Rosenblatt Securities Sticks to Its Sell Rating for CME Group (CME)

By Carrie Williams

In a report issued on September 13, Sean Horgan from Rosenblatt Securities maintained a Sell rating on CME Group (CMEResearch Report), with a price target of $138.00. The company’s shares closed last Tuesday at $168.10.

Currently, the analyst consensus on CME Group is a Hold with an average price target of $176.08, which is a 5.4% upside from current levels. In a report issued on September 11, Loop Capital Markets also initiated coverage with a Sell rating on the stock with a $138.00 price target.

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Based on CME Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.18 billion and net profit of $503 million. In comparison, last year the company earned revenue of $1.27 billion and had a net profit of $514 million.

Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CME in relation to earlier this year.

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CME Group, Inc. operates as a security and commodity exchange company. It provides the risk management and investment needs of customers around the globe. The company offers a wide range of products across various asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex electronic trading platform across the globe and its open outcry trading facilities in Chicago and New York City. The company also provides clearing and settlement services for exchange-traded contracts, as well as for cleared over-the-counter derivatives transactions. It also offers market data services-including live quotes, delayed quotes, market reports and a comprehensive historical data service and has expanded into the index services business through CME Group Index Services. CME Group was founded in 1898 and is headquartered in Chicago, IL.