Assenagon Asset Management S.A. Buys New Position in Miami International Holdings, Inc. $MIAX

Key Points

• Assenagon Asset Management acquired 297,832 shares of Miami International Holdings, valued at approximately $11.1 million and representing about 0.31% of the company. Other major institutions, including Vanguard, Alyeska, Invesco, Bank of America, and T. Rowe Price, also increased or initiated positions.
• Analyst sentiment remains mixed: Miami International has a consensus “Hold” rating and a $52 average price target, with targets ranging from $45 to $62. Morgan Stanley and Rosenblatt raised their targets, while Zacks Research and Wall Street Zen downgraded the stock to Hold.
• MIAX reported quarterly adjusted earnings of $0.48 per share, beating estimates of $0.41, while revenue rose 34.8% year over year to $387.6 million. The stock opened at $43.62, and insiders have sold 682,508 shares worth roughly $29.7 million over the past quarter.

Assenagon Asset Management S.A. purchased a new stake in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 297,832 shares of the company's stock, valued at approximately $11,067,000. Assenagon Asset Management S.A. owned about 0.31% of Miami International at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MIAX. Vanguard Group Inc. bought a new position in shares of Miami International during the 3rd quarter worth approximately $55,660,000. Alyeska Investment Group L.P. bought a new stake in Miami International during the third quarter worth $50,959,000. Invesco Ltd. boosted its position in Miami International by 178.8% in the fourth quarter. Invesco Ltd. now owns 1,278,966 shares of the company's stock worth $56,761,000 after purchasing an additional 820,246 shares during the last quarter. Bank of America Corp DE boosted its position in Miami International by 196.5% in the first quarter. Bank of America Corp DE now owns 900,882 shares of the company's stock worth $35,062,000 after purchasing an additional 597,021 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in Miami International by 24.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company's stock worth $134,282,000 after acquiring an additional 595,096 shares during the period.

Wall Street Analyst Weigh In

MIAX has been the topic of a number of research analyst reports. Zacks Research cut shares of Miami International from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Morgan Stanley increased their price target on Miami International from $50.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, July 10th. JPMorgan Chase & Co. boosted their price objective on Miami International from $41.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Wall Street Zen lowered shares of Miami International from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. Finally, Rosenblatt Securities increased their target price on Miami International from $61.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Miami International currently has a consensus rating of "Hold" and a consensus target price of $52.00.

Insider Buying and Selling at Miami International

In other news, EVP Harish Jayabalan sold 20,000 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $45.90, for a total transaction of $918,000.00. Following the transaction, the executive vice president directly owned 78,065 shares of the company's stock, valued at approximately $3,583,183.50. This trade represents a 20.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Edward Deitzel sold 11,000 shares of Miami International stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $45.78, for a total value of $503,580.00. Following the completion of the transaction, the executive vice president directly owned 119,601 shares in the company, valued at $5,475,333.78. This trade represents a 8.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 682,508 shares of company stock valued at $29,673,638. 15.60% of the stock is currently owned by insiders.

Miami International Stock Down 1.4%

MIAX opened at $43.62 on Tuesday. The stock has a market cap of $4.14 billion and a PE ratio of 56.65. The business's fifty day simple moving average is $41.50 and its 200 day simple moving average is $42.94. Miami International Holdings, Inc. has a 52 week low of $28.63 and a 52 week 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, 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 17.98%. The firm had revenue of $387.63 million during the quarter. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The company's revenue was up 34.8% compared to the same quarter last year. As a group, equities analysts anticipate that Miami International Holdings, Inc. will post 1.67 earnings per share 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source