Cboe Global Markets (BATS:CBOE) Reaches New 52-Week High – Still a Buy?

Cboe Global Markets, Inc. (BATS:CBOE)’s stock price reached a new 52-week high on Monday . The stock traded as high as $207.28 and last traded at $205.70, with a volume of 1400979 shares trading hands. The stock had previously closed at $200.71.

Analyst Ratings Changes

Several analysts have issued reports on the stock. TD Cowen started coverage on shares of Cboe Global Markets in a research report on Thursday, September 26th. They issued a “hold” rating and a $205.00 price target on the stock. Oppenheimer raised their price target on Cboe Global Markets from $209.00 to $227.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Barclays cut their price target on Cboe Global Markets from $239.00 to $230.00 and set an “overweight” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. raised 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. Finally, Piper Sandler boosted their target price on shares of Cboe Global Markets from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $209.42.

Cboe Global Markets Stock Performance

The stock has a market cap of $21.82 billion, a PE ratio of 103.46 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 has a 50-day simple moving average of $208.04 and a 200-day simple moving average of $193.09.

Cboe Global Markets (BATS:CBOE) last issued its earnings results on Friday, November 1st. The company reported $2.22 earnings per share (EPS) for the quarter, topping 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 business had revenue of $532.00 million during the quarter, compared to analysts’ expectations of $530.46 million. During the same quarter in the previous year, the business earned $2.06 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts predict that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current fiscal year.

Cboe Global Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.52 annualized dividend and a dividend yield of 1.23%. Cboe Global Markets’s payout ratio is 98.97%.

Cboe Global Markets announced that its Board of Directors has initiated a stock repurchase plan on Friday, August 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Cboe Global Markets

In related news, CFO Jill Griebenow sold 1,622 shares of Cboe Global Markets stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $213.33, for a total transaction of $346,021.26. Following the sale, the chief financial officer now owns 8,844 shares of the company’s stock, valued at $1,886,690.52. The trade was a 15.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Christopher A. Isaacson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at approximately $8,165,890.95. The trade was a 13.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,696 shares of company stock valued at $1,591,160 over the last three months. 0.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. US Bancorp DE boosted its stake in shares of Cboe Global Markets by 60.9% during the 1st quarter. US Bancorp DE now owns 4,333 shares of the company’s stock valued at $796,000 after buying an additional 1,640 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Cboe Global Markets by 7.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 50,920 shares of the company’s stock worth $9,356,000 after acquiring an additional 3,586 shares in the last quarter. UniSuper Management Pty Ltd increased its position in shares of Cboe Global Markets by 431.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 6,223 shares of the company’s stock worth $1,143,000 after purchasing an additional 5,051 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Cboe Global Markets during the first quarter worth about $1,304,000. Finally, Bessemer Group Inc. lifted its position in shares of Cboe Global Markets by 31.9% during the first quarter. Bessemer Group Inc. now owns 760 shares of the company’s stock worth $140,000 after purchasing an additional 184 shares during the last quarter. Institutional investors and hedge funds own 81.73% of the company’s stock.

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.