Olstein Capital Management L.P. Makes New Investment in Nasdaq, Inc. (NASDAQ:NDAQ)

Olstein Capital Management L.P. bought a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 59,000 shares of the financial services provider’s stock, valued at approximately $4,308,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Washington Trust Bank bought a new stake in Nasdaq during the 3rd quarter worth approximately $225,000. Graypoint LLC raised its stake in Nasdaq by 3.2% during the 3rd quarter. Graypoint LLC now owns 10,068 shares of the financial services provider’s stock worth $735,000 after acquiring an additional 313 shares during the period. Focused Wealth Management Inc bought a new stake in shares of Nasdaq during the third quarter valued at approximately $35,000. Crestwood Advisors Group LLC raised its position in shares of Nasdaq by 4.2% during the third quarter. Crestwood Advisors Group LLC now owns 3,670 shares of the financial services provider’s stock valued at $268,000 after buying an additional 149 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of Nasdaq by 8.1% during the third quarter. Amalgamated Bank now owns 81,239 shares of the financial services provider’s stock valued at $5,931,000 after buying an additional 6,104 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Down 0.2 %

Shares of NDAQ stock traded down $0.12 on Thursday, hitting $77.47. The stock had a trading volume of 113,150 shares, compared to its average volume of 2,880,123. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.84. The business has a 50 day moving average price of $73.35 and a 200 day moving average price of $66.51. The company has a market cap of $44.53 billion, a PE ratio of 46.46, a P/E/G ratio of 2.93 and a beta of 0.95. Nasdaq, Inc. has a one year low of $51.20 and a one year high of $79.27.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Research analysts anticipate that Nasdaq, Inc. will post 2.78 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq’s payout ratio is currently 57.49%.

Insider Buying and Selling

In related news, EVP Bradley J. Peterson sold 13,642 shares of Nasdaq stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.32, for a total value of $1,027,515.44. Following the completion of the sale, the executive vice president now directly owns 142,830 shares in the company, valued at $10,757,955.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Bradley J. Peterson sold 13,642 shares of Nasdaq stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.32, for a total value of $1,027,515.44. Following the completion of the sale, the executive vice president now directly owns 142,830 shares in the company, valued at $10,757,955.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Pc Nelson Griggs sold 6,000 shares of Nasdaq stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.71, for a total transaction of $454,260.00. Following the completion of the sale, the insider now owns 215,563 shares of the company’s stock, valued at $16,320,274.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NDAQ has been the topic of several recent analyst reports. Raymond James upgraded shares of Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price objective on the stock in a research report on Monday, October 14th. Piper Sandler lifted their price objective on shares of Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Oppenheimer lifted their price objective on shares of Nasdaq from $84.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Argus lifted their price objective on shares of Nasdaq from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Bank of America reduced their price objective on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Nasdaq presently has an average rating of “Moderate Buy” and a consensus target price of $80.33.

Nasdaq 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.