Cboe Global Markets (BATS:CBOE) Reaches New 52-Week High on Analyst Upgrade

Cboe Global Markets, Inc. (BATS:CBOE)’s share price hit a new 52-week high on Monday after Oppenheimer raised their price target on the stock from $209.00 to $227.00. Oppenheimer currently has an outperform rating on the stock. Cboe Global Markets traded as high as $207.56 and last traded at $206.50, with a volume of 619138 shares. The stock had previously closed at $206.00.

CBOE has been the topic of several other reports. TD Cowen started coverage on Cboe Global Markets in a research report on Thursday, September 26th. They issued a “hold” rating and a $205.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price on Cboe Global Markets from $186.00 to $205.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods increased their target price on Cboe Global Markets from $197.00 to $198.00 and gave the stock a “market perform” rating in a research report on Monday, August 5th. Piper Sandler increased their target price on Cboe Global Markets from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Barclays increased their target price on Cboe Global Markets from $218.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $208.75.

Insider Activity

In other news, EVP Dave Howson sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $186.67, for a total transaction of $466,675.00. Following the completion of the sale, the executive vice president now directly owns 15,073 shares in the company, valued at $2,813,676.91. This trade represents a 0.00 % 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. In other news, EVP Dave Howson sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $186.67, for a total transaction of $466,675.00. Following the completion of the sale, the executive vice president now directly owns 15,073 shares in the company, valued at $2,813,676.91. This trade represents a 0.00 % 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 Catherine R. Clay sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $203.23, for a total value of $121,938.00. Following the sale, the executive vice president now owns 4,328 shares of the company’s stock, valued at $879,579.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,261 shares of company stock worth $3,604,822 over the last ninety days. Corporate insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Cboe Global Markets

A number of hedge funds have recently bought and sold shares of the company. Tandem Investment Advisors Inc. grew its stake in Cboe Global Markets by 4.4% in the second quarter. Tandem Investment Advisors Inc. now owns 835,216 shares of the company’s stock worth $142,037,000 after purchasing an additional 35,336 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in Cboe Global Markets by 66.5% in the second quarter. Los Angeles Capital Management LLC now owns 617,041 shares of the company’s stock worth $104,934,000 after purchasing an additional 246,442 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Cboe Global Markets by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 566,657 shares of the company’s stock worth $96,367,000 after purchasing an additional 55,876 shares in the last quarter. Marshall Wace LLP grew its stake in Cboe Global Markets by 306.6% in the second quarter. Marshall Wace LLP now owns 533,839 shares of the company’s stock worth $90,785,000 after purchasing an additional 402,547 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in Cboe Global Markets by 36.2% in the second quarter. TD Asset Management Inc now owns 499,995 shares of the company’s stock worth $85,029,000 after acquiring an additional 132,833 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

Cboe Global Markets Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.21. The stock’s fifty day simple moving average is $207.50 and its 200-day simple moving average is $188.39. The stock has a market cap of $21.90 billion, a P/E ratio of 106.44 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last issued its earnings results on Friday, August 2nd. The company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.05. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The firm had revenue of $513.80 million for the quarter, compared to analysts’ expectations of $514.51 million. During the same quarter last year, the company posted $1.78 earnings per share. Cboe Global Markets’s revenue was up 10.0% on a year-over-year basis. On average, research analysts anticipate that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current year.

Cboe Global Markets Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.63 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.52 dividend on an annualized basis and a yield of 1.22%. This is a boost from Cboe Global Markets’s previous quarterly dividend of $0.55. Cboe Global Markets’s dividend payout ratio (DPR) is currently 98.97%.

Cboe Global Markets declared that its Board of Directors has initiated a share buyback program on Friday, August 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

About Cboe Global Markets

Cboe Global Markets, Inc, through its subsidiaries, operates as an options exchange worldwide. It operates through six segments: Options, North American Equities, Europe and Asia Pacific, Futures, Global FX, and Digital. The Options segment trades in listed market indices. The North American Equities segment trades in listed U.S.