Cboe Global Markets (NASDAQ:CBOE) Downgraded by Morgan Stanley to Underweight

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) was downgraded by investment analysts at Morgan Stanley from an "overweight" rating to an "underweight" rating in a research report issued to clients and investors on Wednesday,Finviz reports. They presently have a $215.00 price objective on the stock. Morgan Stanley's price target suggests a potential downside of 2.44% from the stock's current price.

CBOE has been the topic of a number of other reports. Oppenheimer raised their price objective on Cboe Global Markets from $237.00 to $249.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Loop Capital set a $227.00 price target on shares of Cboe Global Markets in a research report on Monday, May 5th. Bank of America reiterated a "neutral" rating and set a $227.00 price objective (down from $260.00) on shares of Cboe Global Markets in a research note on Thursday, April 10th. Piper Sandler raised their target price on shares of Cboe Global Markets from $234.00 to $245.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, StockNews.com raised shares of Cboe Global Markets from a "sell" rating to a "hold" rating in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $219.64.

Cboe Global Markets Trading Down 0.3%

CBOE stock opened at $220.38 on Wednesday. The firm's 50 day moving average is $217.72. The firm has a market cap of $23.08 billion, a P/E ratio of 30.52, a price-to-earnings-growth ratio of 1.75 and a beta of 0.44. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.39 and a current ratio of 1.78. Cboe Global Markets has a 12-month low of $166.13 and a 12-month high of $236.02.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.14. Cboe Global Markets had a return on equity of 22.02% and a net margin of 18.64%. The business's revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.15 earnings per share. Sell-side analysts forecast that Cboe Global Markets will post 8.96 earnings per share for the current fiscal year.

Insider Transactions at Cboe Global Markets

In related news, CAO Allen Wilkinson sold 228 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $211.12, for a total transaction of $48,135.36. Following the completion of the sale, the chief accounting officer now directly owns 248 shares in the company, valued at approximately $52,357.76. This trade represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Adam Inzirillo sold 200 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $209.67, for a total value of $41,934.00. Following the completion of the transaction, the executive vice president now directly owns 1,993 shares in the company, valued at $417,872.31. This represents a 9.12% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company's stock.

Institutional Trading of Cboe Global Markets

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. boosted its stake in Cboe Global Markets by 208.4% in the 4th quarter. Alliancebernstein L.P. now owns 7,685,489 shares of the company's stock worth $1,501,745,000 after purchasing an additional 5,193,339 shares during the period. Norges Bank acquired a new stake in shares of Cboe Global Markets in the fourth quarter worth $269,524,000. GAMMA Investing LLC grew its holdings in shares of Cboe Global Markets by 29,094.5% during the first quarter. GAMMA Investing LLC now owns 1,216,535 shares of the company's stock valued at $275,290,000 after buying an additional 1,212,368 shares in the last quarter. Nuveen LLC purchased a new position in shares of Cboe Global Markets during the first quarter valued at $74,789,000. Finally, Raymond James Financial Inc. acquired a new position in Cboe Global Markets during the fourth quarter valued at $59,206,000. Institutional investors and hedge funds own 82.67% of the company's stock.

About Cboe Global Markets

Cboe Global Markets, Inc is one of the largest stock exchange operators by volume in the United States and a leading market globally for ETP trading. Cboe offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and multi-asset volatility products based on the VIX Index.

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