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

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

Several other research analysts have also recently issued reports on CBOE. Piper Sandler raised their price objective on Cboe Global Markets from $295.00 to $321.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Cboe Global Markets in a research report on Monday, May 4th. Morgan Stanley raised their price target on shares of Cboe Global Markets from $246.00 to $273.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Loop Capital set a $347.00 price objective on shares of Cboe Global Markets in a research note on Thursday. Finally, UBS Group upped their price objective on shares of Cboe Global Markets from $305.00 to $335.00 and gave the company a “neutral” rating in a 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $315.60.

Cboe Global Markets Price Performance

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

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

Insider Activity at Cboe Global Markets

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 shares were sold at an average price of $358.09, for a total transaction of $437,944.07. Following the sale, the director owned 13,807 shares of the company’s stock, valued at $4,944,148.63. This trade represents a 8.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBOE. Vanguard Group Inc. grew its position in shares of Cboe Global Markets by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,955,689 shares of the company’s stock valued at $3,251,878,000 after acquiring an additional 120,021 shares during the period. State Street Corp increased its stake in shares of Cboe Global Markets by 2.1% in the 3rd quarter. State Street Corp now owns 4,996,816 shares of the company’s stock valued at $1,225,469,000 after purchasing an additional 101,349 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cboe Global Markets by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 2,987,134 shares of the company’s stock worth $750,940,000 after purchasing an additional 65,108 shares during the period. Morgan Stanley raised its holdings in Cboe Global Markets by 6.1% in the 4th quarter. Morgan Stanley now owns 2,691,162 shares of the company’s stock worth $675,482,000 after purchasing an additional 155,333 shares during the period. Finally, Invesco Ltd. boosted its position in Cboe Global Markets by 5.8% during the fourth quarter. Invesco Ltd. now owns 1,931,272 shares of the company’s stock worth $484,749,000 after purchasing an additional 105,168 shares in the last quarter. 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. 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.