Nasdaq (NASDAQ:NDAQ) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Nasdaq (NASDAQ:NDAQ) from a hold rating to a sell rating in a report published on Wednesday morning.

Several other research analysts also recently issued reports on NDAQ. JPMorgan Chase & Co. upped their price target on shares of Nasdaq from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Citigroup dropped their target price on shares of Nasdaq from $84.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday. Bank of America increased their price target on shares of Nasdaq from $103.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, April 2nd. Morgan Stanley lowered shares of Nasdaq from an “overweight” rating to an “equal weight” rating and set a $74.00 price target for the company. in a report on Tuesday. Finally, Keefe, Bruyette & Woods upped their price objective on Nasdaq from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.63.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $71.53 on Wednesday. The stock has a market capitalization of $41.14 billion, a P/E ratio of 37.26, a price-to-earnings-growth ratio of 2.12 and a beta of 1.02. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. Nasdaq has a 1 year low of $58.10 and a 1 year high of $84.15. The firm has a 50 day moving average of $76.80 and a 200-day moving average of $77.42.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates 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, sell-side analysts anticipate that Nasdaq will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Friday, March 14th. Nasdaq’s dividend payout ratio is currently 50.00%.

Insiders Place Their Bets

In other news, EVP Sarah Youngwood sold 14,959 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $73.68, for a total transaction of $1,102,179.12. Following the completion of the sale, the executive vice president now owns 59,694 shares of the company’s stock, valued at $4,398,253.92. This represents a 20.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bryan Everard Smith sold 3,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $81.56, for a total transaction of $285,460.00. Following the sale, the executive vice president now owns 55,576 shares in the company, valued at approximately $4,532,778.56. The trade was a 5.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,116 shares of company stock worth $1,434,818. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Nasdaq

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of Nasdaq by 12.3% during the fourth quarter. Allworth Financial LP now owns 1,292 shares of the financial services provider’s stock worth $104,000 after buying an additional 141 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Nasdaq by 1.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,818 shares of the financial services provider’s stock valued at $759,000 after acquiring an additional 148 shares in the last quarter. Brooklyn Investment Group boosted its position in Nasdaq by 8.5% during the 4th quarter. Brooklyn Investment Group now owns 1,899 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 148 shares during the last quarter. Crestwood Advisors Group LLC grew its stake in shares of Nasdaq by 4.1% during the 4th quarter. Crestwood Advisors Group LLC now owns 3,822 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 152 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC grew its stake in shares of Nasdaq by 1.0% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 16,303 shares of the financial services provider’s stock worth $1,260,000 after acquiring an additional 157 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

About Nasdaq

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.