by 44.2% in the 1st quarter. CWM Advisors LLC now owns 9,102 shares of the financial services provider’s stock valued at $796,000 after purchasing an additional 2,792 shares in the last quarter. Institutional investors and hedge funds own 76.14% of the company’s stock.

NASDAQ:NDAQ opened at $95.45 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $15.79 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 2.61 and a beta of 0.63. Nasdaq has a 1-year low of $75.49 and a 1-year high of $97.47.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. The company had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $632.71 million. Nasdaq had a net margin of 12.67% and a return on equity of 14.60%. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 EPS. As a group, sell-side analysts expect that Nasdaq will post 4.92 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, June 13th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.44. Nasdaq’s dividend payout ratio is 36.36%.

A number of research firms have weighed in on NDAQ. Zacks Investment Research cut shares of Nasdaq from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. BidaskClub raised shares of Nasdaq from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Bank of America reissued a “neutral” rating and issued a $88.00 price objective on shares of Nasdaq in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $97.15.

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Nasdaq Company Profile

Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.

Further Reading: What is range trading?

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