Cboe Global Markets (BATS:CBOE) Reaches New 52-Week High After Better-Than-Expected Earnings

Cboe Global Markets, Inc. (BATS:CBOE)’s share price reached a new 52-week high during mid-day trading on Monday following a stronger than expected earnings report. The stock traded as high as $202.67 and last traded at $196.04, with a volume of 1791447 shares changing hands. The stock had previously closed at $193.79.

The company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.10 by $0.05. The company had revenue of $513.80 million during the quarter, compared to analysts’ expectations of $514.51 million. Cboe Global Markets had a net margin of 5.77% and a return on equity of 20.05%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.78 EPS.

Cboe Global Markets Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Friday, May 31st. Cboe Global Markets’s dividend payout ratio (DPR) is currently 98.97%.

Analyst Ratings Changes

A number of research firms have recently commented on CBOE. Bank of America upped their price objective on shares of Cboe Global Markets from $200.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price objective (up from $203.00) on shares of Cboe Global Markets in a research note on Monday. Oppenheimer increased their target price on shares of Cboe Global Markets from $199.00 to $209.00 and gave the stock an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. raised 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. Finally, Morgan Stanley reissued an “equal weight” rating and set a $199.00 target price (down from $211.00) on shares of Cboe Global Markets in a research note on Tuesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $191.33.

Insider Activity

In other news, EVP Catherine R. Clay sold 1,100 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $185.06, for a total value of $203,566.00. Following the completion of the sale, the executive vice president now owns 4,656 shares in the company, valued at $861,639.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Catherine R. Clay sold 1,100 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $185.06, for a total transaction of $203,566.00. Following the completion of the sale, the executive vice president now owns 4,656 shares in the company, valued at $861,639.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christopher A. Isaacson sold 6,000 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $175.00, for a total transaction of $1,050,000.00. Following the transaction, the chief operating officer now owns 51,855 shares of the company’s stock, valued at approximately $9,074,625. The disclosure for this sale can be found here. Insiders sold a total of 11,992 shares of company stock worth $2,170,463 over the last quarter. Insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Cboe Global Markets

A number of hedge funds and other institutional investors have recently bought and sold shares of CBOE. Norges Bank purchased a new position in Cboe Global Markets in the 4th quarter worth approximately $226,557,000. Perpetual Ltd bought a new stake in shares of Cboe Global Markets in the 1st quarter worth approximately $74,868,000. Allianz Asset Management GmbH lifted its holdings in shares of Cboe Global Markets by 439.5% in the 4th quarter. Allianz Asset Management GmbH now owns 317,631 shares of the company’s stock worth $56,716,000 after acquiring an additional 258,753 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Cboe Global Markets by 120.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 285,616 shares of the company’s stock worth $51,000,000 after acquiring an additional 156,109 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Cboe Global Markets by 36.2% in the 2nd quarter. TD Asset Management Inc now owns 499,995 shares of the company’s stock worth $85,029,000 after acquiring an additional 132,833 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Cboe Global Markets Trading Up 1.2 %

The stock has a market capitalization of $20.79 billion, a P/E ratio of 99.89 and a beta of 0.61. 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 stock’s fifty day moving average price is $175.48 and its two-hundred day moving average price is $180.75.

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.