Mad River Investors Sells 65 Shares of CME Group Inc. (NASDAQ:CME)

Mad River Investors reduced its holdings in shares of CME Group Inc. (NASDAQ:CME) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,129 shares of the financial services provider’s stock after selling 65 shares during the quarter. CME Group makes up approximately 0.7% of Mad River Investors’ holdings, making the stock its 20th biggest position. Mad River Investors’ holdings in CME Group were worth $1,008,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Gold Investment Management Ltd. acquired a new stake in shares of CME Group in the 4th quarter valued at approximately $26,000. Northwest Financial Advisors acquired a new stake in CME Group during the 4th quarter valued at $28,000. Salomon & Ludwin LLC acquired a new stake in CME Group during the 1st quarter valued at $28,000. McClarren Financial Advisors Inc. lifted its holdings in CME Group by 66.1% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 78 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in CME Group during the 1st quarter valued at $41,000. 87.75% of the stock is owned by institutional investors.

CME Group Price Performance

CME Group stock traded up $2.42 during midday trading on Thursday, reaching $218.42. The company’s stock had a trading volume of 551,119 shares, compared to its average volume of 1,921,299. CME Group Inc. has a 52 week low of $190.70 and a 52 week high of $223.80. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $202.56 and a 200-day moving average price of $207.47. The stock has a market cap of $78.65 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 6.51 and a beta of 0.52.

CME Group (NASDAQ:CME) last released its earnings results on Wednesday, July 24th. The financial services provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.03. CME Group had a return on equity of 12.82% and a net margin of 56.98%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the business posted $2.30 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, sell-side analysts predict that CME Group Inc. will post 9.89 EPS for the current year.

CME Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, September 9th. CME Group’s payout ratio is 52.33%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CME. Bank of America downgraded CME Group from a “neutral” rating to an “underperform” rating and cut their price target for the company from $212.00 to $177.00 in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on CME Group from $187.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective on CME Group from $193.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Piper Sandler reiterated an “overweight” rating and set a $225.00 price objective on shares of CME Group in a research report on Tuesday, August 20th. Finally, Keefe, Bruyette & Woods increased their price objective on CME Group from $212.00 to $213.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $209.73.

Insider Activity

In other news, Director Bryan T. Durkin sold 7,593 shares of CME Group stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $214.59, for a total transaction of $1,629,381.87. Following the sale, the director now directly owns 55,607 shares of the company’s stock, valued at $11,932,706.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Charles P. Carey sold 3,000 shares of CME Group stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $195.44, for a total transaction of $586,320.00. Following the sale, the director now directly owns 7,163 shares of the company’s stock, valued at $1,399,936.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bryan T. Durkin sold 7,593 shares of CME Group stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $214.59, for a total value of $1,629,381.87. Following the completion of the transaction, the director now directly owns 55,607 shares in the company, valued at $11,932,706.13. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

About CME Group

CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services.