Los Angeles Capital Management & Equity Research Inc. bought a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 22,325 shares of the financial services provider’s stock, valued at approximately $1,596,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of Nasdaq by 3.4% in the first quarter. Pacer Advisors Inc. now owns 2,365 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 77 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Nasdaq in the first quarter valued at approximately $190,000. IFP Advisors Inc lifted its position in shares of Nasdaq by 9.4% in the second quarter. IFP Advisors Inc now owns 2,837 shares of the financial services provider’s stock valued at $203,000 after acquiring an additional 243 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Nasdaq in the first quarter valued at approximately $204,000. Finally, Advisor Partners LLC purchased a new position in shares of Nasdaq in the second quarter valued at approximately $214,000. Institutional investors and hedge funds own 74.37% of the company’s stock.
NDAQ has been the topic of several research reports. BidaskClub upgraded Nasdaq from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Barclays PLC initiated coverage on Nasdaq in a research report on Friday, September 8th. They issued an “overweight” rating and a $85.00 target price on the stock. Royal Bank Of Canada set a $74.00 target price on Nasdaq and gave the company a “hold” rating in a research report on Monday, July 17th. Jefferies Group LLC restated a “hold” rating and issued a $71.00 target price (up previously from $68.00) on shares of Nasdaq in a research report on Monday, July 17th. Finally, Zacks Investment Research downgraded Nasdaq from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $76.10.
In related news, insider Ann M. Dennison sold 1,170 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $76.32, for a total value of $89,294.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lars Wedenborn sold 3,045 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $76.13, for a total value of $231,815.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,844 shares of company stock worth $2,788,100. 1.60% of the stock is owned by corporate insiders.
Shares of Nasdaq, Inc. (NASDAQ NDAQ) opened at 74.75 on Monday. The firm has a market cap of $12.47 billion, a PE ratio of 56.80 and a beta of 0.77. Nasdaq, Inc. has a 12-month low of $63.30 and a 12-month high of $77.75. The company has a 50 day moving average price of $75.24 and a 200 day moving average price of $71.18.
Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. Nasdaq had a return on equity of 12.19% and a net margin of 5.76%. The firm had revenue of $602.00 million for the quarter, compared to analyst estimates of $596.55 million. During the same quarter in the prior year, the company earned $0.91 EPS. Nasdaq’s revenue was up 7.7% on a year-over-year basis. On average, analysts forecast that Nasdaq, Inc. will post $4.17 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, September 14th. Nasdaq’s payout ratio is currently 118.75%.
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Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
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