Cboe Global Markets (BATS:CBOE) Rating Lowered to “Hold” at Zacks Research

Cboe Global Markets (BATS:CBOE) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other brokerages have also recently issued reports on CBOE. Erste Group Bank cut shares of Cboe Global Markets from a “buy” rating to a “hold” rating in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Cboe Global Markets in a report on Monday, May 4th. Argus raised shares of Cboe Global Markets to a “hold” rating in a research report on Wednesday, March 11th. Barclays cut their price target on shares of Cboe Global Markets from $382.00 to $347.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Cboe Global Markets from $300.00 to $335.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Four 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $315.60.

Cboe Global Markets Trading Up 1.1%

BATS CBOE opened at $267.85 on Wednesday. The firm has a market cap of $28.41 billion, a PE ratio of 138.07 and a beta of 0.61. Cboe Global Markets has a 1-year low of $227.15 and a 1-year high of $371.18. The stock has a 50-day moving average of $300.49 and a 200-day moving average of $287.36. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60.

Cboe Global Markets (BATS:CBOE) last posted its quarterly earnings results on Friday, May 1st. The company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.37 by $0.33. The business had revenue of $728.90 million for the quarter, compared to analyst estimates of $688.36 million. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%.Cboe Global Markets’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same period last year, the company earned $2.50 EPS. As a group, sell-side analysts forecast that Cboe Global Markets will post 6.41 EPS for the current year.

Insider Activity

In other news, Director Janet P. Froetscher sold 1,223 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $358.09, for a total value of $437,944.07. Following the completion of the transaction, the director owned 13,807 shares in the company, valued at $4,944,148.63. This trade represents a 8.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Cboe Global Markets

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBOE. Nordea Investment Management AB increased its stake in shares of Cboe Global Markets by 33.5% during the fourth quarter. Nordea Investment Management AB now owns 947,884 shares of the company’s stock valued at $239,625,000 after purchasing an additional 237,887 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cboe Global Markets by 13.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 59,193 shares of the company’s stock valued at $14,686,000 after purchasing an additional 7,012 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Cboe Global Markets by 36.6% in the 4th quarter. Pacer Advisors Inc. now owns 11,639 shares of the company’s stock worth $2,921,000 after purchasing an additional 3,119 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of Cboe Global Markets by 37.9% in the 4th quarter. Park Avenue Securities LLC now owns 12,993 shares of the company’s stock worth $3,261,000 after purchasing an additional 3,574 shares in the last quarter. Finally, Brindle & Bay Financial Advisors LLC purchased a new stake in shares of Cboe Global Markets in the 4th quarter worth approximately $735,000. 81.73% of the stock is owned by hedge funds and other institutional investors.

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. 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.