Kornitzer Capital Management Inc. KS Sells 5,814 Shares of Intercontinental Exchange Inc (NYSE:ICE)

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 8.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,537 shares of the financial services provider’s stock after selling 5,814 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Intercontinental Exchange were worth $5,770,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake in Intercontinental Exchange by 3.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 3,627 shares of the financial services provider’s stock valued at $325,000 after acquiring an additional 110 shares in the last quarter. Brandywine Oak Private Wealth LLC raised its stake in shares of Intercontinental Exchange by 3.6% during the 2nd quarter. Brandywine Oak Private Wealth LLC now owns 3,247 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 113 shares in the last quarter. HCR Wealth Advisors raised its stake in shares of Intercontinental Exchange by 0.8% during the 2nd quarter. HCR Wealth Advisors now owns 14,559 shares of the financial services provider’s stock worth $1,251,000 after purchasing an additional 113 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Intercontinental Exchange by 0.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 13,857 shares of the financial services provider’s stock worth $1,191,000 after purchasing an additional 114 shares in the last quarter. Finally, Sandy Spring Bank raised its stake in shares of Intercontinental Exchange by 41.8% during the 2nd quarter. Sandy Spring Bank now owns 404 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 89.91% of the company’s stock.

Shares of ICE stock traded down $0.17 during trading on Friday, reaching $90.47. 2,029,000 shares of the company’s stock were exchanged, compared to its average volume of 2,434,733. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $49.79 billion, a PE ratio of 25.20, a PEG ratio of 2.77 and a beta of 0.49. Intercontinental Exchange Inc has a twelve month low of $69.69 and a twelve month high of $95.56. The firm’s fifty day moving average price is $92.85 and its 200-day moving average price is $88.68.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.11. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Intercontinental Exchange had a return on equity of 12.79% and a net margin of 31.97%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 EPS. As a group, analysts anticipate that Intercontinental Exchange Inc will post 3.9 EPS for the current fiscal year.

A number of brokerages have recently issued reports on ICE. Compass Point set a $105.00 price objective on Intercontinental Exchange and gave the stock a “buy” rating in a research note on Friday, November 1st. Citigroup set a $101.00 price objective on Intercontinental Exchange and gave the stock a “hold” rating in a research note on Monday, October 21st. FIX began coverage on Intercontinental Exchange in a research note on Monday, September 16th. They set an “outperform” rating and a $100.00 price objective on the stock. ValuEngine cut Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Oppenheimer began coverage on Intercontinental Exchange in a research note on Monday, September 16th. They set an “outperform” rating and a $100.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus price target of $95.46.

In related news, CAO James W. Namkung sold 3,167 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $95.55, for a total transaction of $302,606.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $92.41, for a total value of $3,696,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 123,040 shares of company stock worth $11,459,809 over the last three months. 1.50% of the stock is owned by insiders.

About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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