Cboe Global Markets (BATS:CBOE) Reaches New 52-Week High – Here’s Why

Cboe Global Markets, Inc. (BATS:CBOE)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $371.18 and last traded at $362.97, with a volume of 986736 shares traded. The stock had previously closed at $366.28.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CBOE. Argus upgraded shares of Cboe Global Markets to a “hold” rating in a research note on Wednesday, March 11th. Barclays increased their price target on shares of Cboe Global Markets from $351.00 to $382.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods increased their price target on shares of Cboe Global Markets from $300.00 to $335.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Morgan Stanley raised their target price on shares of Cboe Global Markets from $246.00 to $273.00 and gave the stock an “underweight” rating in a research note on Friday, April 10th. Finally, UBS Group raised their target price on shares of Cboe Global Markets from $305.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cboe Global Markets currently has an average rating of “Hold” and a consensus price target of $322.60.

Cboe Global Markets Price Performance

The company has a market cap of $38.50 billion, a price-to-earnings ratio of 187.10 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 company’s 50 day moving average price is $306.29 and its 200 day moving average price is $279.31.

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

Cboe Global Markets Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, May 29th. Cboe Global Markets’s dividend payout ratio (DPR) is 98.97%.

Insider Activity at Cboe Global Markets

In related news, CAO Allen Wilkinson sold 248 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $292.79, for a total value of $72,611.92. Following the completion of the sale, the chief accounting officer owned 410 shares in the company, valued at $120,043.90. This trade represents a 37.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.51% of the company’s stock.

Institutional Trading of Cboe Global Markets

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sound Income Strategies LLC lifted its stake in shares of Cboe Global Markets by 102.2% in the fourth quarter. Sound Income Strategies LLC now owns 91 shares of the company’s stock valued at $25,000 after purchasing an additional 46 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cboe Global Markets in the fourth quarter valued at about $26,000. NFSG Corp acquired a new stake in shares of Cboe Global Markets in the first quarter valued at about $31,000. Headlands Technologies LLC acquired a new stake in shares of Cboe Global Markets in the second quarter valued at about $31,000. Finally, Physician Wealth Advisors Inc. lifted its stake in shares of Cboe Global Markets by 70.5% in the third quarter. Physician Wealth Advisors Inc. now owns 133 shares of the company’s stock valued at $33,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds 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. 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.