Nasdaq Inc (NASDAQ:NDAQ) Sees Large Drop in Short Interest

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Nasdaq Inc (NASDAQ:NDAQ) saw a significant decrease in short interest in May. As of May 15th, there was short interest totalling 2,800,000 shares, a decrease of 5.1% from the April 30th total of 2,950,000 shares. Based on an average trading volume of 1,190,000 shares, the short-interest ratio is presently 2.4 days. Currently, 2.5% of the company’s stock are sold short.

Several brokerages recently commented on NDAQ. BidaskClub upgraded shares of Nasdaq from a “hold” rating to a “buy” rating in a report on Monday, March 30th. Wells Fargo & Co reduced their target price on shares of Nasdaq from $128.00 to $116.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Compass Point reduced their target price on shares of Nasdaq from $113.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, April 6th. Citigroup increased their target price on shares of Nasdaq from $100.00 to $107.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Finally, Bank of America cut their price target on shares of Nasdaq from $114.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Nasdaq presently has an average rating of “Buy” and a consensus target price of $111.00.

In related news, EVP Bjorn Sibbern sold 3,012 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $111.15, for a total transaction of $334,783.80. Following the completion of the transaction, the executive vice president now owns 13,599 shares in the company, valued at $1,511,528.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeremy Skule sold 2,755 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $109.44, for a total transaction of $301,507.20. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Nasdaq by 9.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 15,073,719 shares of the financial services provider’s stock worth $1,431,250,000 after buying an additional 1,249,999 shares during the last quarter. Capital World Investors increased its position in Nasdaq by 5.4% during the first quarter. Capital World Investors now owns 8,275,629 shares of the financial services provider’s stock worth $785,771,000 after acquiring an additional 427,577 shares during the period. State Street Corp increased its position in Nasdaq by 2.0% during the fourth quarter. State Street Corp now owns 5,258,710 shares of the financial services provider’s stock worth $563,208,000 after acquiring an additional 103,610 shares during the period. Capital Research Global Investors increased its position in Nasdaq by 76.4% during the fourth quarter. Capital Research Global Investors now owns 4,851,308 shares of the financial services provider’s stock worth $519,575,000 after acquiring an additional 2,101,507 shares during the period. Finally, Geode Capital Management LLC increased its position in Nasdaq by 1.3% during the first quarter. Geode Capital Management LLC now owns 1,990,884 shares of the financial services provider’s stock worth $188,703,000 after acquiring an additional 25,091 shares during the period. Institutional investors own 75.99% of the company’s stock.

Shares of NDAQ stock opened at $115.34 on Friday. The stock has a market cap of $18.70 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.69 and a beta of 0.75. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.97 and a quick ratio of 0.97. The company has a fifty day moving average price of $106.83 and a two-hundred day moving average price of $105.93. Nasdaq has a one year low of $71.66 and a one year high of $120.23.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.04. The company had revenue of $701.00 million during the quarter, compared to analysts’ expectations of $692.43 million. Nasdaq had a net margin of 15.94% and a return on equity of 16.08%. Nasdaq’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 EPS. As a group, equities research analysts anticipate that Nasdaq will post 5.57 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Thursday, June 11th. This is a boost from Nasdaq’s previous quarterly dividend of $0.47. Nasdaq’s dividend payout ratio (DPR) is currently 37.60%.

About Nasdaq

Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.

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