Nasdaq Inc (NASDAQ:NDAQ) Sees Large Growth in Short Interest

Nasdaq Inc (NASDAQ:NDAQ) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 3,220,000 shares, an increase of 33.6% from the September 30th total of 2,410,000 shares. Based on an average trading volume of 648,400 shares, the days-to-cover ratio is presently 5.0 days. Approximately 2.8% of the company’s shares are sold short.

NDAQ stock opened at $103.27 on Thursday. The business has a 50 day moving average price of $99.31 and a 200 day moving average price of $97.46. The stock has a market cap of $16.58 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 2.64 and a beta of 0.64. Nasdaq has a fifty-two week low of $75.49 and a fifty-two week high of $105.26. The company has a quick ratio of 0.89, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.06. The firm had revenue of $632.00 million during the quarter, compared to analysts’ expectations of $627.44 million. Nasdaq had a return on equity of 15.22% and a net margin of 12.16%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 earnings per share. As a group, sell-side analysts anticipate that Nasdaq will post 4.96 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.82%. The ex-dividend date is Thursday, December 12th. Nasdaq’s payout ratio is 38.84%.

NDAQ has been the subject of a number of analyst reports. Oppenheimer initiated coverage on Nasdaq in a research report on Monday, September 16th. They set an “outperform” rating and a $111.00 price objective for the company. UBS Group downgraded Nasdaq from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $113.00 to $107.00 in a research report on Friday, October 25th. Deutsche Bank boosted their price objective on Nasdaq from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. ValuEngine downgraded Nasdaq from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, BidaskClub downgraded Nasdaq from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $102.70.

In other news, EVP Pc Nelson Griggs sold 1,444 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $101.09, for a total transaction of $145,973.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lars Ottersgard sold 4,861 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $99.14, for a total value of $481,919.54. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of NDAQ. CWM LLC lifted its stake in Nasdaq by 71.2% in the third quarter. CWM LLC now owns 250 shares of the financial services provider’s stock valued at $25,000 after buying an additional 104 shares during the last quarter. Whittier Trust Co. lifted its stake in Nasdaq by 1,261.5% in the third quarter. Whittier Trust Co. now owns 354 shares of the financial services provider’s stock valued at $35,000 after buying an additional 328 shares during the last quarter. Doyle Wealth Management purchased a new stake in Nasdaq in the second quarter valued at approximately $62,000. Benjamin Edwards Inc. lifted its stake in Nasdaq by 28.7% in the second quarter. Benjamin Edwards Inc. now owns 883 shares of the financial services provider’s stock valued at $85,000 after buying an additional 197 shares during the last quarter. Finally, Pittenger & Anderson Inc. lifted its stake in Nasdaq by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 900 shares of the financial services provider’s stock valued at $87,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 76.16% of the company’s stock.

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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