Royal Bank of Canada Reaffirms Sector Perform Rating for Cboe Global Markets (BATS:CBOE)

Cboe Global Markets (BATS:CBOE)‘s stock had its “sector perform” rating reiterated by analysts at Royal Bank of Canada in a report released on Monday, Benzinga reports. They presently have a $220.00 price objective on the stock. Royal Bank of Canada’s price target points to a potential upside of 3.59% from the company’s previous close.

Several other analysts also recently commented on CBOE. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cboe Global Markets from $186.00 to $205.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Oppenheimer lifted their price objective on shares of Cboe Global Markets from $209.00 to $227.00 and gave the company an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upgraded shares of Cboe Global Markets from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $168.00 to $195.00 in a report on Monday, August 5th. Piper Sandler lifted their price objective on shares of Cboe Global Markets from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Barclays lowered their price objective on shares of Cboe Global Markets from $239.00 to $230.00 and set an “overweight” rating on the stock in a report on Monday. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $208.58.

Cboe Global Markets Stock Performance

Shares of CBOE stock opened at $212.37 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market capitalization of $22.52 billion, a P/E ratio of 109.47 and a beta of 0.61. The company’s 50 day moving average price is $209.57 and its two-hundred day moving average price is $191.79. Cboe Global Markets has a 52 week low of $103.82 and a 52 week high of $139.00.

Cboe Global Markets (BATS:CBOE) last announced its earnings results on Friday, November 1st. The company reported $2.22 EPS for the quarter, topping the consensus estimate of $2.19 by $0.03. The firm had revenue of $532.00 million for the quarter, compared to the consensus estimate of $530.46 million. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company posted $2.06 EPS. On average, analysts expect that Cboe Global Markets will post 6.41 earnings per share for the current fiscal year.

Cboe Global Markets declared that its Board of Directors has authorized a share buyback program on Friday, August 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Cboe Global Markets

In other news, COO Christopher A. Isaacson sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.89, for a total transaction of $1,229,340.00. Following the transaction, the chief operating officer now owns 39,855 shares in the company, valued at approximately $8,165,890.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cboe Global Markets news, CFO Jill Griebenow sold 1,622 shares of Cboe Global Markets stock in a transaction on Wednesday, September 4th. The stock was 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 directly owns 8,844 shares of the company’s stock, valued at $1,886,690.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christopher A. Isaacson sold 6,000 shares of Cboe Global Markets stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.89, for a total value of $1,229,340.00. Following the completion of the transaction, the chief operating officer now directly owns 39,855 shares of the company’s stock, valued at $8,165,890.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,696 shares of company stock worth $1,591,160. Company insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Cboe Global Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. raised its holdings in Cboe Global Markets by 0.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 288,850 shares of the company’s stock valued at $59,177,000 after acquiring an additional 957 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Cboe Global Markets in the 3rd quarter valued at $221,000. Los Angeles Capital Management LLC raised its holdings in Cboe Global Markets by 8.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 668,834 shares of the company’s stock valued at $137,024,000 after acquiring an additional 51,793 shares in the last quarter. Washington Trust Advisors Inc. acquired a new position in Cboe Global Markets in the 3rd quarter valued at $144,000. Finally, SpiderRock Advisors LLC raised its holdings in Cboe Global Markets by 55.5% in the 3rd quarter. SpiderRock Advisors LLC now owns 17,574 shares of the company’s stock valued at $3,600,000 after acquiring an additional 6,276 shares in the last quarter. 81.73% of the stock is owned by institutional investors and hedge funds.

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.