Lombard Odier Asset Management Europe Ltd Invests $11.50 Million in Intercontinental Exchange Inc. $ICE

Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 73,104 shares of the financial services provider’s stock, valued at approximately $11,498,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Ares Financial Consulting LLC bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $25,000. Brooklands Fund Management Ltd bought a new position in Intercontinental Exchange during the fourth quarter worth $28,000. Dorato Capital Management bought a new position in Intercontinental Exchange during the fourth quarter worth $29,000. Swiss RE Ltd. acquired a new position in Intercontinental Exchange during the 4th quarter valued at $28,000. Finally, Steph & Co. raised its stake in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $145.93 on Friday. The stock has a market cap of $82.53 billion, a P/E ratio of 21.24, a PEG ratio of 1.51 and a beta of 0.94. The company’s 50-day simple moving average is $139.50 and its 200 day simple moving average is $154.08. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 30.06% and a return on equity of 14.99%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 earnings per share. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the sale, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,081,939.98. This represents a 6.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,425 shares of company stock worth $2,046,324 in the last 90 days. 0.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Weiss Ratings cut shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research report on Thursday, June 11th. Barclays lowered their price target on Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $181.58.

Intercontinental Exchange 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.