Cboe Global Markets (BATS:CBOE) Sets New 52-Week High – Time to Buy?

Cboe Global Markets, Inc. (BATS:CBOE)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $214.26 and last traded at $213.29, with a volume of 2012145 shares traded. The stock had previously closed at $213.26.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and set a $220.00 target price on shares of Cboe Global Markets in a report on Monday, November 4th. Morgan Stanley downgraded Cboe Global Markets from an “equal weight” rating to an “underweight” rating and set a $199.00 price objective on the stock. in a research note on Wednesday, November 6th. TD Cowen initiated coverage on Cboe Global Markets in a research report on Thursday, September 26th. They set a “hold” rating and a $205.00 target price for the company. Barclays dropped their price target on shares of Cboe Global Markets from $239.00 to $230.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Cboe Global Markets from a “hold” rating to a “buy” rating and upped their price objective for the stock from $212.00 to $222.00 in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $209.42.

Cboe Global Markets Trading Up 0.0 %

The business has a 50-day moving average of $207.83 and a two-hundred day moving average of $194.05. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $22.62 billion, a price-to-earnings ratio of 109.93 and a beta of 0.61.

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

Cboe Global Markets Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, November 29th. Cboe Global Markets’s dividend payout ratio (DPR) is currently 98.97%.

Cboe Global Markets declared that its board has authorized a stock repurchase program on Friday, August 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, COO Christopher A. Isaacson sold 6,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.89, for a total transaction 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 approximately $8,165,890.95. The trade was a 13.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jill Griebenow sold 1,622 shares of Cboe Global Markets stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $213.33, for a total transaction of $346,021.26. Following the transaction, the chief financial officer now directly owns 8,844 shares in the company, valued at approximately $1,886,690.52. This represents a 15.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.

Institutional Trading of Cboe Global Markets

Several hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP raised its stake in shares of Cboe Global Markets by 306.6% in the 2nd quarter. Marshall Wace LLP now owns 533,839 shares of the company’s stock valued at $90,785,000 after purchasing an additional 402,547 shares during the period. BNP Paribas Financial Markets lifted its holdings 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 last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Cboe Global Markets by 66.5% in the second 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 last quarter. Raymond James & Associates raised its position in shares of Cboe Global Markets by 311.3% in the third quarter. Raymond James & Associates now owns 231,429 shares of the company’s stock valued at $47,413,000 after purchasing an additional 175,159 shares during the period. Finally, TD Asset Management Inc lifted its stake 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 worth $85,029,000 after buying an additional 132,833 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

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.