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

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CBOE shares. TD Cowen started coverage on Cboe Global Markets in a report on Thursday, September 26th. They issued a “hold” rating and a $205.00 price objective for the company. Barclays reduced their price objective on Cboe Global Markets from $239.00 to $230.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upgraded Cboe Global Markets from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $212.00 to $222.00 in a report on Monday. Oppenheimer lifted their price objective on Cboe Global Markets from $209.00 to $227.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Morgan Stanley downgraded Cboe Global Markets from an “equal weight” rating to an “underweight” rating and set a $199.00 price objective for the company. in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cboe Global Markets currently has a consensus rating of “Hold” and a consensus target price of $209.42.

Cboe Global Markets Price Performance

The company has a fifty day moving average price of $208.76 and a two-hundred day moving average price of $192.70. 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 $20.89 billion, a PE ratio of 102.83 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last posted its quarterly earnings data on Friday, November 1st. The company reported $2.22 EPS for the quarter, beating the consensus estimate of $2.19 by $0.03. The firm had revenue of $532.00 million during the quarter, compared to the consensus estimate of $530.46 million. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.06 EPS. Sell-side analysts forecast that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current year.

Cboe Global Markets Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, November 29th. 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 permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

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

Institutional Trading of Cboe Global Markets

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP boosted its position in shares of Cboe Global Markets by 306.6% during the second quarter. Marshall Wace LLP now owns 533,839 shares of the company’s stock worth $90,785,000 after buying an additional 402,547 shares during the period. BNP Paribas Financial Markets raised its stake in Cboe Global Markets by 215.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 376,190 shares of the company’s stock valued at $77,070,000 after purchasing an additional 257,016 shares during the period. Los Angeles Capital Management LLC raised its stake in Cboe Global Markets by 66.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 617,041 shares of the company’s stock valued at $104,934,000 after purchasing an additional 246,442 shares during the period. Raymond James & Associates grew its holdings in shares of Cboe Global Markets by 311.3% during the 3rd quarter. Raymond James & Associates now owns 231,429 shares of the company’s stock valued at $47,413,000 after acquiring an additional 175,159 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Cboe Global Markets by 36.2% during the 2nd quarter. TD Asset Management Inc now owns 499,995 shares of the company’s stock valued at $85,029,000 after acquiring an additional 132,833 shares in the last quarter. 81.73% of the stock is owned by 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.