Cboe Global Markets (CBOE) Receives Outperform Rating from Wells Fargo & Co
Cboe Global Markets (NASDAQ:CBOE)‘s stock had its “outperform” rating reissued by research analysts at Wells Fargo & Co in a research report issued to clients and investors on Monday, The Fly reports. They currently have a $128.00 target price on the financial services provider’s stock, up from their previous target price of $120.00. Wells Fargo & Co’s target price points to a potential upside of 11.30% from the company’s current price.
Other research analysts have also issued research reports about the company. BidaskClub lowered Cboe Global Markets from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Deutsche Bank upgraded Cboe Global Markets from a “hold” rating to a “buy” rating and reduced their price objective for the company from $137.00 to $120.00 in a research report on Monday, February 12th. Goldman Sachs Group lowered Cboe Global Markets from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 7th. Barclays reduced their price objective on Cboe Global Markets from $127.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Cboe Global Markets from $110.00 to $108.00 and set a “hold” rating for the company in a research report on Tuesday, February 13th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $119.36.
Cboe Global Markets (CBOE) opened at $115.00 on Monday. Cboe Global Markets has a 12-month low of $77.68 and a 12-month high of $138.54. The stock has a market capitalization of $12,961.06, a P/E ratio of 32.39, a P/E/G ratio of 1.41 and a beta of 0.63. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.30 and a current ratio of 1.30.
Cboe Global Markets declared that its Board of Directors has initiated a share buyback program on Tuesday, February 27th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
In other Cboe Global Markets news, Director Frank E. Jr. English sold 300 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $123.80, for a total transaction of $37,140.00. Following the completion of the transaction, the director now owns 4,214 shares in the company, valued at approximately $521,693.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Edward T. Tilly sold 5,000 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $126.28, for a total value of $631,400.00. Following the transaction, the chairman now owns 70,611 shares of the company’s stock, valued at approximately $8,916,757.08. The disclosure for this sale can be found here. Insiders own 1.86% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CBOE. Assetmark Inc. bought a new stake in shares of Cboe Global Markets in the 4th quarter worth $106,000. SeaCrest Wealth Management LLC bought a new stake in shares of Cboe Global Markets in the 4th quarter worth $143,000. AlphaOne Investment Services LLC bought a new stake in shares of Cboe Global Markets in the 4th quarter worth $162,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of Cboe Global Markets by 240.0% in the 4th quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,360 shares of the financial services provider’s stock worth $169,000 after buying an additional 960 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Cboe Global Markets by 197.7% in the 4th quarter. Parallel Advisors LLC now owns 1,581 shares of the financial services provider’s stock worth $197,000 after buying an additional 1,050 shares in the last quarter. Institutional investors own 83.18% of the company’s stock.
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About Cboe Global Markets
Cboe Global Markets, Inc, formerly CBOE Holdings, Inc, is a holding company. The Company provides trading and investment solutions to investors around the world. It offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, United States and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and multi-asset volatility products based on the Cboe Volatility Index (VIX Index).
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