Mattern Capital Management LLC Reduces Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Mattern Capital Management LLC trimmed its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,645 shares of the financial services provider’s stock after selling 668 shares during the quarter. Mattern Capital Management LLC’s holdings in Intercontinental Exchange were worth $9,742,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Annapolis Financial Services LLC raised its holdings in shares of Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares during the period. New Millennium Group LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter worth $25,000. International Assets Investment Management LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter worth $25,000. Fairscale Capital LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter worth $25,000. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $165.31 on Friday. The business has a 50-day moving average of $161.61 and a 200 day moving average of $147.28. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $167.64. The stock has a market capitalization of $94.91 billion, a price-to-earnings ratio of 40.92, a price-to-earnings-growth ratio of 2.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The company had revenue of $2.32 billion during 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 revenue for the quarter was up 22.7% on a year-over-year basis. During the same period last year, the business posted $1.43 EPS. As a group, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.12 earnings per share for the current year.

Insider Activity

In other news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the transaction, the chief accounting officer now owns 16,665 shares in the company, valued at approximately $2,666,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO James W. Namkung sold 1,171 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at $2,666,400. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ICE shares. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a report on Monday, October 14th. TD Cowen initiated coverage on Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft increased their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, The Goldman Sachs Group increased their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.93.

About Intercontinental Exchange

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.