Cboe Global Markets (BATS:CBOE) Sets New 1-Year High Following Analyst Upgrade

Cboe Global Markets, Inc. (BATS:CBOE) shares reached a new 52-week high during trading 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.

Several other research firms have also recently issued reports on CBOE. Piper Sandler increased their target price on shares of Cboe Global Markets from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. upgraded shares of 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 note on Monday, August 5th. Keefe, Bruyette & Woods increased 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 raised their price objective on shares of Cboe Global Markets from $218.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $220.00 target price on shares of Cboe Global Markets in a research report on Friday, October 4th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $208.75.

Insider Transactions at Cboe Global Markets

In other news, EVP Dave Howson sold 2,500 shares of the company’s 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 transaction, the executive vice president now owns 15,073 shares in the company, valued at approximately $2,813,676.91. This represents 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 link. In other news, EVP Dave Howson sold 2,500 shares of the company’s 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 transaction, the executive vice president now owns 15,073 shares in the company, valued at approximately $2,813,676.91. This represents 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 link. Also, EVP Catherine R. Clay sold 600 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $203.23, for a total transaction of $121,938.00. Following the transaction, the executive vice president now owns 4,328 shares in the company, valued at approximately $879,579.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,261 shares of company stock worth $3,604,822. Corporate insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB increased its holdings in Cboe Global Markets by 305.2% during the third quarter. Swedbank AB now owns 94,392 shares of the company’s stock valued at $19,338,000 after buying an additional 71,097 shares during the last quarter. Creative Planning increased its holdings in Cboe Global Markets by 79.5% during the third quarter. Creative Planning now owns 15,427 shares of the company’s stock valued at $3,161,000 after buying an additional 6,831 shares during the last quarter. CX Institutional increased its holdings in Cboe Global Markets by 7.2% during the third quarter. CX Institutional now owns 5,661 shares of the company’s stock valued at $1,160,000 after buying an additional 381 shares during the last quarter. Martin Capital Advisors LLP increased its holdings in Cboe Global Markets by 8.0% during the third quarter. Martin Capital Advisors LLP now owns 1,631 shares of the company’s stock valued at $334,000 after buying an additional 121 shares during the last quarter. Finally, Crestmont Private Wealth LLC purchased a new stake in shares of Cboe Global Markets in the third quarter worth $212,000. Institutional investors own 81.73% of the company’s stock.

Cboe Global Markets Trading Up 2.8 %

The stock’s 50 day moving average price is $207.76 and its 200-day moving average price is $188.59. 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 stock has a market capitalization of $22.40 billion, a PE ratio of 108.88 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last posted its 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. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The company had revenue of $513.80 million during the quarter, compared to analysts’ expectations of $514.51 million. During the same period last year, the company posted $1.78 earnings per share. Cboe Global Markets’s quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts expect that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current fiscal year.

Cboe Global Markets Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from Cboe Global Markets’s previous quarterly dividend of $0.55. Cboe Global Markets’s dividend payout ratio (DPR) is 98.97%.

Cboe Global Markets announced that its Board of Directors has authorized a share repurchase plan on Friday, August 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors 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.