KUALA LUMPUR (May 25): Bursa Malaysia Bhd said it has disposed of 50,000 shares of CME Group Inc (previously known as Chicago Mercantile Exchange Holdings Inc) Class A common stock for US$18.86 million (RM44.94 million).
The shares were sold in three transactions on March 8, May 13 and May 24 in the open market on the Nasdaq Stock Market, Bursa Malaysia said in a filling.
The proceeds of the sale, it said, will be used to fund its initiatives to ensure continuous development to the ecosystem and infrastructure of the exchange. The CME shares were initially acquired by Bursa Malaysia in 2009 as a result from a prior corporate exercise between Bursa Malaysia, CME Group Inc and CME Group Strategic Investment LLC, the bourse said.
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In a report released today, Owen Lau from Oppenheimer maintained a Hold rating on CME Group (CME – Research Report). The company’s shares closed last Wednesday at $201.26.
According to TipRanks.com, Lau is a 4-star analyst with an average return of 14.3% and a 84.8% success rate. Lau covers the Financial sector, focusing on stocks such as Intercontinental Exchange, Victory Capital Holdings, and Focus Financial Partners.
Currently, the analyst consensus on CME Group is a Moderate Buy with an average price target of $212.67.
CME Group’s market cap is currently $73.53B and has a P/E ratio of 34.90. The company has a Price to Book ratio of -11.27.