Charles Schwab Investment Management Inc. Reduces Holdings in Cboe Global Markets, Inc. (NASDAQ:CBOE)

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Cboe Global Markets by 1.1%, now owning 579,334 shares valued at approximately $131 million.
• Cboe Global Markets reported Q2 earnings of $2.46 EPS, surpassing estimates, with a revenue increase of 14.3% year-over-year.
• Equities analysts have set diverse price targets for Cboe, with recommendations ranging from $248 to $265, indicating varying levels of market performance outlook.

Charles Schwab Investment Management Inc. lowered its holdings in shares of Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 579,334 shares of the company's stock after selling 6,322 shares during the period. Charles Schwab Investment Management Inc. owned 0.55% of Cboe Global Markets worth $131,097,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CBOE. Clearstead Trust LLC acquired a new stake in Cboe Global Markets during the 1st quarter worth $26,000. NBC Securities Inc. acquired a new stake in Cboe Global Markets during the 1st quarter worth $27,000. Greenline Partners LLC acquired a new stake in Cboe Global Markets during the 4th quarter worth $29,000. Hughes Financial Services LLC acquired a new stake in Cboe Global Markets during the 1st quarter worth $29,000. Finally, Cornerstone Planning Group LLC raised its position in Cboe Global Markets by 4,633.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 142 shares of the company's stock worth $30,000 after buying an additional 139 shares during the last quarter. Institutional investors and hedge funds own 82.67% of the company's stock.

Cboe Global Markets Stock Performance

Shares of CBOE opened at $253.24 on Tuesday. The company has a 50-day simple moving average of $234.50 and a 200-day simple moving average of $222.53. The company has a quick ratio of 1.39, a current ratio of 1.78 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $26.49 billion, a PE ratio of 35.07, a P/E/G ratio of 1.75 and a beta of 0.46. Cboe Global Markets, Inc. has a 52-week low of $187.30 and a 52-week high of $255.27.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.43 by $0.03. Cboe Global Markets had a net margin of 18.64% and a return on equity of 22.02%. Cboe Global Markets's revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.15 earnings per share. Equities research analysts predict that Cboe Global Markets, Inc. will post 8.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cboe Global Markets news, EVP Catherine R. Clay sold 3,598 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $226.58, for a total transaction of $815,234.84. Following the completion of the transaction, the executive vice president directly owned 2,183 shares in the company, valued at approximately $494,624.14. This trade represents a 62.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank Of Canada restated a "sector perform" rating and set a $254.00 price objective on shares of Cboe Global Markets in a research report on Monday, August 4th. Keefe, Bruyette & Woods upped their price objective on shares of Cboe Global Markets from $243.00 to $248.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Piper Sandler upped their price objective on shares of Cboe Global Markets from $250.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Cowen restated a "hold" rating on shares of Cboe Global Markets in a research report on Monday, May 5th. Finally, Oppenheimer set a $265.00 price objective on shares of Cboe Global Markets and gave the stock an "outperform" rating in a research report on Monday, August 4th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $231.38.

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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