Short Interest in Nasdaq, Inc. (NASDAQ:NDAQ) Decreases By 17.0%
by Danessa Lincoln · The Markets DailyNasdaq, Inc. (NASDAQ:NDAQ – Get Free Report) was the recipient of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 6,600,984 shares, a decline of 17.0% from the February 12th total of 7,948,974 shares. Based on an average daily volume of 4,567,497 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.2% of the company’s stock are short sold. Currently, 1.2% of the company’s stock are short sold. Based on an average daily volume of 4,567,497 shares, the days-to-cover ratio is currently 1.4 days.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Nasdaq in a research note on Friday, January 9th. TD Cowen upgraded shares of Nasdaq from a “hold” rating to a “buy” rating and raised their target price for the stock from $105.00 to $106.00 in a report on Thursday, February 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $108.00 target price on shares of Nasdaq in a research report on Friday, January 30th. Argus raised Nasdaq to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, UBS Group restated a “buy” rating and issued a $120.00 price target (up from $115.00) on shares of Nasdaq in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $103.80.
View Our Latest Research Report on NDAQ
Insiders Place Their Bets
In related news, EVP John Zecca sold 4,500 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total transaction of $450,045.00. Following the sale, the executive vice president directly owned 125,674 shares of the company’s stock, valued at $12,568,656.74. This trade represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adena T. Friedman sold 300,000 shares of Nasdaq stock in a transaction dated Monday, February 2nd. The stock was 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 of the company’s stock, valued at $186,542,349.73. The trade was a 13.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 697,340 shares of company stock worth $66,803,072. Corporate insiders own 0.70% of the company’s stock.
Hedge Funds Weigh In On Nasdaq
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NDAQ. Vanguard Group Inc. boosted its position in shares of Nasdaq by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 59,916,887 shares of the financial services provider’s stock valued at $5,819,727,000 after acquiring an additional 268,481 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Nasdaq by 4.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider’s stock worth $2,683,485,000 after purchasing an additional 1,258,964 shares during the last quarter. State Street Corp increased its position in Nasdaq by 1.3% in the fourth quarter. State Street Corp now owns 19,878,600 shares of the financial services provider’s stock worth $1,930,808,000 after purchasing an additional 259,408 shares during the last quarter. Geode Capital Management LLC lifted its position in Nasdaq by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 12,851,894 shares of the financial services provider’s stock valued at $1,243,807,000 after purchasing an additional 378,577 shares during the last quarter. Finally, Morgan Stanley lifted its position in Nasdaq by 62.6% during the fourth quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider’s stock valued at $900,061,000 after purchasing an additional 3,567,843 shares during the last quarter. 72.47% of the stock is owned by institutional investors.
Nasdaq Stock Performance
Shares of NASDAQ:NDAQ traded down $0.92 during midday trading on Wednesday, hitting $85.55. The company had a trading volume of 326,272 shares, compared to its average volume of 4,658,107. Nasdaq has a 12-month low of $64.84 and a 12-month high of $101.79. The company has a fifty day moving average of $90.10 and a two-hundred day moving average of $90.56. The company has a market cap of $48.63 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 1.57 and a beta of 1.03. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.01 and a quick ratio of 1.01.
Nasdaq (NASDAQ:NDAQ – Get Free Report) 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%.Nasdaq’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. On average, equities research analysts expect that Nasdaq will post 3.18 EPS for the current fiscal year.
Nasdaq Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, March 16th. Nasdaq’s payout ratio is currently 34.95%.
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.