Morgan Stanley Reiterates “Equal Weight” Rating for CBOE Holdings Inc. (CBOE)
Morgan Stanley reiterated their equal weight rating on shares of CBOE Holdings Inc. (NASDAQ:CBOE) in a report released on Wednesday. The brokerage currently has a $32.50 price target on the stock, up from their prior price target of $26.00.
Several other research firms have also recently commented on CBOE. Zacks Investment Research upgraded CBOE Holdings from a sell rating to a hold rating in a research note on Monday, June 27th. Deutsche Bank AG restated a hold rating on shares of CBOE Holdings in a research note on Sunday, June 26th. Barclays PLC boosted their target price on CBOE Holdings from $51.00 to $53.00 and gave the company an underweight rating in a research note on Thursday, July 7th. JPMorgan Chase & Co. restated a hold rating and issued a $61.00 target price on shares of CBOE Holdings in a research note on Wednesday, August 3rd. Finally, Bank of America Corp. cut CBOE Holdings from a neutral rating to an underperform rating and cut their target price for the company from $68.29 to $65.00 in a research note on Thursday, August 11th. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $65.26.
Shares of CBOE Holdings (NASDAQ:CBOE) opened at 64.58 on Wednesday. CBOE Holdings has a 52-week low of $58.43 and a 52-week high of $72.53. The stock has a 50 day moving average price of $67.76 and a 200 day moving average price of $66.17. The company has a market capitalization of $5.25 billion, a PE ratio of 24.43 and a beta of 0.55.
CBOE Holdings (NASDAQ:CBOE) last released its quarterly earnings data on Friday, July 29th. The company reported $0.60 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. CBOE Holdings had a return on equity of 81.50% and a net margin of 32.55%. The business had revenue of $163.30 million for the quarter, compared to analysts’ expectations of $159.22 million. During the same quarter in the previous year, the business posted $0.54 EPS. CBOE Holdings’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts predict that CBOE Holdings will post $2.40 earnings per share for the current fiscal year.
In other CBOE Holdings news, CEO Edward T. Tilly sold 6,250 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $67.86, for a total value of $424,125.00. Following the transaction, the chief executive officer now directly owns 73,611 shares of the company’s stock, valued at approximately $4,995,242.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.96% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in CBOE. Steinberg Global Asset Management bought a new stake in CBOE Holdings during the second quarter worth $203,000. Tower Research Capital LLC TRC increased its stake in CBOE Holdings by 53.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,204 shares of the company’s stock worth $213,000 after buying an additional 1,115 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in CBOE Holdings during the third quarter worth $220,000. Raymond James & Associates increased its stake in CBOE Holdings by 2.2% in the second quarter. Raymond James & Associates now owns 3,609 shares of the company’s stock worth $240,000 after buying an additional 76 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in CBOE Holdings during the second quarter worth $246,000. Hedge funds and other institutional investors own 73.72% of the company’s stock.
About CBOE Holdings
CBOE Holdings, Inc is a holding company. The Company’s principal business is operating markets that offer for trading options on various market indexes (index options), on an exclusive basis and futures contracts, as well as on non-exclusive multiply listed options, such as options on the stocks of individual corporations (equity options), and options on other exchange-traded products (ETP options), such as exchange-traded funds (ETF options) and exchange-traded notes (ETN options).
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