Banco Bilbao Vizcaya Argentaria S.A. (BBVA) has decreased its stake in Cboe Global Markets, Inc. (NASDAQ:CBOE) by 2.4% during the second quarter of 2023. According to its latest 13F filing with the Securities and Exchange Commission, BBVA sold 530 shares, bringing its total holdings to 21,374 shares, valued at approximately $4.985 million at the end of the reporting period.
Several hedge funds have also adjusted their investments in Cboe Global Markets. Bank of Montreal Can increased its position by 19.1%, acquiring an additional 38,872 shares to reach a total of 241,995 shares, valued at $56.436 million. Similarly, HB Wealth Management LLC raised its stake by 30.7%, now owning 5,017 shares worth $1.135 million after purchasing an extra 1,178 shares in the last quarter.
Promethium Advisors LLC also expanded its holdings by 36.9%, acquiring 2,884 additional shares to hold a total of 10,696 shares valued at $2.42 million. CTC Alternative Strategies Ltd. established a new position worth around $588,000 during the first quarter. Lastly, Cidel Asset Management Inc. boosted its stake by 2.7%, now owning 108,906 shares valued at $25.398 million after purchasing an additional 2,854 shares.
Hedge funds and other institutional investors currently control 82.67% of Cboe Global Markets’ stock.
Cboe Global Markets Performance and Earnings Report
On October 31, 2023, Cboe Global Markets reported its quarterly earnings, revealing earnings per share (EPS) of $2.67, surpassing analysts’ estimates of $2.53 by $0.14. The company’s return on equity stood at 22.02%, with a net margin of 18.64%. This marks an increase from the $2.22 EPS reported during the same quarter the previous year, with quarterly revenue rising by 13.8% year-over-year.
As of the latest trading session, Cboe Global Markets shares opened at $258.35, with a market capitalization of $27.04 billion. The company has a price-to-earnings ratio of 35.78, a price-to-earnings growth ratio of 1.75, and a beta of 0.42. Its fifty-day simple moving average stands at $242.03, while the two-hundred-day average is $236.79. Cboe’s shares have fluctuated between a 12-month low of $187.30 and a 12-month high of $262.98.
Analysts’ Perspectives on Cboe Global Markets
Market analysts have recently provided various ratings and price targets for Cboe Global Markets. Oppenheimer established a price target of $265.00 and rated the stock as “outperform.” Piper Sandler reiterated an “overweight” rating with a price objective of $290.00. Zacks Research upgraded the stock from “hold” to “strong-buy.” Citigroup has increased its price target from $260.00 to $265.00, assigning a “neutral” rating, while Barclays raised its target from $264.00 to $273.00 with an “equal weight” rating.
Currently, one analyst rates Cboe Global Markets as a “strong buy,” three as “buy,” nine as “hold,” and three as “sell.” According to MarketBeat.com, the stock holds an average rating of “hold” with an average price target of $243.38.
Cboe Global Markets, Inc. remains a significant player in the global financial markets, offering trading across a diverse range of products including options, futures, equities, and exchange-traded products (ETPs). The company’s performance and strategic moves by institutional investors will continue to shape its trajectory in the coming months.
