Sprott INC Decreased Stake in Intercontinental Exchange INC (NYSE:ICE) by $14.39 Million as Shares Declined


Eric Sprott decreased its stake in Intercontinental Exchange Inc (NYSE:ICE) by 43.05% based on its latest 2016Q2 regulatory filing with the SEC. Sprott Inc sold 61,220 shares as the company’s stock declined 6.46% while stock markets rallied. The hedge fund run by Eric Sprott held 81,000 shares of the investment bankers and brokers and service company at the end of 2016Q2, valued at $19.05M, down from 142,220 at the end of the previous reported quarter. Sprott Inc who had been investing in Intercontinental Exchange Inc for a number of months, seems to be less bullish one the $33.89B market cap company. The stock decreased 1.17% or $3.34 during the last trading session, hitting $281.65. About 811,825 shares traded hands or 45.99% up from the average. Intercontinental Exchange Inc (NYSE:ICE) has risen 19.25% since February 8, 2016 and is uptrending. It has outperformed by 2.76% the S&P500.

Sprott Inc, which manages about $3.27 billion and $1.27B US Long portfolio, upped its stake in Nevsun Res Ltd (NYSEMKT:NSU) by 1.51 million shares to 2.66 million shares, valued at $8.60 million in 2016Q2, according to the filing. It also increased its holding in Silver Wheaton Corp (NYSE:SLW) by 276,000 shares in the quarter, for a total of 785,048 shares, and has risen its stake in Barrick Gold Corp (NYSE:ABX).

Sprott Inc is a Ontario, Canada-based hedge fund that was founded by Eric Sprott. It had more than $3.27 billion assets under management in March, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Sprott latest Adv, the fund reported to have 25 full and part-time employees. Among which 14 performing investment advisory and research functions. The hedge fund had between 1-10 clients.

The institutional sentiment decreased to 0.92 in Q2 2016. Its down 0.38, from 1.3 in 2016Q1. The ratio dived, as 56 funds sold all ICE shares owned while 214 reduced positions. 55 funds bought stakes while 194 increased positions. They now own 103.79 million shares or 1.19% more from 102.57 million shares in 2016Q1.

Three Bays Capital Lp holds 4.89% of its portfolio in ICE for 367,346 shares. Meritage Group Lp owns 689,042 shares or 4.59% of their US portfolio. Moreover, Cantillon Capital Management Llc has 4.48% invested in the company for 1.04 million shares. The New York-based Tyrian Investments L.P. has invested 4.48% in the stock. Eminence Capital Lp, a New York-based fund reported 862,499 shares.

Out of 11 analysts covering Intercontinental Exchange (NYSE:ICE), 8 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 73% are positive. Intercontinental Exchange has been the topic of 26 analyst reports since October 6, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained the stock on August 4 with “Buy” rating.

Intercontinental Exchange, Inc., formerly IntercontinentalExchange Group, Inc., is an operator of regulated exchanges, clearing houses and listings venues. The company has a market cap of $33.89 billion. The Firm provides data services for commodity and financial markets. It has a 23.26 P/E ratio. The Firm operates in the United States, the United Kingdom, continental Europe, Asia, Israel and Canada.

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