Arrowstreet Capital Limited Partnership Acquires 213,606 Shares of Nasdaq, Inc. $NDAQ

Arrowstreet Capital Limited Partnership raised its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 71.0% in the second quarter, Holdings Channel.com reports. The fund owned 514,451 shares of the financial services provider’s stock after acquiring an additional 213,606 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Nasdaq were worth $46,002,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NDAQ. Bruce G. Allen Investments LLC raised its holdings in shares of Nasdaq by 72.7% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 120 shares in the last quarter. Access Investment Management LLC acquired a new position in Nasdaq during the second quarter worth $28,000. CVA Family Office LLC raised its holdings in Nasdaq by 137.4% during the second quarter. CVA Family Office LLC now owns 368 shares of the financial services provider’s stock valued at $33,000 after buying an additional 213 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Nasdaq in the first quarter worth about $34,000. Finally, Evelyn Partners Asset Management Ltd lifted its position in shares of Nasdaq by 268.6% in the second quarter. Evelyn Partners Asset Management Ltd now owns 387 shares of the financial services provider’s stock worth $35,000 after buying an additional 282 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Insider Activity

In other news, EVP Jeremy Skule sold 2,105 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total transaction of $179,767.00. Following the sale, the executive vice president directly owned 84,974 shares in the company, valued at approximately $7,256,779.60. The trade was a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $90.22 on Friday. The firm’s 50-day moving average is $88.10 and its 200-day moving average is $89.54. The company has a market cap of $51.51 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 1.64 and a beta of 1.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99. Nasdaq, Inc. has a 52-week low of $64.84 and a 52-week high of $97.63.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the company earned $0.74 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. Equities research analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 5th. Nasdaq’s dividend payout ratio (DPR) is presently 38.57%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NDAQ. Raymond James Financial reissued an “outperform” rating and issued a $100.00 price objective (up from $99.00) on shares of Nasdaq in a research note on Monday, October 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $108.00 price target on shares of Nasdaq in a report on Thursday, October 9th. Cowen reissued a “hold” rating on shares of Nasdaq in a research report on Wednesday, October 22nd. Barclays set a $109.00 price objective on shares of Nasdaq and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, TD Cowen raised their target price on shares of Nasdaq from $94.00 to $96.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Nasdaq has a consensus rating of “Moderate Buy” and an average target price of $101.00.

Nasdaq Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.