Jane Street Group LLC Takes Position in Nasdaq Inc (NDAQ)

Jane Street Group LLC acquired a new position in shares of Nasdaq Inc (NASDAQ:NDAQ) during the fourth quarter, Holdings Channel reports. The fund acquired 3,729 shares of the financial services provider’s stock, valued at approximately $286,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Crestline Management LP bought a new stake in shares of Nasdaq during the 4th quarter worth $1,388,000. Millennium Management LLC raised its stake in shares of Nasdaq by 78.0% during the 4th quarter. Millennium Management LLC now owns 1,565,207 shares of the financial services provider’s stock worth $120,255,000 after purchasing an additional 685,770 shares during the period. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Nasdaq by 10.7% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 21,877 shares of the financial services provider’s stock worth $1,680,000 after purchasing an additional 2,107 shares during the period. Prana Capital Management LP bought a new stake in shares of Nasdaq during the 4th quarter worth $3,047,000. Finally, HBK Investments L P bought a new stake in shares of Nasdaq during the 4th quarter worth $1,421,000. 76.49% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, insider Edward S. Knight sold 13,200 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $79.41, for a total transaction of $1,048,212.00. Following the sale, the insider now directly owns 73,569 shares in the company, valued at $5,842,114.29. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Charlene T. Begley sold 4,017 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $81.37, for a total value of $326,863.29. The disclosure for this sale can be found here. Insiders sold a total of 23,668 shares of company stock worth $1,895,994 over the last 90 days. 0.40% of the stock is currently owned by company insiders.

A number of research firms have recently commented on NDAQ. Zacks Investment Research cut Nasdaq from a “buy” rating to a “hold” rating in a research note on Wednesday, April 11th. BidaskClub upgraded Nasdaq from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 3rd. Sanford C. Bernstein began coverage on Nasdaq in a research note on Monday, April 9th. They set a “market perform” rating and a $90.00 target price on the stock. Wells Fargo lifted their target price on Nasdaq from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, March 29th. Finally, Raymond James Financial lifted their target price on Nasdaq from $87.00 to $92.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Nasdaq currently has an average rating of “Hold” and an average target price of $87.04.

Shares of Nasdaq stock opened at $85.98 on Tuesday. Nasdaq Inc has a 52-week low of $65.98 and a 52-week high of $87.03. The stock has a market capitalization of $14,312.47, a P/E ratio of 21.18, a PEG ratio of 1.88 and a beta of 0.64. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.63.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.05. Nasdaq had a return on equity of 12.75% and a net margin of 18.49%. The business had revenue of $635.00 million for the quarter, compared to analysts’ expectations of $628.36 million. During the same period in the previous year, the business posted $0.95 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. sell-side analysts forecast that Nasdaq Inc will post 4.83 EPS for the current year.

Nasdaq announced that its Board of Directors has authorized a stock buyback plan on Monday, January 29th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a $0.44 dividend. This is a boost from Nasdaq’s previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, June 14th. Nasdaq’s payout ratio is currently 37.44%.

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About Nasdaq

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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Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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