Uncovering Institutional Buying In Cboe Global Markets Inc. (AMEX: CBOE)


The Vanguard Group, Inc. recently announced the acquisition of new stake in Cboe Global Markets Inc. (AMEX:CBOE). The institutional investor has increased its shareholding in the Financial company by 0.42% to 11.84 million shares with purchase of 49256.0 shares. This fresh investment now brings its stake to 10.79% valued currently at $1.04 billion. In addition, T. Rowe Price Associates, Inc. (I.. raised its holdings by 2.61 million to 9.66 million shares. And Janus Capital Management LLC has lifted its position by 12.95% or 0.32 million shares – to 2.77 million shares.

With over 1.07 million Cboe Global Markets Inc. (CBOE) shares trading Tuesday and a closing price of $90.60 on the day, the dollar volume was approximately $96.61 million. The shares have shown a positive weekly performance of 0.47% and its price on 08/25/20 lost nearly -2.25%. Currently, there are 108.76M common shares owned by the public and among those 107.80M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for CBOE have a consensus price objective of $98.20. The analysts have set the share’s price value over the next 12 months at a high of $115.00 and a low of $85.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Cboe Global Markets Inc. stock is 2.60 for the next 12 months. The average price target is 8.02% above its last price level and an upside to the estimated low will see the stock lose -6.59% over that period. But an upside of 21.22% will see the stock hit the forecast high price target while mean target price for the stock is $96.00.

Insiders at the company have transacted a total of 114 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 48 of these insider trades were purchases, accounting for 137,750 shares. Insider sales of the common stock occurred on 66 occasions, with total insider shares sold totaling 129,390 shares.

The top 3 mutual fund holders in Cboe Global Markets Inc. are Vanguard Total Stock Market Index, T Rowe Price Mid Cap Growth Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market Index owns 3.12 million shares of the company’s stock, all valued at over $273.49 million. The company sold 10184.0 shares recently to bring their total holdings to about 2.84% of the shares outstanding. T Rowe Price Mid Cap Growth Fund bought 0.47 million shares to see its total holdings expand to 2.75 million shares valued at over $241.18 million and representing 2.51% of the shares outstanding. Vanguard Mid Cap Index Fund sold 22181.0 shares to bring its total holdings to over 2.69 million shares at a value of $236.12 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.45% of the shares outstanding.

Shares of Cboe Global Markets Inc. (AMEX: CBOE) opened at $92.88, up $0.19 from a prior closing price of $92.69. However, the script later closed the day at $90.60, down -2.25%. The company’s stock has a 5-day price change of 0.47% and -11.75% over the past three months. CBOE shares are trading -24.50% year to date (YTD), with the 12-month market performance down to -24.94% lower. It has a 12-month low price of $72.01 and touched a high of $127.93 over the same period. Currently, 1.07 million shares have been traded, compared to an average intraday trading volume of 799.48K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.87%, -1.29%, and -13.56% respectively.

Institutional ownership of Cboe Global Markets Inc. (AMEX: CBOE) shares accounts for 85.96% of the company’s 108.76M shares outstanding. Mutual fund holders own 47.24%, while other institutional holders and individual stakeholders account for 7.04% and 2.22% respectively.

It has a market capitalization of $9.85B. The stock’s trailing 12-month PE ratio is 19.89, while the earnings-per-share (ttm) stands at $4.56. The company has a PEG of 8.19. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.63% over the week and 2.83% over the month.

Analysts forecast that Cboe Global Markets Inc. (CBOE) will achieve an EPS of $1.09 for the current quarter, $1.14 for the next quarter and $5 for 2021. The lowest estimate earnings-per-share for the quarter is $1.05 while analysts give the company a high EPS estimate of $1.18. Comparatively, EPS for the current quarter was $1.29 a year ago. Earnings per share for the fiscal year are expected to increase by 9.50%, and -3.50% over the next financial year. EPS should shrink at an annualized rate of 2.43% over the next five years, compared to 21.47% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Cboe Global Markets Inc. (CBOE) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 11 of the 17 advise that investors “hold,” and 1 rated it as a “Sell.”

Looking at the support for the CBOE, a number of firms have released research notes about the stock. Piper Sandler stated their Neutral rating for the stock in a research note on July 07, 2020, with the firm’s price target at $135-$97. Goldman coverage for the Cboe Global Markets Inc. (CBOE) stock in a research note released on June 23, 2020 offered a Sell rating with a price target of $88. JP Morgan was of a view on June 02, 2020 that the stock is Neutral, while Argus gave the stock Buy rating on May 06, 2020, issuing a price target of $115. Citigroup on their part issued Buy rating on April 03, 2020.


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