Wedbush Securities Inc. Sells 784 Shares of Cboe Global Markets, Inc. (BATS:CBOE)

Wedbush Securities Inc. reduced its position in shares of Cboe Global Markets, Inc. (BATS:CBOE) by 20.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,121 shares of the company’s stock after selling 784 shares during the period. Wedbush Securities Inc.’s holdings in Cboe Global Markets were worth $531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Cboe Global Markets during the fourth quarter valued at about $226,557,000. Tandem Investment Advisors Inc. grew its position in shares of Cboe Global Markets by 4.4% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 835,216 shares of the company’s stock valued at $142,037,000 after acquiring an additional 35,336 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Cboe Global Markets by 66.5% during the 2nd 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 during the last quarter. Goldman Sachs Group Inc. lifted its stake in Cboe Global Markets by 19.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 526,423 shares of the company’s stock valued at $93,998,000 after purchasing an additional 85,433 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake 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 valued at $85,029,000 after purchasing an additional 132,833 shares during the last quarter. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CBOE. Piper Sandler reiterated an “overweight” rating and set a $210.00 price target (up previously from $203.00) on shares of Cboe Global Markets in a research note on Monday, August 5th. Keefe, Bruyette & Woods lifted their target price on shares of Cboe Global Markets from $197.00 to $198.00 and gave the stock a “market perform” rating in a research note on Monday, August 5th. Barclays boosted their price target on shares of Cboe Global Markets from $194.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cboe Global Markets from $186.00 to $205.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. upgraded Cboe Global Markets from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $168.00 to $195.00 in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $199.64.

Insider Activity at Cboe Global Markets

In other Cboe Global Markets news, COO Christopher A. Isaacson sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $175.00, for a total transaction of $1,050,000.00. Following the completion of the transaction, the chief operating officer now owns 51,855 shares of the company’s stock, valued at $9,074,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Christopher A. Isaacson sold 6,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $175.00, for a total value of $1,050,000.00. Following the transaction, the chief operating officer now owns 51,855 shares in the company, valued at approximately $9,074,625. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jill Griebenow sold 1,622 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $213.33, for a total transaction of $346,021.26. Following the sale, the chief financial officer now directly owns 8,844 shares in the company, valued at $1,886,690.52. The disclosure for this sale can be found here. Insiders sold a total of 24,261 shares of company stock valued at $4,654,822 in the last three months. Company insiders own 0.51% of the company’s stock.

Cboe Global Markets Stock Performance

Shares of CBOE opened at $210.46 on Friday. Cboe Global Markets, Inc. has a one year low of $103.82 and a one year high of $139.00. The company has a 50-day simple moving average of $195.43 and a two-hundred day simple moving average of $184.93. 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 firm has a market capitalization of $22.32 billion, a PE ratio of 108.49 and a beta of 0.61.

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

Cboe Global Markets Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.63 per share. This is a boost from Cboe Global Markets’s previous quarterly dividend of $0.55. This represents a $2.52 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Friday, August 30th. Cboe Global Markets’s dividend payout ratio (DPR) is 98.97%.

Cboe Global Markets declared that its board has initiated a stock repurchase plan on Friday, August 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Cboe Global Markets Company Profile

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.