Nasdaq Inc (NASDAQ:NDAQ) Sees Large Drop in Short Interest
Nasdaq Inc (NASDAQ:NDAQ) was the target of a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 2,800,000 shares, a decline of 5.1% from the April 30th total of 2,950,000 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average daily trading volume, of 1,190,000 shares, the short-interest ratio is currently 2.4 days.
Shares of NASDAQ NDAQ traded up $1.15 during trading on Friday, hitting $115.14. The company had a trading volume of 20,558 shares, compared to its average volume of 872,198. Nasdaq has a 52 week low of $71.66 and a 52 week high of $120.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $18.70 billion, a P/E ratio of 26.08, a PEG ratio of 2.71 and a beta of 0.75. The business’s 50-day moving average is $106.45 and its 200 day moving average is $105.85.
Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.04. Nasdaq had a net margin of 15.94% and a return on equity of 16.08%. The firm had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $692.43 million. During the same period in the previous year, the company posted $1.22 EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, research analysts expect that Nasdaq will post 5.57 EPS for the current year.
Several brokerages recently commented on NDAQ. BidaskClub raised Nasdaq from a “hold” rating to a “buy” rating in a report on Monday, March 30th. Deutsche Bank boosted their target price on Nasdaq from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Bank of America dropped their target price on Nasdaq from $114.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Credit Suisse Group dropped their price target on Nasdaq from $120.00 to $118.00 and set an “outperform” rating on the stock in a report on Tuesday, April 28th. Finally, Wells Fargo & Co dropped their price target on Nasdaq from $128.00 to $116.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $111.00.
In related news, EVP Jeremy Skule sold 2,755 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $109.44, for a total transaction of $301,507.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Bjorn Sibbern sold 3,012 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $111.15, for a total value of $334,783.80. Following the sale, the executive vice president now directly owns 13,599 shares in the company, valued at approximately $1,511,528.85. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of NDAQ. Stifel Financial Corp grew its position in Nasdaq by 3.5% during the 3rd quarter. Stifel Financial Corp now owns 7,925 shares of the financial services provider’s stock worth $782,000 after purchasing an additional 267 shares in the last quarter. AE Wealth Management LLC purchased a new position in shares of Nasdaq during the 4th quarter valued at $285,000. Assenagon Asset Management S.A. grew its holdings in shares of Nasdaq by 82.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,919 shares of the financial services provider’s stock valued at $634,000 after acquiring an additional 2,668 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Nasdaq by 4.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,195 shares of the financial services provider’s stock valued at $3,020,000 after acquiring an additional 1,088 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Nasdaq by 28,741.7% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 288,417 shares of the financial services provider’s stock valued at $30,889,000 after acquiring an additional 287,417 shares in the last quarter. Hedge funds and other institutional investors own 75.99% of the company’s stock.
Nasdaq Company Profile
Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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