Entropy Technologies LP Acquires Shares of 40,557 CME Group Inc. $CME

Key Points

• Entropy Technologies LP disclosed a new first-quarter position in CME Group, buying 40,557 shares worth about $12.0 million.
• CME Group’s latest quarterly results were better than expected, with EPS of $2.99 versus estimates of $2.91 and revenue of $1.71 billion topping forecasts; the stock rose after the earnings beat.
• Institutional and insider activity was mixed: several funds added small positions, Director William R. Shepard bought shares, while insider Hilda Harris Piell sold stock, and analysts remain split with a Hold consensus and an average price target of $291.81.

Entropy Technologies LP bought a new position in CME Group Inc. (NASDAQ:CME - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 40,557 shares of the financial services provider's stock, valued at approximately $11,979,000.

A number of other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC raised its stake in shares of CME Group by 2,075.0% in the first quarter. Whipplewood Advisors LLC now owns 87 shares of the financial services provider's stock worth $26,000 after purchasing an additional 83 shares during the last quarter. Asset Dedication LLC boosted its holdings in CME Group by 64.9% in the fourth quarter. Asset Dedication LLC now owns 94 shares of the financial services provider's stock worth $26,000 after purchasing an additional 37 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of CME Group in the fourth quarter worth $27,000. Elkhorn Partners Limited Partnership bought a new stake in shares of CME Group during the 4th quarter valued at about $27,000. Finally, Hilton Head Capital Partners LLC bought a new stake in CME Group during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 87.75% of the company's stock.

CME Group News Roundup

Here are the key news stories impacting CME Group this week:

• Positive Sentiment: CME Group’s Q2 results topped expectations, and the stock was reported higher on the earnings beat. US Stock Market: CME shares jump 6% after Q2 profit beats estimates; strong hedging demand boosts results
• Positive Sentiment: Analysts noted strong fundamentals and at least one rating upgrade following the earnings release, which can support investor confidence. CME Group: Q2 Earnings Results Lead To A Rating Upgrade
• Neutral Sentiment: UBS reiterated a Hold rating and kept its $260 target, signaling solid fundamentals but limited upside at current valuation. Neutral Stance Reiterated on CME as Solid Fundamentals Meet Valuation Limits; $260 Price Target Maintained
• Negative Sentiment: Bank of America and JPMorgan both maintained bearish/underweight views, even though they slightly raised price targets, highlighting ongoing caution about upside. Analyst price target updates
• Negative Sentiment: Short-interest data showed no meaningful short position, so this headline is unlikely to be a real stock driver and does not change the core thesis.

Insiders Place Their Bets

In other news, Director William R. Shepard bought 325 shares of the stock in a transaction dated Thursday, June 25th. The stock was purchased at an average cost of $230.57 per share, for a total transaction of $74,935.25. Following the transaction, the director owned 260,442 shares of the company's stock, valued at $60,050,111.94. The trade was a 0.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Hilda Harris Piell sold 5,753 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $304.63, for a total transaction of $1,752,536.39. Following the sale, the insider directly owned 27,702 shares in the company, valued at approximately $8,438,860.26. The trade was a 17.20% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.30% of the company's stock.

CME Group Stock Up 0.4%

Shares of CME stock opened at $255.31 on Friday. The company's fifty day simple moving average is $254.13 and its two-hundred day simple moving average is $281.22. CME Group Inc. has a 52 week low of $218.31 and a 52 week high of $329.16. The stock has a market cap of $92.51 billion, a P/E ratio of 21.65, a PEG ratio of 3.16 and a beta of 0.25. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13.

CME Group (NASDAQ:CME - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, beating analysts' consensus estimates of $2.91 by $0.08. CME Group had a return on equity of 15.60% and a net margin of 63.30%.The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business posted $2.96 earnings per share. The business's quarterly revenue was up .8% compared to the same quarter last year. Analysts predict that CME Group Inc. will post 12.18 EPS for the current fiscal year.

CME Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Tuesday, June 9th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, June 9th. CME Group's dividend payout ratio (DPR) is currently 44.11%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CME. Weiss Ratings lowered shares of CME Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, July 13th. The Goldman Sachs Group lowered their price objective on CME Group from $267.00 to $245.00 and set a "sell" rating on the stock in a research report on Tuesday, June 30th. Piper Sandler cut their target price on CME Group from $329.00 to $295.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Rothschild & Co Redburn upgraded CME Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $316.00 to $323.00 in a research report on Thursday, June 11th. Finally, Jefferies Financial Group lowered their price target on CME Group from $356.00 to $349.00 and set a "buy" rating on the stock in a report on Thursday, April 9th. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $291.81.

CME Group Company Profile

CME Group Inc is a global markets company that operates some of the world's largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company's core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.

Want to see what other hedge funds are holding CME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CME Group Inc. (NASDAQ:CME - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.