Herndon Capital Management Lowers stake in CBOE Holdings Inc (CBOE)

CBOE Holdings Inc (CBOE) : Herndon Capital Management reduced its stake in CBOE Holdings Inc by 15.12% during the most recent quarter end. The investment management company now holds a total of 2,320,631 shares of CBOE Holdings Inc which is valued at $147.6 Million after selling 413,322 shares in CBOE Holdings Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.CBOE Holdings Inc makes up approximately 3.83% of Herndon Capital Management’s portfolio.

Other Hedge Funds, Including , Dimensional Fund Advisors Lp reduced its stake in CBOE by selling 3,355 shares or 0.94% in the most recent quarter. The Hedge Fund company now holds 352,591 shares of CBOE which is valued at $22.4 Million. CBOE Holdings Inc makes up approx 0.01% of Dimensional Fund Advisors Lp’s portfolio. Columbia Wanger Asset Management added CBOE to its portfolio by purchasing 1,093,000 company shares during the most recent quarter which is valued at $69.5 Million. CBOE Holdings Inc makes up approx 0.74% of Columbia Wanger Asset Management’s portfolio.Teacher Retirement System Of Texas reduced its stake in CBOE by selling 11,226 shares or 52.55% in the most recent quarter. The Hedge Fund company now holds 10,135 shares of CBOE which is valued at $644,485. Massmutual Trust Co Fsbadv added CBOE to its portfolio by purchasing 27,057 company shares during the most recent quarter which is valued at $1.7 Million. CBOE Holdings Inc makes up approx 0.23% of Massmutual Trust Co Fsbadv’s portfolio.Neuberger Berman Group reduced its stake in CBOE by selling 294 shares or 0.09% in the most recent quarter. The Hedge Fund company now holds 314,156 shares of CBOE which is valued at $19.8 Million. CBOE Holdings Inc makes up approx 0.03% of Neuberger Berman Group’s portfolio.

CBOE Holdings Inc closed down -0.07 points or -0.11% at $64.18 with 3,46,905 shares getting traded on Wednesday. Post opening the session at $64.65, the shares hit an intraday low of $64.01 and an intraday high of $64.9 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, CBOE Holdings Inc reported $0.60 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 29, 2016. Analyst had a consensus of $0.62. The company had revenue of $162.33 million for the quarter, compared to analysts expectations of $165.71 million. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Investors should note that on May 19, 2016, CBOE Holdings Inc announced a cash dividend of $0.2300. The company’s management has announced Jun 1, 2016 as the ex-dividend date and fixed the record date on Jun 3, 2016. The payable date has been fixed on Jun 17, 2016.

Many Wall Street Analysts have commented on CBOE Holdings Inc. Sterne Agee CRT Initiated CBOE Holdings Inc on May 20, 2016 to “Underperform”, Price Target of the shares are set at $56.Shares were Reiterated by Barclays on May 2, 2016 to “Underweight” and Lowered the Price Target to $ 53 from a previous price target of $54 .Shares were Reiterated by RBC Capital Mkts on May 2, 2016 to “Outperform” and Lowered the Price Target to $ 78 from a previous price target of $82 .

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). The Company operates three stand-alone exchanges. CBOE is the Company’s options market and offers trading in listed options through a single system that integrates electronic trading and open outcry trading. The options contracts listed for trading include options on indexes equities and ETPs.

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