Headlands Technologies LLC Decreases Holdings in CME Group Inc. (NASDAQ:CME)

Key Points

• Headlands Technologies LLC significantly reduced its stake in CME Group Inc. by 51.9%, holding 9,450 shares valued at approximately $2.5 million after selling 10,210 shares during the first quarter.
• Other institutional investors have also modified their holdings, with notable increases from Cornerstone Planning Group LLC and Golden State Wealth Management LLC, reflecting heightened interest in CME Group.
• In recent analyst ratings, numerous firms adjusted their price targets, with Morgan Stanley increasing its target from $301 to $304, while Erste Group downgraded CME from a "strong-buy" to a "hold" rating.

Headlands Technologies LLC lowered its stake in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 51.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,450 shares of the financial services provider's stock after selling 10,210 shares during the period. Headlands Technologies LLC's holdings in CME Group were worth $2,507,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CME. Wayfinding Financial LLC purchased a new stake in CME Group during the 1st quarter worth approximately $25,000. Cornerstone Planning Group LLC boosted its stake in shares of CME Group by 122.2% in the first quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider's stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of CME Group by 612.5% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $30,000 after purchasing an additional 98 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of CME Group during the first quarter worth approximately $32,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in CME Group in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 87.75% of the company's stock.

Insider Activity at CME Group

In other CME Group news, Director Phyllis M. Lockett sold 1,060 shares of CME Group stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $277.88, for a total transaction of $294,552.80. Following the completion of the sale, the director directly owned 3,108 shares in the company, valued at $863,651.04. This trade represents a 25.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jonathan L. Marcus sold 390 shares of CME Group stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $277.50, for a total transaction of $108,225.00. Following the sale, the general counsel owned 6,708 shares of the company's stock, valued at approximately $1,861,470. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,750 shares of company stock valued at $1,576,294 over the last ninety days. Corporate insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

CME has been the topic of several recent research reports. Erste Group Bank cut shares of CME Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 24th. Barclays set a $298.00 price target on shares of CME Group and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Morgan Stanley raised their price target on shares of CME Group from $301.00 to $304.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods raised their price target on shares of CME Group from $265.00 to $273.00 and gave the stock a "market perform" rating in a research note on Thursday, April 24th. Finally, UBS Group reissued a "neutral" rating and issued a $305.00 price target on shares of CME Group in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, CME Group presently has an average rating of "Hold" and an average price target of $261.93.

CME Group Price Performance

Shares of CME stock opened at $281.35 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The firm's 50-day moving average is $276.05 and its two-hundred day moving average is $264.99. CME Group Inc. has a 12 month low of $200.50 and a 12 month high of $290.79. The company has a market capitalization of $101.39 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 5.05 and a beta of 0.44.

CME Group (NASDAQ:CME - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 EPS for the quarter, topping analysts' consensus estimates of $2.91 by $0.05. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm earned $2.56 earnings per share. CME Group's quarterly revenue was up 10.4% compared to the same quarter last year. Analysts predict that CME Group Inc. will post 10.49 earnings per share for the current year.

CME Group Company Profile

CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services.

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