Allianz Asset Management GmbH Buys New Holdings in Miami International Holdings, Inc. $MIAX

Key Points

• Allianz Asset Management purchased 359,261 shares of Miami International Holdings in the second quarter, worth approximately $13.35 million and representing a 0.36% stake.
• Miami International exceeded quarterly EPS estimates, reporting $0.48 per share versus $0.41 expected, while revenue rose 34.8% year over year to $387.63 million.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $51.40 target price; insiders have sold roughly $31.9 million of shares over the past 90 days.

Allianz Asset Management GmbH bought a new position in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 359,261 shares of the company's stock, valued at approximately $13,350,000. Allianz Asset Management GmbH owned 0.36% of Miami International at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. State of Wyoming bought a new position in shares of Miami International during the 4th quarter worth about $26,000. National Bank of Canada FI bought a new stake in shares of Miami International in the 3rd quarter valued at approximately $29,000. Comerica Bank raised its holdings in shares of Miami International by 295.6% in the 4th 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 acquired a new position in shares of Miami International in the 1st quarter worth approximately $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Miami International during the 4th quarter worth approximately $66,000.

Miami International Trading Up 2.4%

MIAX opened at $43.41 on Wednesday. The stock has a market capitalization of $4.31 billion and a PE ratio of 56.38. Miami International Holdings, Inc. has a 1-year low of $35.43 and a 1-year high of $57.14. The firm has a 50-day moving average price of $43.05 and a two-hundred day moving average price of $43.09.

Miami International (NYSE:MIAX - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.07. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The company had revenue of $387.63 million for the quarter. During the same quarter in the previous year, the company posted $0.48 earnings per share. Miami International's revenue for the quarter was up 34.8% on a year-over-year basis. On average, research analysts predict that Miami International Holdings, Inc. will post 1.7 EPS for the current year.

Insider Buying and Selling at Miami International

In other news, EVP Barbara J. Comly sold 44,445 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was 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 owned 882,984 shares in the company, valued at $40,343,538.96. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 the company's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $41.22, for a total value of $1,978,560.00. Following the transaction, the executive vice president directly owned 387,414 shares in the company, valued at $15,969,205.08. This trade represents a 11.02% 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. In the last ninety days, insiders have sold 754,948 shares of company stock worth $31,899,121. Insiders own 15.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen lowered Miami International from a "buy" rating to a "hold" rating in a research note on Sunday, August 23rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Miami International in a research report on Friday, August 7th. Keefe, Bruyette & Woods lifted their price target on shares of Miami International from $46.00 to $48.00 and gave the company a "market perform" rating in a report on Friday, August 7th. Rosenblatt Securities upped their price objective on shares of Miami International from $61.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Morgan Stanley lowered shares of Miami International from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $53.00 to $50.00 in a report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $51.40.

About Miami International

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.

Want to see what other hedge funds are holding MIAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Miami International Holdings, Inc. (NYSE:MIAX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.