Eminence Capital Lp buys $195,019,300 stake in Intercontinental Exchange Inc (ICE)

Intercontinental Exchange Inc (ICE) : Eminence Capital Lp scooped up 24,320 additional shares in Intercontinental Exchange Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 699,897 shares of Intercontinental Exchange Inc which is valued at $195,019,300.Intercontinental Exchange Inc makes up approximately 3.23% of Eminence Capital Lp’s portfolio.

Other Hedge Funds, Including , Twin Tree Management Lp reduced its stake in ICE by selling 5,516 shares or 92.63% in the most recent quarter. The Hedge Fund company now holds 439 shares of ICE which is valued at $122,323. Intercontinental Exchange Inc makes up approx 0.02% of Twin Tree Management Lp’s portfolio.Meiji Yasuda Asset Management Co Ltd. boosted its stake in ICE in the latest quarter, The investment management firm added 770 additional shares and now holds a total of 2,645 shares of Intercontinental Exchange Inc which is valued at $737,003. Intercontinental Exchange Inc makes up approx 0.10% of Meiji Yasuda Asset Management Co Ltd.’s portfolio.Matterhorn Capital Management reduced its stake in ICE by selling 4,339 shares or 42.06% in the most recent quarter. The Hedge Fund company now holds 5,977 shares of ICE which is valued at $1,661,726. Intercontinental Exchange Inc makes up approx 1.03% of Matterhorn Capital Management’s portfolio.

Intercontinental Exchange Inc opened for trading at $282.57 and hit $286.47 on the upside on Thursday, eventually ending the session at $284.35, with a gain of 0.83% or 2.33 points. The heightened volatility saw the trading volume jump to 7,40,731 shares. Company has a market cap of $33,876 M.

On the company’s financial health, Intercontinental Exchange Inc reported $3.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $3.37. The company had revenue of $1129.00 million for the quarter, compared to analysts expectations of $1120.80 million. The company’s revenue was up 41.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.90 EPS.

Investors should note that on Aug 3, 2016, Intercontinental Exchange Inc announced a cash dividend of $0.8500. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on Intercontinental Exchange Inc. Company shares were Reiterated by Barclays on Aug 9, 2016 to “Overweight”, Firm has raised the Price Target to $ 307 from a previous price target of $295 .Company shares were Reiterated by Deutsche Bank on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 304 from a previous price target of $295 .Company shares were Reiterated by RBC Capital Mkts on Aug 4, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 282 from a previous price target of $255 .

Intercontinental Exchange Inc. (ICE) is a global operator of regulated exchanges clearing houses and data services for financial and commodity markets. The Company operates marketplaces for trading and clearing an array of securities and derivatives contracts across asset classes including energy and agricultural commodities equities and equity derivatives among others. Its regulated exchanges include futures exchanges in the United States United Kingdom Canada Singapore and Europe three securities exchanges and two equity options exchanges. The Company also operates over-the-counter (OTC) markets for physical energy and credit default swaps (CDS). Its products and services include Regulated Energy Futures Contracts Regulated Agricultural Futures Contracts Regulated Financial Futures Contracts Securities Products and Listings Credit Derivatives Products OTC Energy Products ICE Data Services and New York Stock Exchange (NYSE) Data Services.

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