Balyasny Asset Management L.P. Buys 749,783 Shares of Intercontinental Exchange Inc. $ICE

Balyasny Asset Management L.P. lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 175.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,176,627 shares of the financial services provider’s stock after acquiring an additional 749,783 shares during the quarter. Balyasny Asset Management L.P. owned about 0.21% of Intercontinental Exchange worth $190,567,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Intercontinental Exchange by 18.6% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 42,139 shares of the financial services provider’s stock worth $6,837,000 after acquiring an additional 6,614 shares in the last quarter. Align Financial LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $6,427,000. Freestone Grove Partners LP acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth about $59,857,000. Guggenheim Capital LLC lifted its position in shares of Intercontinental Exchange by 10.0% during the 4th quarter. Guggenheim Capital LLC now owns 249,584 shares of the financial services provider’s stock worth $40,423,000 after purchasing an additional 22,709 shares during the last quarter. Finally, Viking Global Investors LP acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth about $777,926,000. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In other news, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares in the company, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the sale, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 13,425 shares of company stock worth $2,046,324. Insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ICE. Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research report on Friday, March 6th. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research report on Thursday, June 11th. UBS Group reissued a “buy” rating and set a $205.00 price objective on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Finally, Barclays reissued an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $193.00.

Intercontinental Exchange Trading Down 4.9%

Intercontinental Exchange stock opened at $134.41 on Thursday. The business has a 50 day moving average price of $152.67 and a two-hundred day moving average price of $158.94. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market cap of $76.01 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. Intercontinental Exchange Inc. has a 12 month low of $133.73 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 EPS. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.