Reinhart Partners LLC. Has $5.33 Million Holdings in Intercontinental Exchange Inc. $ICE

Reinhart Partners LLC. grew its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 16.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,336 shares of the financial services provider’s stock after acquiring an additional 6,108 shares during the period. Reinhart Partners LLC.’s holdings in Intercontinental Exchange were worth $5,335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Ares Financial Consulting LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $25,000. Brooklands Fund Management Ltd acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at $28,000. Swiss RE Ltd. bought a new position in Intercontinental Exchange in the fourth quarter valued at about $28,000. Steph & Co. boosted its holdings in Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 89 shares during the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new stake in Intercontinental Exchange in the fourth quarter worth about $30,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ICE has been the subject of several recent research reports. Weiss Ratings raised Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Morgan Stanley lowered their price target on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Barclays reissued an “overweight” rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Piper Sandler reduced their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

Insider Buying and Selling at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at $3,945,604.96. The trade was a 9.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,725 shares of company stock worth $3,133,148 over the last ninety days. 0.84% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Up 0.4%

NYSE:ICE opened at $150.35 on Friday. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $189.35. The business’s 50-day moving average price is $139.52 and its two-hundred day moving average price is $152.97. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $84.40 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.48 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 EPS. On average, equities analysts expect that Intercontinental Exchange Inc. will post 8.08 earnings per share for the current year.

Intercontinental Exchange Company Profile

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.