IntercontinentalExchange Inc (NYSE:ICE) has seen an increase in hedge fund sentiment of late.
The company recently reported that “speculators lowered by more than 20% their bets that the price of Brent crude would rise, the largest fall since June.” The delivery of critical information for traders and investors continues to position the company in a prominent position.
Now, it’s important to take a glance at the latest action surrounding IntercontinentalExchange Inc (NYSE:ICE).
Hedge fund activity in IntercontinentalExchange Inc (NYSE:ICE)
At the end of the third quarter, a total of 35 of the hedge funds Insider Monkey tracks were bullish on this stock, a change of 3 percent from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were upping their holdings meaningfully.
Of the funds tracked by Insider Monkey, Highfields Capital Management, managed by Jonathon Jacobson, holds the most valuable position in IntercontinentalExchange Inc (NYSE:ICE). Highfields Capital Management has a $385.3 million position in the stock, comprising 3 percent of its 13F portfolio. Sitting at the No. 2 spot is Senator Investment Group, led by Doug Silverman and Alexander Klabin, holding a $127 million position; the fund has 1.8 percent of its 13F portfolio invested in the stock. Some other hedge funds that are bullish consist of Ken Griffin’s Citadel Investment Group, Jim Simons’s Renaissance Technologies and Glenn Russell Dubin’s Highbridge Capital Management.
As industrywide interest jumped, key money managers have been driving this bullishness. Alkeon Capital Management, managed by Panayotis Takis Sparaggis, assembled the most valuable position in IntercontinentalExchange Inc (NYSE:ICE). Alkeon Capital Management had 67.1 million invested in the company at the end of the quarter. Richard Gerson and Navroz D. Udwadia’s Falcon Edge Capital also initiated a $48.8 million position during the quarter. The other funds with new positions in the stock are Paul Tudor Jones’s Tudor Investment Corp, Dmitry Balyasny’s Balyasny Asset Management, and Eric Sprott’s Sprott Asset Management.
How are insiders trading IntercontinentalExchange Inc (NYSE:ICE)?
Insider trading activity, especially when it’s bullish, is at its handiest when the company in question has experienced transactions within the past 180 days. Over the latest 180-day time period, IntercontinentalExchange Inc (NYSE:ICE) has experienced zero unique insiders buying, and 8 insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to IntercontinentalExchange Inc (NYSE:ICE). These stocks are Apollo Global Management LLC (NYSE:APO), CBOE Holdings, Inc (NASDAQ:CBOE), Ares Capital Corporation (NASDAQ:ARCC), NASDAQ OMX Group, Inc. (NASDAQ:NDAQ), and NYSE Euronext (NYSE:NYX). All of these stocks are in the diversified investments industry and their market caps are similar to ICE’s market cap.
Company Name
# of Hedge Funds
# of Insiders Buying
# of Insiders Selling
Apollo Global Management LLC (NYSE:APO)
CBOE Holdings, Inc (NASDAQ:CBOE)
Ares Capital Corporation (NASDAQ:ARCC)
NASDAQ OMX Group, Inc. (NASDAQ:NDAQ)
NYSE Euronext (NYSE:NYX)
35 hedge funds Insider Monkey tracks were long IntercontinentalExchange Inc (NYSE:ICE) at the end of Q3, making it the second most popular diversified investment industry equity among the funds.
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Tags: Alkeon Capital Management, Apollo Global Management LLC (NYSE:APO), Ares Capital Corporation (NASDAQ:ARCC), Balyasny Asset Management, CBOE Holdings Inc (NASDAQ:CBOE), Citadel Investment Group, Dmitry Balyasny, Doug Silverman and Alexander Klabin, Eric Sprott, Falcon Edge Capital, Glenn Russell Dubin, Highbridge Capital Management, Highfields Capital Management, IntercontinentalExchange Inc (NYSE:ICE), Jim Simons, Jonathon Jacobson, Ken Griffin, NASDAQ OMX Group Inc. (NASDAQ:NDAQ), NYSE Euronext (NYSE:NYX), Panayotis Takis Sparaggis, Paul Tudor Jones, Renaissance Technologies, Richard Gerson and Navroz D. Udwadia, Senator Investment Group, Sprott Asset Management, Tudor Investment Corp