138,903 Shares in Miami International Holdings, Inc. $MIAX Acquired by Sone Capital Management LLC

Key Points

• Sone Capital Management acquired 138,903 shares of Miami International Holdings in the second quarter, worth approximately $5.16 million and representing a 0.14% stake.
• Company insiders have been selling shares under pre-arranged Rule 10b5-1 plans: the CEO sold $6.16 million worth and an EVP sold $2.03 million worth. Insiders sold $33.86 million in stock over the past 90 days.
• MIAX beat quarterly earnings expectations with EPS of $0.48 versus $0.41 expected, while revenue rose 34.8% year over year to $387.63 million. Analysts maintain a consensus “Hold” rating with an average price target of $52.

Sone Capital Management LLC purchased a new stake in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 138,903 shares of the company's stock, valued at approximately $5,162,000. Sone Capital Management LLC owned 0.14% of Miami International at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State of Wyoming purchased a new stake in shares of Miami International in the fourth quarter worth $26,000. National Bank of Canada FI bought a new stake in Miami International during the third quarter valued at $29,000. Comerica Bank grew its position in 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 purchased a new position in Miami International during the first quarter worth about $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Miami International in the 4th quarter worth about $66,000.

Insiders Place Their Bets

In other news, CEO Thomas P. Gallagher sold 149,700 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $41.13, for a total value of $6,157,161.00. Following the completion of the sale, the chief executive officer directly owned 1,423,275 shares in the company, valued at approximately $58,539,300.75. The trade was a 9.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Barbara J. Comly sold 44,445 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $45.69, for a total transaction of $2,030,692.05. Following the completion of the sale, the executive vice president directly owned 882,984 shares of the company's stock, valued at $40,343,538.96. This trade represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 797,208 shares of company stock valued at $33,858,199. 15.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MIAX has been the subject of a number of research analyst reports. Rosenblatt Securities lifted their price target on Miami International from $61.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings restated a "hold (c)" rating on shares of Miami International in a research report on Friday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Miami International from $41.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Zacks Research cut shares of Miami International from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Finally, Keefe, Bruyette & Woods increased their price target 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. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $52.00.

Miami International Trading Up 3.3%

MIAX opened at $43.98 on Tuesday. The stock has a market capitalization of $4.36 billion and a P/E ratio of 57.12. The stock has a 50-day moving average price of $41.83 and a 200-day moving average price of $42.97. Miami International Holdings, Inc. has a 12-month low of $32.19 and a 12-month high of $57.14.

Miami International (NYSE:MIAX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.07. The company had revenue of $387.63 million for the quarter. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The business's quarterly revenue was up 34.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 earnings per share. On average, equities research analysts predict that Miami International Holdings, Inc. will post 1.69 EPS for the current year.

Miami International 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.

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