Allspring Global Investments Holdings LLC Has $43.79 Million Holdings in Miami International Holdings, Inc. $MIAX

Key Points

• Allspring Global Investments increased its stake in Miami International Holdings by 19.3% in the first quarter, bringing its position to 1,112,261 shares valued at about $43.8 million.
• Miami International’s latest quarterly results beat expectations, with EPS of $0.42 versus $0.36 expected and revenue of $369.69 million, up 40% year over year.
• Analyst sentiment is mixed: the stock has a Hold consensus rating with an average price target of $51.80, while insiders have also been selling shares in recent months.

Allspring Global Investments Holdings LLC raised its holdings in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) by 19.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,112,261 shares of the company's stock after purchasing an additional 180,208 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.17% of Miami International worth $43,790,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State of Wyoming acquired a new position in Miami International in the 4th quarter valued at $26,000. National Bank of Canada FI acquired a new stake in Miami International during the third quarter worth about $29,000. Comerica Bank increased its holdings in Miami International by 295.6% in the 4th quarter. Comerica Bank now owns 1,254 shares of the company's stock valued at $56,000 after buying an additional 937 shares during the period. Fifth Third Bancorp bought a new position in Miami International in the 1st quarter valued at about $61,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Miami International in the 4th quarter valued at approximately $66,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MIAX. Zacks Research cut Miami International from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Morgan Stanley lifted their target price on Miami International from $50.00 to $53.00 and gave the company an "overweight" rating in a research report on Friday, July 10th. Rosenblatt Securities boosted their target price on Miami International from $59.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. increased their target price on shares of Miami International from $41.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Miami International from a "sell (d+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $51.80.

Miami International Price Performance

NYSE:MIAX opened at $42.18 on Friday. Miami International Holdings, Inc. has a one year low of $28.63 and a one year high of $57.14. The company has a market cap of $4.00 billion and a PE ratio of 43.94. The firm's 50 day simple moving average is $43.85 and its 200 day simple moving average is $42.86.

Miami International (NYSE:MIAX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $369.69 million during the quarter, compared to analyst estimates of $122.74 million. The company's revenue was up 40.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 earnings per share. Equities research analysts expect that Miami International Holdings, Inc. will post 1.58 EPS for the current year.

Insider Buying and Selling

In other Miami International news, CEO Thomas P. Gallagher sold 70,000 shares of the company'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 owned 1,723,275 shares in the company, valued at approximately $72,997,929. The trade was a 3.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Lance Emmons sold 35,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $56.36, for a total transaction of $1,972,600.00. Following the sale, the chief financial officer directly owned 84,262 shares of the company's stock, valued at $4,749,006.32. This represents a 29.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 720,854 shares of company stock valued at $31,679,840 over the last 90 days. 15.60% of the stock is owned by corporate insiders.

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.

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