Longboard Asset Management LP Buys New Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

Longboard Asset Management LP bought a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) in the fourth quarter, HoldingsChannel.com reports. The fund bought 2,733 shares of the financial services provider’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Citizens Financial Group Inc. RI grew its holdings in shares of Nasdaq by 3.6% in the third quarter. Citizens Financial Group Inc. RI now owns 3,975 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 137 shares in the last quarter. First Pacific Financial boosted its stake in Nasdaq by 1.0% during the third quarter. First Pacific Financial now owns 13,842 shares of the financial services provider’s stock worth $1,011,000 after buying an additional 142 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Nasdaq by 1.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 9,818 shares of the financial services provider’s stock worth $759,000 after buying an additional 148 shares during the period. Brooklyn Investment Group boosted its stake in Nasdaq by 8.5% during the fourth quarter. Brooklyn Investment Group now owns 1,899 shares of the financial services provider’s stock worth $147,000 after buying an additional 148 shares during the period. Finally, Crestwood Advisors Group LLC boosted its stake in Nasdaq by 4.2% during the third quarter. Crestwood Advisors Group LLC now owns 3,670 shares of the financial services provider’s stock worth $268,000 after buying an additional 149 shares during the period. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nasdaq news, EVP Jeremy Skule sold 12,075 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $78.75, for a total value of $950,906.25. Following the completion of the transaction, the executive vice president now directly owns 102,505 shares in the company, valued at approximately $8,072,268.75. The trade was a 10.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Bryan Everard Smith sold 3,500 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $81.56, for a total transaction of $285,460.00. Following the completion of the transaction, the executive vice president now owns 55,576 shares of the company’s stock, valued at $4,532,778.56. This represents a 5.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Nasdaq Stock Performance

NDAQ stock opened at $81.72 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.99 and a quick ratio of 0.95. The business has a 50-day moving average price of $79.54 and a 200 day moving average price of $75.13. The company has a market capitalization of $46.97 billion, a P/E ratio of 42.56, a PEG ratio of 2.12 and a beta of 0.99. Nasdaq, Inc. has a 1-year low of $54.90 and a 1-year high of $83.77.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. As a group, equities research analysts forecast that Nasdaq, Inc. will post 3.17 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 1.17%. Nasdaq’s dividend payout ratio is presently 50.00%.

Analysts Set New Price Targets

Several research firms have commented on NDAQ. TD Cowen dropped their price objective on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Raymond James lifted their price objective on shares of Nasdaq from $83.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. UBS Group lifted their price objective on shares of Nasdaq from $79.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and set a $95.00 target price on shares of Nasdaq in a research note on Thursday, January 30th. Finally, Oppenheimer boosted their target price on shares of Nasdaq from $86.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Nasdaq has a consensus rating of “Moderate Buy” and an average target price of $86.88.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.