Patton Fund Management Inc. Acquires New Holdings in Cboe Global Markets, Inc. (NASDAQ:CBOE)

Patton Fund Management Inc. acquired a new stake in Cboe Global Markets, Inc. (NASDAQ:CBOE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 20,324 shares of the company's stock, valued at approximately $4,599,000. Cboe Global Markets comprises about 1.1% of Patton Fund Management Inc.'s investment portfolio, making the stock its 29th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of CBOE. Alliancebernstein L.P. increased its stake in Cboe Global Markets by 208.4% in the fourth quarter. Alliancebernstein L.P. now owns 7,685,489 shares of the company's stock valued at $1,501,745,000 after purchasing an additional 5,193,339 shares during the last quarter. Norges Bank acquired a new position in shares of Cboe Global Markets in the 4th quarter valued at $269,524,000. GAMMA Investing LLC grew its position in shares of Cboe Global Markets by 29,094.5% in the 1st quarter. GAMMA Investing LLC now owns 1,216,535 shares of the company's stock valued at $275,290,000 after buying an additional 1,212,368 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Cboe Global Markets in the 4th quarter valued at $59,206,000. Finally, First Trust Advisors LP raised its stake in Cboe Global Markets by 756.0% during the 4th quarter. First Trust Advisors LP now owns 298,450 shares of the company's stock worth $58,317,000 after acquiring an additional 263,585 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cboe Global Markets

In related news, EVP Catherine R. Clay sold 3,598 shares of the business'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 sale, the executive vice president now owns 2,183 shares of the company's stock, valued at approximately $494,624.14. The trade was a 62.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by corporate insiders.

Cboe Global Markets Stock Performance

NASDAQ:CBOE traded up $2.19 during midday trading on Wednesday, reaching $227.60. The stock had a trading volume of 609,052 shares, compared to its average volume of 879,321. 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 stock has a market cap of $23.83 billion, a P/E ratio of 31.52, a P/E/G ratio of 1.75 and a beta of 0.43. The firm has a fifty day simple moving average of $222.72 and a two-hundred day simple moving average of $211.68. Cboe Global Markets, Inc. has a 12-month low of $166.88 and a 12-month high of $236.02.

Cboe Global Markets (NASDAQ:CBOE - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.14. Cboe Global Markets had a net margin of 18.64% and a return on equity of 22.02%. The company's revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the business earned $2.15 EPS. On average, equities analysts expect that Cboe Global Markets, Inc. will post 8.96 EPS for the current year.

Cboe Global Markets Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Friday, May 30th. Cboe Global Markets's payout ratio is 33.03%.

Analyst Ratings Changes

Several research firms have issued reports on CBOE. Bank of America restated a "neutral" rating and issued a $227.00 price objective (down previously from $260.00) on shares of Cboe Global Markets in a research note on Thursday, April 10th. Barclays upped their target price on Cboe Global Markets from $232.00 to $245.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Piper Sandler raised their price target on Cboe Global Markets from $234.00 to $245.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Cowen reiterated a "hold" rating on shares of Cboe Global Markets in a research note on Monday, May 5th. Finally, Morgan Stanley downgraded Cboe Global Markets from an "overweight" rating to an "underweight" rating and decreased their price objective for the company from $256.00 to $215.00 in a report on Wednesday, May 14th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $219.64.

Cboe Global Markets Company Profile

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.