Royal Bank of Canada Reiterates Sector Perform Rating for Cboe Global Markets (BATS:CBOE)

Cboe Global Markets (BATS:CBOE)‘s stock had its “sector perform” rating reissued by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $220.00 target price on the stock. Royal Bank of Canada’s price target suggests a potential upside of 4.55% from the company’s previous close.

Several other research analysts have also commented on the stock. TD Cowen initiated coverage on Cboe Global Markets in a research report on Thursday, September 26th. They issued a “hold” rating and a $205.00 target price for the company. Keefe, Bruyette & Woods increased their price objective on shares of Cboe Global Markets from $197.00 to $198.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised shares of Cboe Global Markets from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $168.00 to $195.00 in a research report on Monday, August 5th. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price target (up from $203.00) on shares of Cboe Global Markets in a report on Monday, August 5th. Finally, Oppenheimer lifted their price target 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, August 5th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $204.67.

Cboe Global Markets Stock Performance

Shares of CBOE opened at $210.42 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. Cboe Global Markets has a 12-month low of $103.82 and a 12-month high of $139.00. The stock has a market cap of $22.32 billion, a P/E ratio of 108.46 and a beta of 0.61. The company has a 50-day moving average of $205.34 and a two-hundred day moving average of $187.25.

Cboe Global Markets (BATS:CBOE) last issued its quarterly earnings results on Friday, August 2nd. The company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.05. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. The company had revenue of $513.80 million during the quarter, compared to the consensus estimate of $514.51 million. During the same period in the previous year, the firm posted $1.78 EPS. Cboe Global Markets’s revenue was up 10.0% on a year-over-year basis. As a group, research analysts predict that Cboe Global Markets will post 6.41 EPS for the current fiscal year.

Cboe Global Markets announced that its board has approved a share buyback 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, EVP Dave Howson sold 2,500 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $186.67, for a total transaction of $466,675.00. Following the transaction, the executive vice president now directly owns 15,073 shares of the company’s stock, valued at approximately $2,813,676.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Catherine R. Clay sold 600 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $203.23, for a total transaction of $121,938.00. Following the completion of the sale, the executive vice president now directly owns 4,328 shares in the company, valued at approximately $879,579.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dave Howson sold 2,500 shares of Cboe Global Markets stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $186.67, for a total value of $466,675.00. Following the sale, the executive vice president now directly owns 15,073 shares of the company’s stock, valued at approximately $2,813,676.91. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,261 shares of company stock valued at $3,604,822 over the last three months. Insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Cboe Global Markets

A number of large investors have recently bought and sold shares of CBOE. Tandem Investment Advisors Inc. grew its position in shares of Cboe Global Markets by 4.4% in the second quarter. Tandem Investment Advisors Inc. now owns 835,216 shares of the company’s stock valued at $142,037,000 after purchasing an additional 35,336 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Cboe Global Markets by 66.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 617,041 shares of the company’s stock worth $104,934,000 after buying an additional 246,442 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Cboe Global Markets by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 566,657 shares of the company’s stock worth $96,367,000 after buying an additional 55,876 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Cboe Global Markets by 306.6% in the second quarter. Marshall Wace LLP now owns 533,839 shares of the company’s stock valued at $90,785,000 after acquiring an additional 402,547 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Cboe Global Markets by 19.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 526,423 shares of the company’s stock worth $93,998,000 after acquiring an additional 85,433 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors.

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.