Cboe Global Markets (BATS:CBOE) Sets New 52-Week High Following Analyst Upgrade

Cboe Global Markets, Inc. (BATS:CBOE) shares hit a new 52-week high on Monday after Barclays raised their price target on the stock from $218.00 to $239.00. Barclays currently has an overweight rating on the stock. Cboe Global Markets traded as high as $212.38 and last traded at $207.24, with a volume of 845971 shares trading hands. The stock had previously closed at $210.42.

A number of other equities research analysts have also recently weighed in on CBOE. Piper Sandler reiterated an “overweight” rating and set a $210.00 price target (up from $203.00) on shares of Cboe Global Markets in a research report on Monday, August 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $220.00 price target on shares of Cboe Global Markets in a research report on Friday. Oppenheimer lifted their price target on shares of Cboe Global Markets from $199.00 to $209.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. upgraded shares of Cboe Global Markets from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $168.00 to $195.00 in a research report on Monday, August 5th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Cboe Global Markets from $197.00 to $198.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $206.42.

Insider Buying and Selling

In related news, EVP Dave Howson sold 2,500 shares of Cboe Global Markets stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $186.67, for a total value of $466,675.00. Following the completion of the transaction, the executive vice president now owns 15,073 shares in the company, valued at $2,813,676.91. The trade was 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 through this hyperlink. In related news, CFO Jill Griebenow sold 1,622 shares of Cboe Global Markets stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $213.33, for a total value of $346,021.26. Following the completion of the transaction, the chief financial officer now owns 8,844 shares in the company, valued at $1,886,690.52. The trade was 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 through this hyperlink. Also, EVP Dave Howson sold 2,500 shares of Cboe Global Markets stock in a transaction that occurred on 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 transaction, the executive vice president now owns 15,073 shares of the company’s stock, valued at $2,813,676.91. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,261 shares of company stock worth $3,604,822 over the last 90 days. 0.51% of the stock is owned by insiders.

Institutional Trading of Cboe Global Markets

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC raised its holdings in Cboe Global Markets by 170.0% during the first quarter. FinTrust Capital Advisors LLC now owns 135 shares of the company’s stock worth $25,000 after purchasing an additional 85 shares in the last quarter. ORG Partners LLC acquired a new stake in Cboe Global Markets during the second quarter worth approximately $30,000. Redmont Wealth Advisors LLC acquired a new stake in Cboe Global Markets during the first quarter worth approximately $42,000. Riverview Trust Co acquired a new stake in Cboe Global Markets during the first quarter worth approximately $44,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Cboe Global Markets during the second quarter worth approximately $51,000. Institutional investors and hedge funds own 81.73% of the company’s stock.

Cboe Global Markets Trading Down 1.5 %

The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.60. The business’s fifty day simple moving average is $205.34 and its two-hundred day simple moving average is $187.31. The company has a market cap of $21.98 billion, a price-to-earnings ratio of 108.46 and a beta of 0.61.

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

Cboe Global Markets Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from Cboe Global Markets’s previous quarterly dividend of $0.55. Cboe Global Markets’s payout ratio is 98.97%.

Cboe Global Markets announced that its board has authorized a share repurchase program on Friday, August 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are 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.