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Dave Howson, the Executive Vice President and Global President of Cboe Global Markets, Inc. (BATS:NYSE:CBOE), recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Howson sold shares worth approximately $1.18 million. These transactions were executed on February 20, 2025, at prices ranging from $207.05 to $209.43 per share, close to the current trading price of $208.72. According to InvestingPro analysis, CBOE is currently trading near its Fair Value, with the company maintaining a GREAT financial health score of 3.09.
In addition to the stock sales, Howson also acquired shares through the exercise of stock options and other transactions. On February 19, 2025, he acquired shares valued at a total of $2,154,431, with each share priced at $210.25. This acquisition was part of a series of transactions that increased his holdings significantly.
Moreover, Howson disposed of shares worth $964,627 on the same day, also at $210.25 per share. These transactions were part of routine financial management activities, as indicated by the filing.
The sales were executed under a pre-arranged 10b5-1 trading plan, which allows executives to sell a predetermined number of shares at a set time, providing a way to manage their holdings without the risk of insider trading accusations. The company has demonstrated strong shareholder commitment, having maintained dividend payments for 16 consecutive years, with a current dividend yield of 1.23%.
In other recent news, CBOE Holdings has been the subject of multiple analyst reports following its latest earnings announcement. The company reported earnings per share that fell short of expectations, with an adjusted EPS of $2.10, missing the consensus estimate of $2.13. Despite this, several firms have adjusted their price targets and ratings for the company. BofA Securities increased its price target to $251 while maintaining a Buy rating, citing the integration of CBOE’s index options with Robinhood (NASDAQ:HOOD) as a positive development. RBC Capital Markets maintained a Sector Perform rating with a $220 target, focusing on the company’s anticipated mid-single-digit growth in its Data Vantage segment for fiscal year 2025. Meanwhile, Citi raised its price target to $220 but kept a Neutral rating, noting strong retail activity and volatility as positive indicators. Keefe, Bruyette & Woods also adjusted their price target slightly to $216, maintaining a Market Perform rating due to volume strength and revised expense guidance. William Blair reiterated a Market Perform rating, highlighting a slowdown in core derivatives revenue growth despite strong trading volumes in cash and spot markets.
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