Pinnacle Associates Ltd. Invests $352,000 in CBOE Holdings, Inc. (CBOE)
Pinnacle Associates Ltd. bought a new position in shares of CBOE Holdings, Inc. (NASDAQ:CBOE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,852 shares of the financial services provider’s stock, valued at approximately $352,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strs Ohio bought a new stake in shares of CBOE Holdings during the second quarter worth $120,000. Bronfman E.L. Rothschild L.P. grew its stake in shares of CBOE Holdings by 1.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,346 shares of the financial services provider’s stock worth $123,000 after buying an additional 20 shares during the last quarter. Huntington National Bank bought a new stake in shares of CBOE Holdings during the second quarter worth $182,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of CBOE Holdings during the second quarter worth $183,000. Finally, Royce & Associates LP bought a new stake in shares of CBOE Holdings during the first quarter worth $180,000. 82.49% of the stock is currently owned by hedge funds and other institutional investors.
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CBOE has been the topic of a number of research reports. BidaskClub raised shares of CBOE Holdings from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Deutsche Bank AG boosted their target price on shares of CBOE Holdings from $76.00 to $79.00 and gave the stock a “hold” rating in a research note on Tuesday, July 4th. Citigroup Inc. initiated coverage on shares of CBOE Holdings in a research note on Wednesday, July 12th. They set a “neutral” rating and a $93.00 target price on the stock. Zacks Investment Research cut shares of CBOE Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $100.00 target price (up previously from $90.00) on shares of CBOE Holdings in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $80.09.
In other CBOE Holdings news, Director Carole E. Stone sold 1,520 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $97.14, for a total value of $147,652.80. Following the sale, the director now owns 14,241 shares of the company’s stock, valued at approximately $1,383,370.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Christopher A. Isaacson sold 7,020 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $100.61, for a total transaction of $706,282.20. Following the completion of the sale, the vice president now directly owns 97,897 shares in the company, valued at approximately $9,849,417.17. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 216,556 shares of company stock worth $21,106,308. 1.86% of the stock is owned by insiders.
CBOE Holdings, Inc. (NASDAQ:CBOE) opened at 104.74 on Friday. The company has a 50-day moving average of $97.44 and a 200 day moving average of $87.84. The firm has a market cap of $11.81 billion, a price-to-earnings ratio of 57.27 and a beta of 0.49. CBOE Holdings, Inc. has a 12-month low of $61.58 and a 12-month high of $105.91.
CBOE Holdings (NASDAQ:CBOE) last released its earnings results on Friday, August 4th. The financial services provider reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.01. CBOE Holdings had a net margin of 17.81% and a return on equity of 17.45%. The company had revenue of $266.90 million for the quarter, compared to analyst estimates of $266.22 million. During the same quarter last year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up 85.2% compared to the same quarter last year. Equities analysts expect that CBOE Holdings, Inc. will post $3.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.08 annualized dividend and a dividend yield of 1.03%. This is a positive change from CBOE Holdings’s previous quarterly dividend of $0.25. CBOE Holdings’s dividend payout ratio (DPR) is currently 59.67%.
CBOE Holdings Profile
CBOE Holdings, Inc is a holding company. The Company’s principal business is operating markets that offer for trading options on various market indexes (index options), on an exclusive basis, and futures contracts, as well as on non-exclusive multiply listed options, such as options on the stocks of individual corporations (equity options), and options on other exchange-traded products (ETP options), such as exchange-traded funds (ETF options) and exchange-traded notes (ETN options).
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