Cboe Global Markets (NASDAQ:CBOE) Stock Price Down 4.8% – Should You Sell?

Cboe Global Markets, Inc. (NASDAQ:CBOE) traded down 4.8% during trading on Tuesday . The stock 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.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CBOE. Morgan Stanley boosted their price target on Cboe Global Markets from $221.00 to $240.00 and gave the company an “underweight” rating in a research note on Monday, December 22nd. Zacks Research upgraded shares of Cboe Global Markets from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Piper Sandler boosted their target price on shares of Cboe Global Markets from $290.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. UBS Group reissued a “neutral” rating and set a $290.00 target price on shares of Cboe Global Markets in a research note on Monday, February 9th. Finally, Loop Capital set a $317.00 price target on shares of Cboe Global Markets in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $279.00.

Cboe Global Markets Stock Down 4.2%

The stock has a market cap of $29.99 billion, a price-to-earnings ratio of 39.59, a PEG ratio of 1.75 and a beta of 0.33. The stock has a 50 day simple moving average of $274.80 and a 200 day simple moving average of $255.83. The company has a quick ratio of 1.39, a current ratio of 1.78 and a debt-to-equity ratio of 0.34.

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

Cboe Global Markets Dividend Announcement

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

Insider Buying and Selling at Cboe Global Markets

In related news, CAO Allen Wilkinson sold 248 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $292.79, for a total value of $72,611.92. Following the transaction, the chief accounting officer owned 410 shares of the company’s stock, valued at approximately $120,043.90. This trade represents a 37.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Fitzpatrick sold 3,947 shares of Cboe Global Markets stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $285.87, for a total value of $1,128,328.89. Following the transaction, the director owned 12,921 shares of the company’s stock, 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 three months, insiders have sold 5,695 shares of company stock valued at $1,628,981. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of Cboe Global Markets

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC lifted its holdings in shares of Cboe Global Markets by 102.2% in the fourth quarter. Sound Income Strategies LLC now owns 91 shares of the company’s stock valued at $25,000 after purchasing an additional 46 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in Cboe Global Markets during the fourth quarter worth $26,000. Headlands Technologies LLC purchased a new stake in Cboe Global Markets in the 2nd quarter valued at $31,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Cboe Global Markets in the 2nd quarter valued at $33,000. Finally, Physician Wealth Advisors Inc. lifted its stake in Cboe Global Markets by 70.5% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 55 shares in the last quarter. 82.67% of the stock is owned by institutional investors.

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.