Cboe Global Markets (BATS:CBOE) Cut to Underweight at Morgan Stanley

Morgan Stanley downgraded shares of Cboe Global Markets (BATS:CBOE) from an equal weight rating to an underweight rating in a report issued on Wednesday morning, Marketbeat Ratings reports. Morgan Stanley currently has $199.00 price objective on the stock.

Several other research firms also recently weighed in on CBOE. Oppenheimer raised their target price 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. raised shares of Cboe Global Markets from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $168.00 to $195.00 in a research note on Monday, August 5th. Keefe, Bruyette & Woods upped their target price on Cboe Global Markets from $197.00 to $198.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Barclays lowered their target price on Cboe Global Markets from $239.00 to $230.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, Piper Sandler boosted their price target on Cboe Global Markets from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $208.58.

Cboe Global Markets Trading Down 1.2 %

Shares of CBOE opened at $197.28 on Wednesday. The firm’s 50-day moving average is $209.29 and its two-hundred day moving average is $192.14. Cboe Global Markets has a twelve month low of $103.82 and a twelve month high of $139.00. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $20.92 billion, a P/E ratio of 103.22 and a beta of 0.61.

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

Cboe Global Markets announced that its board has initiated a share repurchase plan on Friday, August 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Cboe Global Markets Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, November 29th. This represents a $2.52 annualized dividend and a dividend yield of 1.28%. Cboe Global Markets’s payout ratio is currently 98.97%.

Insider Buying and Selling

In related news, COO Christopher A. Isaacson sold 6,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.89, for a total value of $1,229,340.00. Following the transaction, the chief operating officer now directly owns 39,855 shares of the company’s stock, valued at approximately $8,165,890.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cboe Global Markets 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 transaction of $346,021.26. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Christopher A. Isaacson sold 6,000 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 39,855 shares of the company’s stock, valued at $8,165,890.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,696 shares of company stock valued at $1,591,160. Insiders own 0.51% of the company’s stock.

Institutional Trading of Cboe Global Markets

A number of institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC acquired a new stake in Cboe Global Markets in the second quarter valued at approximately $30,000. Friedenthal Financial acquired a new stake in Cboe Global Markets during the 3rd quarter valued at $49,000. Ashton Thomas Private Wealth LLC purchased a new stake in Cboe Global Markets during the 2nd quarter worth $51,000. GPS Wealth Strategies Group LLC lifted its holdings in Cboe Global Markets by 59.1% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 331 shares of the company’s stock worth $56,000 after buying an additional 123 shares in the last quarter. Finally, Intact Investment Management Inc. purchased a new position in Cboe Global Markets in the 3rd quarter valued at about $74,000. 81.73% of the stock is owned by hedge funds and other institutional investors.

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.