Banco Bilbao Vizcaya Argentaria S.A. has reduced its stake in Cboe Global Markets, Inc. by 2.4% during the second quarter of 2023. According to the latest 13F filing with the Securities and Exchange Commission, the bank sold 530 shares, bringing its total holdings to 21,374 shares valued at approximately $4.985 million as of the end of the reporting period.
In addition to Banco Bilbao’s adjustments, several other institutional investors have also modified their positions in Cboe Global Markets. Notably, Bank of Montreal Can increased its holdings by 19.1%, acquiring an additional 38,872 shares, resulting in a total of 241,995 shares valued at around $56.436 million. Meanwhile, HB Wealth Management LLC raised its stake by 30.7%, now holding 5,017 shares worth $1.135 million after purchasing 1,178 additional shares.
Promethium Advisors LLC also expanded its position in Cboe, increasing its holdings by 36.9% in the first quarter, resulting in a total of 10,696 shares valued at $2.42 million. Furthermore, CTC Alternative Strategies Ltd. initiated a new position valued at approximately $588,000 during the same quarter. Cidel Asset Management Inc. added to its existing stake by 2.7%, now owning 108,906 shares worth $25.398 million.
The institutional ownership of Cboe Global Markets is significant, with hedge funds and other institutional investors controlling 82.67% of the company’s stock.
Current Stock Performance and Analyst Ratings
As of Friday, shares of Cboe Global Markets opened at $258.35. The company boasts a market capitalization of $27.04 billion and a price-to-earnings ratio of 35.78. Its fifty-day simple moving average stands at $242.03, while the two-hundred-day simple moving average is $236.79. Over the past year, the stock has experienced a low of $187.30 and a high of $262.98.
Cboe Global Markets reported its quarterly earnings on October 31, 2023, revealing earnings per share of $2.67, surpassing analysts’ consensus estimates of $2.53 by $0.14. The company achieved a return on equity of 22.02% and a net margin of 18.64%. Comparing year-over-year results, Cboe’s quarterly revenue increased by 13.8%.
Analyst Recommendations and Future Outlook
Several analysts have provided insights regarding Cboe Global Markets’ stock. Oppenheimer set a price target of $265.00 while giving the stock an “outperform” rating. Piper Sandler maintained an “overweight” rating with a price objective of $290.00. Zacks Research improved its rating from “hold” to “strong-buy,” while Citigroup raised its target from $260.00 to $265.00 with a “neutral” rating.
Barclays also increased its price target for the stock from $264.00 to $273.00, assigning an “equal weight” rating. Overall, one investment analyst has issued a “Strong Buy” rating, three analysts have recommended a “Buy,” nine have given a “Hold,” and three have rated the stock as a “Sell.” According to MarketBeat.com, Cboe Global Markets currently holds an average rating of “Hold” with an average price target of $243.38.
Cboe Global Markets, Inc. is recognized as one of the largest operators of stock exchanges in the United States, playing a pivotal role in global trading across a variety of asset classes, including options, futures, and equities. As the company continues to adapt and grow, its performance will remain a focal point for investors and analysts alike.
