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 report issued on Wednesday morning, Marketbeat.com reports. They currently have $199.00 price objective on the stock.

CBOE has been the subject of several other reports. Piper Sandler lifted their price objective on Cboe Global Markets from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their price target on shares of Cboe Global Markets from $197.00 to $198.00 and gave the company a “market perform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upgraded shares of Cboe Global Markets from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $168.00 to $195.00 in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Cboe Global Markets from $214.00 to $212.00 and set a “hold” rating for the company in a research note on Monday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $220.00 target price on shares of Cboe Global Markets in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $208.58.

Cboe Global Markets Trading Down 5.3 %

Shares of CBOE opened at $200.91 on Wednesday. The company’s fifty day simple moving average is $209.59 and its 200-day simple moving average is $192.02. The company 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 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 twelve month low of $103.82 and a twelve month high of $139.00.

Cboe Global Markets (BATS:CBOE) last announced its earnings results on Friday, November 1st. The company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $532.00 million during the quarter, compared to analyst estimates of $530.46 million. During the same quarter in the previous year, the business earned $2.06 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, analysts expect that Cboe Global Markets will post 6.41 EPS for the current year.

Cboe Global Markets declared that its Board of Directors has authorized a share repurchase plan on Friday, August 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Cboe Global Markets Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.52 dividend on an annualized basis and a yield of 1.25%. Cboe Global Markets’s dividend payout ratio is currently 98.97%.

Insider Transactions at Cboe Global Markets

In related news, CFO Jill Griebenow sold 1,622 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $213.33, for a total value of $346,021.26. Following the transaction, the chief financial officer now owns 8,844 shares in the company, valued at approximately $1,886,690.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cboe Global Markets news, CFO Jill Griebenow sold 1,622 shares of Cboe Global Markets stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $213.33, for a total transaction of $346,021.26. Following the completion of the transaction, the chief financial officer now owns 8,844 shares in the company, valued at approximately $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 accessible through this link. Also, 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 of the company’s stock, valued at $8,165,890.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,696 shares of company stock worth $1,591,160 over the last three months. 0.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cboe Global Markets

A number of institutional investors have recently modified their holdings of CBOE. Tandem Investment Advisors Inc. grew its holdings in 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 period. Los Angeles Capital Management LLC increased its holdings in Cboe Global Markets by 8.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 668,834 shares of the company’s stock worth $137,024,000 after acquiring an additional 51,793 shares in the last quarter. Dimensional Fund Advisors LP raised its position in 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 acquiring an additional 55,876 shares during the period. Marshall Wace LLP lifted its holdings in Cboe Global Markets by 306.6% during the second 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 in the last quarter. Finally, TD Asset Management Inc raised its stake in Cboe Global Markets by 36.2% in the 2nd quarter. TD Asset Management Inc now owns 499,995 shares of the company’s stock valued at $85,029,000 after purchasing an additional 132,833 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.

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.