Cboe Global Markets (NASDAQ:CBOE) Reaches New 12-Month High – Here’s Why

Cboe Global Markets, Inc. (NASDAQ:CBOE)’s stock price hit a new 52-week high on Monday . The company traded as high as $305.00 and last traded at $304.13, with a volume of 78887 shares. The stock had previously closed at $299.72.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $303.00 price target on shares of Cboe Global Markets in a report on Monday, February 9th. Loop Capital set a $317.00 target price on Cboe Global Markets in a report on Monday, February 9th. Zacks Research raised Cboe Global Markets from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Cboe Global Markets in a research report on Monday, November 3rd. Finally, Barclays boosted their price objective on Cboe Global Markets from $295.00 to $317.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cboe Global Markets presently has a consensus rating of “Hold” and an average price target of $279.00.

Cboe Global Markets Stock Performance

The firm has a 50-day simple moving average of $269.41 and a two-hundred day simple moving average of $253.61. The company has a current ratio of 1.78, a quick ratio of 1.39 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $31.54 billion, a price-to-earnings ratio of 41.74, a price-to-earnings-growth ratio of 1.75 and a beta of 0.36.

Cboe Global Markets (NASDAQ:CBOE) last announced its quarterly earnings results on Friday, February 6th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.95 by $0.11. Cboe Global Markets had a return on equity of 22.02% and a net margin of 18.64%.During the same period in the previous year, the business posted $2.10 earnings per share. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, sell-side analysts forecast that Cboe Global Markets, Inc. will post 8.96 earnings per share for the current fiscal year.

Insider Activity

In other Cboe Global Markets news, CAO Allen Wilkinson sold 248 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $292.79, for a total value of $72,611.92. Following the sale, the chief accounting officer directly owned 410 shares in the company, valued at $120,043.90. This trade represents a 37.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alexander Matturri, Jr. sold 1,500 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $285.36, for a total value of $428,040.00. Following the transaction, the director owned 4,761 shares in the company, valued at $1,358,598.96. This represents a 23.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 5,695 shares of company stock valued at $1,628,981. 0.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBOE. Vanguard Group Inc. boosted its stake in Cboe Global Markets by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,955,689 shares of the company’s stock valued at $3,251,878,000 after buying an additional 120,021 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Cboe Global Markets by 4.1% in the 2nd quarter. Alliancebernstein L.P. now owns 9,854,571 shares of the company’s stock valued at $2,298,185,000 after purchasing an additional 390,034 shares in the last quarter. State Street Corp increased its position in shares of Cboe Global Markets by 2.1% during the 3rd quarter. State Street Corp now owns 4,996,816 shares of the company’s stock worth $1,225,469,000 after purchasing an additional 101,349 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Cboe Global Markets by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 2,987,134 shares of the company’s stock valued at $750,940,000 after purchasing an additional 65,108 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Cboe Global Markets by 6.1% during the 4th quarter. Morgan Stanley now owns 2,691,162 shares of the company’s stock valued at $675,482,000 after purchasing an additional 155,333 shares during the last quarter. Institutional investors own 82.67% of the company’s stock.

About Cboe Global Markets

Cboe Global Markets (NASDAQ: CBOE) is a global market infrastructure company that operates a family of exchanges and trading venues across listed derivatives, cash equities and foreign exchange. Its product suite includes options and futures markets, multiple U.S. equities exchanges, a derivatives exchange for volatility and other products, proprietary benchmark indexes (notably the Cboe Volatility Index, or VIX), market data and analytics, and trading technology and connectivity services. Cboe also provides market-access and order-routing tools used by broker-dealers, institutional investors and professional traders.

The company traces its roots to the Chicago Board Options Exchange, which was established in 1973 to create a centralized market for listed options; over the years the business expanded through organic growth and strategic acquisitions to become a multi-asset, multi-venue operator.