Fox Run Management L.L.C. Has $1.63 Million Stock Position in Nasdaq, Inc. $NDAQ

Fox Run Management L.L.C. increased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 236.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,419 shares of the financial services provider’s stock after acquiring an additional 12,950 shares during the period. Fox Run Management L.L.C.’s holdings in Nasdaq were worth $1,629,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Front Row Advisors LLC bought a new stake in shares of Nasdaq in the 2nd quarter valued at $25,000. Twin Peaks Wealth Advisors LLC bought a new stake in Nasdaq in the second quarter valued at $27,000. Tripletail Wealth Management LLC bought a new stake in Nasdaq in the third quarter valued at $27,000. Access Investment Management LLC acquired a new stake in Nasdaq in the second quarter valued at approximately $28,000. Finally, Westside Investment Management Inc. raised its holdings in Nasdaq by 100.0% during the third quarter. Westside Investment Management Inc. now owns 318 shares of the financial services provider’s stock worth $28,000 after buying an additional 159 shares during the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

Nasdaq Stock Up 1.5%

NDAQ opened at $81.11 on Wednesday. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $101.79. The stock has a market capitalization of $46.11 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.31 and a beta of 1.02. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average price of $93.26 and a 200-day moving average price of $91.40.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.37 billion. Nasdaq had a return on equity of 16.90% and a net margin of 21.77%.During the same quarter in the previous year, the company posted $0.76 earnings per share. Nasdaq’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities research analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, March 16th. Nasdaq’s payout ratio is presently 34.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. UBS Group restated a “buy” rating and issued a $120.00 price objective (up from $115.00) on shares of Nasdaq in a research note on Monday, January 12th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $108.00 price objective on shares of Nasdaq in a research note on Friday, January 30th. Morgan Stanley set a $116.00 target price on shares of Nasdaq and gave the company an “overweight” rating in a report on Friday, January 30th. JPMorgan Chase & Co. raised their price target on Nasdaq from $100.00 to $101.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, TD Cowen increased their price objective on Nasdaq from $104.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Nasdaq presently has an average rating of “Moderate Buy” and an average target price of $103.13.

Insider Activity at Nasdaq

In other news, EVP John Zecca sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total value of $450,045.00. Following the completion of the transaction, the executive vice president directly owned 125,674 shares in the company, valued at $12,568,656.74. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adena T. Friedman sold 300,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $96.91, for a total value of $29,073,000.00. Following the completion of the sale, the chief executive officer owned 1,924,903 shares in the company, valued at approximately $186,542,349.73. This represents a 13.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 604,500 shares of company stock valued at $58,440,045. 0.70% of the stock is owned by insiders.

About Nasdaq

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.