Cboe Global Markets (BATS:CBOE) Hits New 12-Month High – Here’s Why

Shares of Cboe Global Markets, Inc. (BATS:CBOE) reached a new 52-week high on Monday . The company traded as high as $202.53 and last traded at $199.43, with a volume of 1289598 shares. The stock had previously closed at $196.86.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CBOE shares. Morgan Stanley downgraded Cboe Global Markets from an “equal weight” rating to an “underweight” rating and set a $199.00 target price on the stock. in a research report on Wednesday, November 6th. Piper Sandler raised their price target 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 raised their price target for the stock from $168.00 to $195.00 in a research note on Monday, August 5th. Barclays cut their price target on shares of Cboe Global Markets from $239.00 to $230.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $220.00 price target on shares of Cboe Global Markets in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Cboe Global Markets currently has an average rating of “Hold” and an average price target of $209.42.

Cboe Global Markets Stock Down 1.2 %

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 firm’s 50-day simple moving average is $208.76 and its 200 day simple moving average is $192.70. The stock has a market capitalization of $20.89 billion, a P/E ratio of 102.83 and a beta of 0.61.

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

Cboe Global Markets Dividend Announcement

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

Cboe Global Markets announced that its board has authorized a stock buyback program on Friday, August 16th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Cboe Global Markets

In other Cboe Global Markets news, CFO Jill Griebenow sold 1,622 shares of Cboe Global Markets stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $213.33, for a total value of $346,021.26. Following the sale, the chief financial officer now owns 8,844 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. In other news, CFO Jill Griebenow sold 1,622 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 8,844 shares in the company, valued at $1,886,690.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Christopher A. Isaacson sold 6,000 shares of the business’s stock in a transaction dated 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 $8,165,890.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,696 shares of company stock valued at $1,591,160 over the last ninety days. Corporate insiders own 0.51% of the company’s stock.

Institutional Trading of Cboe Global Markets

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. lifted its stake in Cboe Global Markets by 2.9% in the third quarter. Landscape Capital Management L.L.C. now owns 1,850 shares of the company’s stock worth $379,000 after acquiring an additional 52 shares during the period. Americana Partners LLC increased its holdings in shares of Cboe Global Markets by 2.2% during the third quarter. Americana Partners LLC now owns 2,498 shares of the company’s stock valued at $512,000 after acquiring an additional 54 shares in the last quarter. Regal Investment Advisors LLC increased its holdings in shares of Cboe Global Markets by 0.3% during the second quarter. Regal Investment Advisors LLC now owns 22,274 shares of the company’s stock valued at $3,788,000 after acquiring an additional 56 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Cboe Global Markets by 9.7% during the second quarter. First Horizon Advisors Inc. now owns 713 shares of the company’s stock valued at $121,000 after acquiring an additional 63 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in shares of Cboe Global Markets by 2.1% during the third quarter. Empirical Finance LLC now owns 3,649 shares of the company’s stock valued at $748,000 after acquiring an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

About Cboe Global Markets

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.