Mount Lucas Management LP Cuts Position in Cboe Global Markets, Inc. (BATS:CBOE)

Mount Lucas Management LP decreased its position in shares of Cboe Global Markets, Inc. (BATS:CBOE) by 42.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,943 shares of the company’s stock after selling 5,950 shares during the period. Mount Lucas Management LP’s holdings in Cboe Global Markets were worth $1,627,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors LLC lifted its position in Cboe Global Markets by 1.3% in the 3rd quarter. Natixis Advisors LLC now owns 92,185 shares of the company’s stock worth $18,886,000 after buying an additional 1,211 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Cboe Global Markets by 2.7% during the third quarter. Empowered Funds LLC now owns 9,082 shares of the company’s stock worth $1,861,000 after acquiring an additional 243 shares in the last quarter. Empirical Finance LLC lifted its holdings in shares of Cboe Global Markets by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 3,649 shares of the company’s stock worth $748,000 after acquiring an additional 74 shares during the last quarter. Metis Global Partners LLC boosted its stake in shares of Cboe Global Markets by 6.0% in the 3rd quarter. Metis Global Partners LLC now owns 5,414 shares of the company’s stock valued at $1,109,000 after purchasing an additional 306 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its holdings in shares of Cboe Global Markets by 25.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 2,053 shares of the company’s stock valued at $421,000 after purchasing an additional 410 shares during the last quarter. Institutional investors own 81.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CBOE. Royal Bank of Canada restated a “sector perform” rating and set a $220.00 price target on shares of Cboe Global Markets in a research report on Monday, November 4th. Oppenheimer lifted their price target on Cboe Global Markets from $209.00 to $227.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Piper Sandler increased their price objective on Cboe Global Markets from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Cboe Global Markets from a “hold” rating to a “buy” rating and raised their target price for the stock from $212.00 to $222.00 in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. upgraded shares of Cboe Global Markets from an “underweight” rating to a “neutral” rating and upped their price target for the company from $168.00 to $195.00 in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cboe Global Markets currently has a consensus rating of “Hold” and an average price target of $209.42.

Cboe Global Markets Price Performance

Shares of BATS CBOE opened at $200.71 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.21. Cboe Global Markets, Inc. has a 1 year low of $103.82 and a 1 year high of $139.00. The company’s 50-day moving average is $208.04 and its 200 day moving average is $193.00. The stock has a market capitalization of $21.29 billion, a P/E ratio of 103.46 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last released its earnings results on Friday, November 1st. The company reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.03. The company had revenue of $532.00 million during the quarter, compared to analysts’ expectations of $530.46 million. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.06 EPS. On average, sell-side analysts expect that Cboe Global Markets, Inc. will post 6.41 earnings per share for the current year.

Cboe Global Markets Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, November 29th. Cboe Global Markets’s dividend payout ratio is presently 98.97%.

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

Insider Buying and Selling

In other Cboe Global Markets news, COO Christopher A. Isaacson sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.89, for a total value of $1,229,340.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jill Griebenow sold 1,622 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $1,886,690.52. The trade was a 15.50 % 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 in the last three months. 0.51% of the stock is owned by corporate insiders.

Cboe Global Markets 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.