Hudson Bay Capital Management LP Increases Stake in Nasdaq, Inc. $NDAQ

Hudson Bay Capital Management LP grew its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 345.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 637,121 shares of the financial services provider’s stock after acquiring an additional 494,229 shares during the period. Hudson Bay Capital Management LP owned 0.11% of Nasdaq worth $56,971,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Virtu Financial LLC bought a new position in Nasdaq in the 1st quarter worth $253,000. HighTower Advisors LLC increased its position in Nasdaq by 3.7% in the first quarter. HighTower Advisors LLC now owns 228,675 shares of the financial services provider’s stock worth $17,347,000 after buying an additional 8,248 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Nasdaq by 5.3% in the first quarter. Russell Investments Group Ltd. now owns 276,861 shares of the financial services provider’s stock worth $20,973,000 after buying an additional 13,820 shares during the period. Kovitz Investment Group Partners LLC raised its stake in shares of Nasdaq by 222.3% in the first quarter. Kovitz Investment Group Partners LLC now owns 22,976 shares of the financial services provider’s stock worth $1,743,000 after buying an additional 15,848 shares during the period. Finally, Horizon Investments LLC lifted its position in shares of Nasdaq by 4.9% during the 1st quarter. Horizon Investments LLC now owns 5,943 shares of the financial services provider’s stock valued at $451,000 after buying an additional 279 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $85.40, for a total transaction of $179,767.00. Following the sale, the executive vice president owned 84,974 shares of the company’s stock, valued at $7,256,779.60. This represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.70% of the company’s stock.

Nasdaq Stock Down 0.3%

Shares of NDAQ stock opened at $93.57 on Friday. The company’s fifty day simple moving average is $88.52 and its two-hundred day simple moving average is $89.95. Nasdaq, Inc. has a 52 week low of $64.84 and a 52 week high of $97.63. The stock has a market cap of $53.43 billion, a P/E ratio of 33.42, a PEG ratio of 1.70 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Nasdaq had a return on equity of 16.28% and a net margin of 19.90%.The business’s revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. Analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Nasdaq’s dividend payout ratio (DPR) is 38.57%.

Analyst Upgrades and Downgrades

NDAQ has been the subject of several analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $100.00 target price (up from $99.00) on shares of Nasdaq in a report on Monday, October 13th. Cowen restated a “hold” rating on shares of Nasdaq in a research report on Wednesday, October 22nd. Barclays reaffirmed an “overweight” rating and issued a $114.00 target price (up previously from $109.00) on shares of Nasdaq in a report on Friday. Morgan Stanley raised Nasdaq from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $97.00 to $110.00 in a report on Thursday, November 20th. Finally, TD Cowen boosted their price objective on Nasdaq from $94.00 to $96.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Nasdaq presently has an average rating of “Moderate Buy” and an average price target of $101.33.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.