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

Patton Fund Management Inc. purchased a new stake in shares of Cboe Global Markets, Inc. (NASDAQ:CBOE) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,324 shares of the company’s stock, valued at approximately $4,599,000. Cboe Global Markets makes up about 1.1% of Patton Fund Management Inc.’s portfolio, making the stock its 29th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of Cboe Global Markets during the first quarter valued at approximately $27,000. Greenline Partners LLC purchased a new position in Cboe Global Markets during the fourth quarter valued at approximately $29,000. Lee Danner & Bass Inc. purchased a new position in Cboe Global Markets during the fourth quarter valued at approximately $29,000. Kestra Investment Management LLC purchased a new position in Cboe Global Markets during the fourth quarter valued at approximately $31,000. Finally, Generali Asset Management SPA SGR purchased a new position in Cboe Global Markets in the fourth quarter worth $37,000. Institutional investors own 82.67% of the company’s stock.

Analyst Upgrades and Downgrades

CBOE has been the topic of several analyst reports. Barclays lifted their price target on shares of Cboe Global Markets from $232.00 to $245.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Piper Sandler boosted their target price on shares of Cboe Global Markets from $234.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Bank of America reiterated a “neutral” rating and issued a $227.00 price objective (down previously from $260.00) on shares of Cboe Global Markets in a research report on Thursday, April 10th. Wall Street Zen upgraded shares of Cboe Global Markets from a “sell” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Morgan Stanley downgraded shares of Cboe Global Markets from an “overweight” rating to an “underweight” rating and decreased their price objective for the stock from $256.00 to $215.00 in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $219.64.

Insider Buying and Selling at Cboe Global Markets

In related news, EVP Catherine R. Clay sold 3,598 shares of the 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 completion of the transaction, the executive vice president now directly owns 2,183 shares of the company’s stock, valued at $494,624.14. This represents a 62.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.22% of the stock is owned by company insiders.

Cboe Global Markets Trading Down 0.6%

NASDAQ CBOE opened at $224.49 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.78 and a quick ratio of 1.39. The firm’s fifty day moving average price is $221.89 and its 200 day moving average price is $211.48. The company has a market capitalization of $23.51 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 1.75 and a beta of 0.43. Cboe Global Markets, Inc. has a 12 month low of $166.13 and a 12 month high of $236.02.

Cboe Global Markets (NASDAQ:CBOE) last posted its earnings results on Friday, May 2nd. The company reported $2.50 EPS for the quarter, beating 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%. Cboe Global Markets’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.15 EPS. On average, sell-side analysts expect that Cboe Global Markets, Inc. will post 8.96 earnings per share for the current fiscal year.

Cboe Global Markets Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Friday, May 30th. Cboe Global Markets’s dividend payout ratio (DPR) is 33.03%.

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.