NewEdge Advisors LLC Makes New $1.52 Million Investment in Miami International Holdings, Inc. $MIAX

NewEdge Advisors LLC acquired a new position in shares of Miami International Holdings, Inc. (NYSE:MIAX) in the first quarter, HoldingsChannel reports. The institutional investor acquired 39,025 shares of the company’s stock, valued at approximately $1,519,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State of Wyoming bought a new position in shares of Miami International during the fourth quarter worth approximately $26,000. National Bank of Canada FI bought a new position in Miami International during the 3rd quarter worth $29,000. Comerica Bank lifted its holdings in shares of Miami International by 295.6% during the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after buying an additional 937 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Miami International in the first quarter valued at about $61,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Miami International in the fourth quarter valued at about $66,000.

Analysts Set New Price Targets

Several brokerages have weighed in on MIAX. Wall Street Zen upgraded shares of Miami International from a “hold” rating to a “buy” rating in a research note on Saturday. Rosenblatt Securities increased their target price on shares of Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods raised their target price on shares of Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, August 7th. Morgan Stanley lifted their price target on shares of Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. boosted their price target on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $52.00.

Miami International Price Performance

Shares of MIAX opened at $43.60 on Monday. Miami International Holdings, Inc. has a one year low of $28.99 and a one year high of $57.14. The company has a market cap of $4.33 billion and a P/E ratio of 56.62. The firm has a 50 day simple moving average of $41.73 and a two-hundred day simple moving average of $42.94.

Miami International (NYSE:MIAX) last released its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. The firm had revenue of $387.63 million during the quarter. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The firm’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 earnings per share. On average, analysts expect that Miami International Holdings, Inc. will post 1.69 earnings per share for the current fiscal year.

Insider Transactions at Miami International

In related news, CEO Thomas P. Gallagher sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $42.36, for a total value of $2,965,200.00. Following the sale, the chief executive officer directly owned 1,723,275 shares of the company’s stock, valued at $72,997,929. This trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of Miami International stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $42.84, for a total value of $2,056,320.00. Following the completion of the transaction, the executive vice president owned 396,681 shares in the company, valued at approximately $16,993,814.04. This represents a 10.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 647,508 shares of company stock valued at $27,701,038. Corporate insiders own 15.60% of the company’s stock.

Miami International Company Profile

Miami International (NYSE:MIAX) is a U.S. exchange holding company that operates electronic trading venues and provides market infrastructure for listed options and related products. Its primary business activities include operating regulated exchanges, delivering market data feeds, and offering trading technology and connectivity services designed for professional traders, broker-dealers, and market makers. The company focuses on low-latency execution, order matching, and the operational controls required to support high-volume, automated trading strategies in listed derivatives.

Products and services provided by Miami International include fully electronic order matching engines, transmittable market data and feed products, colocation and connectivity solutions, and tools for risk management and regulatory compliance.