Cboe Global Markets, Inc. $CBOE Stock: Ethic Inc. Trims Stake

Ethic Inc. lowered its stake in Cboe Global Markets, Inc. (BATS:CBOE) by 16.3% during the 3rd quarter, Holdings Channel reports. The firm owned 23,498 shares of the company’s stock after selling 4,582 shares during the quarter. Ethic Inc.’s holdings in Cboe Global Markets were worth $6,469,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CBOE. Formidable Asset Management LLC bought a new position in Cboe Global Markets during the third quarter valued at approximately $623,000. Verus Capital Partners LLC increased its stake in Cboe Global Markets by 2.6% in the 3rd quarter. Verus Capital Partners LLC now owns 1,395 shares of the company’s stock worth $384,000 after acquiring an additional 35 shares during the last quarter. AlphaCentric Advisors LLC increased its stake in Cboe Global Markets by 11.1% in the 3rd quarter. AlphaCentric Advisors LLC now owns 1,203 shares of the company’s stock worth $331,000 after acquiring an additional 120 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of Cboe Global Markets by 1.1% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,914 shares of the company’s stock worth $802,000 after acquiring an additional 32 shares in the last quarter. Finally, CenterBook Partners LP purchased a new stake in shares of Cboe Global Markets during the 3rd quarter worth approximately $584,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Loop Capital set a $332.00 target price on Cboe Global Markets in a research report on Wednesday, October 28th. The Goldman Sachs Group cut shares of Cboe Global Markets from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 4th. Barclays upped their price target on shares of Cboe Global Markets from $343.00 to $392.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Piper Sandler lowered their price objective on shares of Cboe Global Markets from $355.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company lifted their price objective on shares of Cboe Global Markets from $309.00 to $357.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $363.00.

Cboe Global Markets Trading Down 0.1%

Shares of CBOE stock opened at $352.78 on Tuesday. Cboe Global Markets, Inc. has a 1 year low of $227.15 and a 1 year high of $371.18. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.21. The stock’s 50 day simple moving average is $299.48 and its two-hundred day simple moving average is $294.22. The company has a market cap of $37.42 billion, a PE ratio of 181.85 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last announced its earnings results on Friday, October 30th. The company reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.20. The firm had revenue of $712.20 million during the quarter, compared to analysts’ expectations of $705.22 million. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.67 EPS. Research analysts predict that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current year.

Cboe Global Markets Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, November 30th. Cboe Global Markets’s dividend payout ratio is presently 98.97%.

Cboe Global Markets announced that its board has initiated a stock buyback program on Thursday, October 22nd that permits the company to repurchase $550 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Cboe Global Markets

In related news, Director Janet Froetscher sold 937 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $278.95, for a total value of $261,376.15. Following the completion of the sale, the director directly owned 12,870 shares in the company, valued at $3,590,086.50. This trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is currently owned by corporate insiders.

Cboe Global Markets 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. and Canadian equities. This segment also offers exchange-traded products (ETP) transaction and listing services. The Europe and Asia Pacific segment provides pan-European listed equities and derivatives transaction services, ETPs, exchange-traded commodities, and international depository receipts, as well as ETP listings and clearing services.