Contravisory Investment Management Inc. Invests $741,000 in Cboe Global Markets, Inc. $CBOE

Key Points

• Contravisory Investment Management Inc. has acquired 3,179 shares of Cboe Global Markets, Inc., valued at approximately $741,000, during the second quarter.
• Cboe Global Markets increased its quarterly dividend to $0.72 per share, reflecting a boost from the previous $0.63 and a dividend yield of 1.2%.
• The stock has a market capitalization of $24.78 billion and reported earnings per share of $2.46, which exceeded analyst expectations.

Contravisory Investment Management Inc. purchased a new stake in Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,179 shares of the company's stock, valued at approximately $741,000.

Other hedge funds have also recently bought and sold shares of the company. Clearstead Trust LLC bought a new stake in Cboe Global Markets in the 1st quarter valued at $26,000. NBC Securities Inc. bought a new stake in Cboe Global Markets in the 1st quarter valued at $27,000. Hughes Financial Services LLC bought a new position in shares of Cboe Global Markets during the 1st quarter worth about $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of 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 acquiring an additional 139 shares during the period. Finally, Pandora Wealth Inc. bought a new position in shares of Cboe Global Markets during the 1st quarter worth about $45,000. 82.67% of the stock is owned by institutional investors.

Cboe Global Markets Price Performance

Shares of CBOE traded down $1.56 during mid-day trading on Friday, reaching $232.87. The company had a trading volume of 982,858 shares, compared to its average volume of 875,105. 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, Inc. has a 1-year low of $187.30 and a 1-year high of $255.27. The company's 50 day simple moving average is $240.96 and its 200 day simple moving average is $228.70. The company has a market capitalization of $24.36 billion, a price-to-earnings ratio of 32.25, a P/E/G ratio of 1.75 and a beta of 0.46.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $2.46 earnings per share 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%. During the same period last year, the business earned $2.15 EPS. Cboe Global Markets's revenue was up 14.3% compared to the same quarter last year. Analysts expect that Cboe Global Markets, Inc. will post 8.96 EPS for the current year.

Cboe Global Markets Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.88 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Cboe Global Markets's previous quarterly dividend of $0.63. Cboe Global Markets's payout ratio is presently 33.76%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Cboe Global Markets from $250.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $254.00 price objective on shares of Cboe Global Markets in a report on Monday, August 4th. Citigroup raised their price objective on shares of Cboe Global Markets from $230.00 to $245.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods lifted their price target on shares of Cboe Global Markets from $243.00 to $248.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Finally, UBS Group reissued a "neutral" rating and set a $255.00 price target (up from $245.00) on shares of Cboe Global Markets in a report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price 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.