Cboe Global Markets (BATS:CBOE) Downgraded to “Underweight” Rating by Morgan Stanley

Morgan Stanley cut shares of Cboe Global Markets (BATS:CBOE) from an equal weight rating to an underweight rating in a research report report published on Wednesday, MarketBeat reports. Morgan Stanley currently has $199.00 price objective on the stock.

CBOE has been the topic of a number of other reports. Piper Sandler increased their price target on shares of Cboe Global Markets from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Oppenheimer raised their price target on shares of Cboe Global Markets from $209.00 to $227.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. raised Cboe Global Markets from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $168.00 to $195.00 in a research note on Monday, August 5th. Barclays lowered their price target on Cboe Global Markets from $239.00 to $230.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Cboe Global Markets from $214.00 to $212.00 and set a “hold” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $208.58.

Cboe Global Markets Stock Performance

Cboe Global Markets stock opened at $200.91 on Wednesday. Cboe Global Markets has a fifty-two week low of $103.82 and a fifty-two week high of $139.00. The firm’s fifty day moving average price is $209.59 and its 200-day moving average price is $192.02. The stock has a market cap of $21.31 billion, a P/E ratio of 103.56 and a beta of 0.61. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.21.

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

Cboe Global Markets Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 1.25%. The ex-dividend date is Friday, November 29th. Cboe Global Markets’s dividend payout ratio (DPR) is 98.97%.

Cboe Global Markets declared that its Board of Directors has initiated a stock 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 reacquire up to 2.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Cboe Global Markets

In related news, COO Christopher A. Isaacson sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.89, for a total value of $1,229,340.00. Following the completion of the transaction, the chief operating officer now directly owns 39,855 shares in the company, valued at $8,165,890.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Jill Griebenow sold 1,622 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 8,844 shares in the company, valued at $1,886,690.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, 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 shares were sold at an average price of $204.89, for a total value of $1,229,340.00. Following the sale, the chief operating officer now owns 39,855 shares of the company’s stock, valued at approximately $8,165,890.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,696 shares of company stock worth $1,591,160. Corporate insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Cboe Global Markets

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Natixis Advisors LLC boosted its stake in shares of Cboe Global Markets by 1.3% during the 3rd quarter. Natixis Advisors LLC now owns 92,185 shares of the company’s stock worth $18,886,000 after acquiring an additional 1,211 shares during the last quarter. Empowered Funds LLC lifted its position in Cboe Global Markets by 2.7% during the third quarter. Empowered Funds LLC now owns 9,082 shares of the company’s stock valued at $1,861,000 after purchasing an additional 243 shares in the last quarter. Empirical Finance LLC grew its holdings in 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 purchasing an additional 74 shares during the period. Metis Global Partners LLC increased its position in Cboe Global Markets by 6.0% in the third quarter. Metis Global Partners LLC now owns 5,414 shares of the company’s stock worth $1,109,000 after buying an additional 306 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its stake in shares of Cboe Global Markets by 25.0% in the third quarter. Zions Bancorporation N.A. now owns 2,053 shares of the company’s stock worth $421,000 after buying an additional 410 shares during the period. 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.