Cboe Global Markets (NASDAQ:CBOE) Stock Price Down 4.8% – Here’s Why

Cboe Global Markets, Inc. (NASDAQ:CBOE)’s stock price fell 4.8% during trading on Tuesday . The company traded as low as $279.05 and last traded at $284.8840. 627,666 shares traded hands during trading, a decline of 30% from the average session volume of 896,476 shares. The stock had previously closed at $299.20.

Analyst Upgrades and Downgrades

CBOE has been the subject of a number of research analyst reports. Barclays upped their target price on shares of Cboe Global Markets from $295.00 to $317.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Loop Capital set a $317.00 price target on Cboe Global Markets in a report on Monday, February 9th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $303.00 price objective on shares of Cboe Global Markets in a research report on Monday, February 9th. TD Cowen reiterated a “hold” rating on shares of Cboe Global Markets in a report on Wednesday, January 14th. Finally, Morgan Stanley lifted their target price on Cboe Global Markets from $221.00 to $240.00 and gave the company an “underweight” rating in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $279.00.

Cboe Global Markets Trading Down 0.5%

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.78 and a quick ratio of 1.39. The business’s 50-day moving average is $276.08 and its two-hundred day moving average is $256.30. The firm has a market cap of $29.73 billion, a P/E ratio of 39.34, a P/E/G ratio of 1.75 and a beta of 0.33.

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

Cboe Global Markets Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, February 27th. Cboe Global Markets’s dividend payout ratio is presently 27.64%.

Insider Activity at Cboe Global Markets

In other Cboe Global Markets news, CAO Allen Wilkinson sold 248 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $292.79, for a total value of $72,611.92. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Fitzpatrick sold 3,947 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $285.87, for a total value of $1,128,328.89. Following the transaction, the director directly owned 12,921 shares in the company, valued at $3,693,726.27. This trade represents a 23.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 5,695 shares of company stock valued at $1,628,981. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Cboe Global Markets

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 120,021 shares during the period. Alliancebernstein L.P. raised its holdings 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 during the period. State Street Corp raised its holdings 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 during the period. Geode Capital Management LLC lifted its stake 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 valued at $750,940,000 after purchasing an additional 65,108 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Cboe Global Markets by 6.1% during the fourth 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. 82.67% of the stock is currently owned by institutional investors and hedge funds.

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.