Lord Abbett & CO. LLC Purchases 105,211 Shares of Cboe Global Markets, Inc. (NASDAQ:CBOE)

Key Points

• Lord Abbett & CO. LLC increased its holdings in Cboe Global Markets by 29.5% during the first quarter, now owning 461,316 shares valued at approximately $104.39 million.
• Cboe Global Markets recently reported earnings of $2.46 EPS, exceeding analyst expectations, with a 14.3% year-over-year revenue growth.
• Analysts have suggested a range of price targets for Cboe Global Markets, with Barclays setting a target of $256.00, reflecting a positive outlook for the stock.

Lord Abbett & CO. LLC raised its stake in Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) by 29.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 461,316 shares of the company's stock after buying an additional 105,211 shares during the quarter. Lord Abbett & CO. LLC owned 0.44% of Cboe Global Markets worth $104,391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Clearstead Trust LLC bought a new position in shares of Cboe Global Markets during the 1st quarter valued at about $26,000. NBC Securities Inc. acquired a new stake in Cboe Global Markets during the 1st quarter worth approximately $27,000. Greenline Partners LLC acquired a new stake in Cboe Global Markets during the 4th quarter worth approximately $29,000. Hughes Financial Services LLC bought a new position in Cboe Global Markets in the first quarter valued at approximately $29,000. Finally, Cornerstone Planning Group LLC lifted its stake in Cboe Global Markets by 4,633.3% in the first quarter. Cornerstone Planning Group LLC now owns 142 shares of the company's stock valued at $30,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 82.67% of the company's stock.

Cboe Global Markets Stock Performance

Shares of NASDAQ CBOE traded up $3.92 during midday trading on Friday, hitting $247.63. 740,424 shares of the company's stock were exchanged, compared to its average volume of 874,303. The company has a quick ratio of 1.39, a current ratio of 1.78 and a debt-to-equity ratio of 0.34. Cboe Global Markets, Inc. has a 12 month low of $187.30 and a 12 month high of $255.27. The company's 50 day moving average price is $236.28 and its 200 day moving average price is $223.57. The firm has a market capitalization of $25.90 billion, a PE ratio of 34.30, a price-to-earnings-growth ratio of 1.75 and a beta of 0.46.

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

Cboe Global Markets Increases Dividend

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

Insider Activity at Cboe Global Markets

In other news, EVP Catherine R. Clay sold 3,598 shares of the business's stock in a transaction on Friday, May 23rd. The stock was 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 owned 2,183 shares of the company's stock, valued at approximately $494,624.14. The trade was a 62.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.22% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CBOE. Morgan Stanley set a $218.00 price target on shares of Cboe Global Markets and gave the company an "underweight" rating in a research note on Tuesday, July 15th. Piper Sandler lifted their target price on Cboe Global Markets from $250.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Citigroup lifted their target price on Cboe Global Markets from $230.00 to $245.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Oppenheimer set a $265.00 target price on Cboe Global Markets and gave the company an "outperform" rating in a research report on Monday, August 4th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $254.00 target price on shares of Cboe Global Markets in a research report on Monday, August 4th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus 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.