Mcrae Capital Management Inc. Decreases Position in Nasdaq, Inc. $NDAQ

Mcrae Capital Management Inc. lowered its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 3.1% in the third quarter, HoldingsChannel.com reports. The fund owned 279,257 shares of the financial services provider’s stock after selling 8,904 shares during the quarter. Nasdaq comprises 4.9% of Mcrae Capital Management Inc.’s portfolio, making the stock its 3rd biggest position. Mcrae Capital Management Inc.’s holdings in Nasdaq were worth $24,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of NDAQ. Cary Street Partners Investment Advisory LLC raised its position in Nasdaq by 2.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 4,935 shares of the financial services provider’s stock valued at $441,000 after purchasing an additional 110 shares during the last quarter. Leavell Investment Management Inc. raised its holdings in shares of Nasdaq by 0.4% in the second quarter. Leavell Investment Management Inc. now owns 26,156 shares of the financial services provider’s stock valued at $2,339,000 after buying an additional 116 shares during the last quarter. Fielder Capital Group LLC raised its holdings in shares of Nasdaq by 3.0% in the second quarter. Fielder Capital Group LLC now owns 4,253 shares of the financial services provider’s stock valued at $380,000 after buying an additional 122 shares during the last quarter. Freedom Investment Management Inc. lifted its position in Nasdaq by 2.3% during the 2nd quarter. Freedom Investment Management Inc. now owns 5,684 shares of the financial services provider’s stock worth $508,000 after buying an additional 128 shares in the last quarter. Finally, Advisors Capital Management LLC grew its holdings in Nasdaq by 3.4% during the 2nd quarter. Advisors Capital Management LLC now owns 3,968 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 129 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NDAQ shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Nasdaq in a research report on Friday, January 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $108.00 price objective on shares of Nasdaq in a report on Friday, January 30th. Barclays reissued an “overweight” rating and issued a $115.00 target price (up from $114.00) on shares of Nasdaq in a research note on Friday, January 30th. Morgan Stanley set a $116.00 target price on Nasdaq and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, TD Cowen raised their price target on Nasdaq from $104.00 to $105.00 and gave the company a “hold” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Nasdaq presently has a consensus rating of “Moderate Buy” and an average price target of $103.13.

Nasdaq Price Performance

Nasdaq stock opened at $82.13 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $46.69 billion, a P/E ratio of 26.58, a PEG ratio of 1.32 and a beta of 1.02. The business has a 50-day moving average of $94.24 and a 200-day moving average of $91.87. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $101.79.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the company posted $0.76 EPS. Nasdaq’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.08 annualized dividend and a dividend yield of 1.3%. Nasdaq’s payout ratio is 34.95%.

Insiders Place Their Bets

In other Nasdaq news, CEO Adena T. Friedman sold 300,000 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $96.91, for a total value of $29,073,000.00. Following the completion of the sale, the chief executive officer directly owned 1,924,903 shares in the company, valued at $186,542,349.73. This represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Zecca sold 4,500 shares of Nasdaq stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total value of $450,045.00. Following the transaction, the executive vice president owned 125,674 shares in the company, valued at $12,568,656.74. This trade represents a 3.46% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 604,500 shares of company stock valued at $58,440,045. 0.70% of the stock is owned by corporate insiders.

Nasdaq Profile

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.