Nasdaq, Inc. (NASDAQ:NDAQ – Get Free Report)’s stock price reached a new 52-week low on Tuesday after Bank of America lowered their price target on the stock from $50.00 to $49.00. The company traded as low as $47.65 and last traded at $47.86, with a volume of 223957 shares trading hands. The stock had previously closed at $48.42.
NDAQ has been the subject of a number of other reports. StockNews.com lowered shares of Nasdaq from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. UBS Group dropped their price objective on shares of Nasdaq from $62.00 to $56.00 in a report on Tuesday, June 13th. Morgan Stanley reissued an “equal weight” rating and issued a $55.00 price objective on shares of Nasdaq in a report on Tuesday, July 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Nasdaq from $56.00 to $53.00 in a report on Tuesday, June 13th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $82.00 price objective on shares of Nasdaq in a report on Thursday, July 20th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $61.50.
Insider Buying and Selling
In other news, CEO Adena T. Friedman purchased 10,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was acquired at an average cost of $51.00 per share, with a total value of $510,000.00. Following the completion of the transaction, the chief executive officer now owns 1,672,318 shares in the company, valued at approximately $85,288,218. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Nasdaq news, Director Michael R. Splinter sold 1,164 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $51.03, for a total transaction of $59,398.92. Following the completion of the sale, the director now directly owns 2,910 shares of the company’s stock, valued at $148,497.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adena T. Friedman acquired 10,000 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were bought at an average price of $51.00 per share, for a total transaction of $510,000.00. Following the acquisition, the chief executive officer now owns 1,672,318 shares of the company’s stock, valued at $85,288,218. The disclosure for this purchase can be found here. 0.75% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Nasdaq
Hedge funds have recently modified their holdings of the stock. Portside Wealth Group LLC acquired a new position in Nasdaq in the 2nd quarter worth approximately $909,000. Comerica Bank acquired a new position in Nasdaq in the 2nd quarter worth approximately $103,350,000. BOKF NA increased its holdings in Nasdaq by 0.8% in the 2nd quarter. BOKF NA now owns 54,491 shares of the financial services provider’s stock worth $2,716,000 after buying an additional 415 shares during the period. Osaic Holdings Inc. increased its holdings in Nasdaq by 6.0% in the 2nd quarter. Osaic Holdings Inc. now owns 41,572 shares of the financial services provider’s stock worth $2,070,000 after buying an additional 2,349 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its position in Nasdaq by 2,383.6% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 104,387 shares of the financial services provider’s stock worth $5,204,000 after purchasing an additional 100,184 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.
Nasdaq Trading Down 1.3 %
The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.57. The company has a 50-day simple moving average of $50.81 and a 200 day simple moving average of $52.45. The firm has a market cap of $23.49 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 5.01 and a beta of 0.91.
Nasdaq (NASDAQ:NDAQ – Get Free Report) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. Nasdaq had a return on equity of 21.92% and a net margin of 18.08%. The business had revenue of $925.00 million for the quarter, compared to analyst estimates of $914.85 million. During the same quarter in the prior year, the firm posted $0.69 EPS. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Nasdaq, Inc. will post 2.74 earnings per share for the current fiscal year.
Nasdaq Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.84%. Nasdaq’s dividend payout ratio (DPR) is 39.64%.
Nasdaq Company Profile
Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Market Platforms, Capital Access Platforms, and Anti-Financial Crime. The Market Platforms segment trading services, including equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses.