Friedenthal Financial Makes New Investment in Cboe Global Markets, Inc. (BATS:CBOE)

20 Oct 2024, 12:38 by Mitch Edgeman · The Markets Daily

Friedenthal Financial acquired a new stake in shares of Cboe Global Markets, Inc. (BATS:CBOE – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 238 shares of the company’s stock, valued at approximately $49,000.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Cboe Global Markets by 119.4% during the 3rd quarter. Blue Trust Inc. now owns 1,931 shares of the company’s stock valued at $396,000 after buying an additional 1,051 shares in the last quarter. Inspire Advisors LLC bought a new stake in Cboe Global Markets during the third quarter worth about $630,000. V Square Quantitative Management LLC grew its holdings in Cboe Global Markets by 3.1% in the third quarter. V Square Quantitative Management LLC now owns 4,440 shares of the company’s stock worth $910,000 after purchasing an additional 133 shares during the period. CHB Investment Group LLC bought a new position in shares of Cboe Global Markets during the third quarter valued at approximately $3,125,000. Finally, Good Life Advisors LLC purchased a new position in shares of Cboe Global Markets during the third quarter valued at approximately $541,000. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Cboe Global Markets Trading Down 0.1 %

Shares of Cboe Global Markets stock opened at $209.28 on Friday. The company’s fifty day simple moving average is $208.15 and its 200-day simple moving average is $189.12. Cboe Global Markets, Inc. has a 1-year low of $103.82 and a 1-year high of $139.00. 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 market capitalization of $22.20 billion, a PE ratio of 107.87 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE – Get Free Report) last issued its earnings results on Friday, August 2nd. The company reported $2.15 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $514.51 million. During the same quarter last year, the company earned $1.78 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities analysts anticipate that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current year.

Cboe Global Markets announced that its Board of Directors has authorized a stock buyback program on Friday, August 16th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Cboe Global Markets Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Cboe Global Markets’s previous quarterly dividend of $0.55. Cboe Global Markets’s dividend payout ratio is 98.97%.

Insider Activity

In related news, CFO Jill Griebenow sold 1,622 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $213.33, for a total value of $346,021.26. Following the sale, the chief financial officer now directly owns 8,844 shares in the company, valued at approximately $1,886,690.52. 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 this hyperlink. In other Cboe Global Markets news, COO Christopher A. Isaacson sold 6,000 shares of Cboe Global Markets stock in a transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jill Griebenow sold 1,622 shares of the business’s 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,261 shares of company stock worth $3,604,822 over the last 90 days. Corporate insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CBOE. TD Cowen started coverage on shares of Cboe Global Markets in a research report on Thursday, September 26th. They set a “hold” rating and a $205.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cboe Global Markets from $186.00 to $205.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $220.00 price target on shares of Cboe Global Markets in a research report on Friday, October 4th. Barclays upped their price objective on Cboe Global Markets from $218.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Keefe, Bruyette & Woods lifted their target price on Cboe Global Markets from $197.00 to $198.00 and gave the stock a “market perform” rating in a report on Monday, August 5th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $208.75.

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About Cboe Global Markets

(Free Report)

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.