BlueCrest Capital Management Ltd Acquires Shares of 200,000 Miami International Holdings, Inc. $MIAX

Key Points

• BlueCrest Capital Management acquired 200,000 Miami International Holdings shares worth approximately $7.4 million, representing about 0.20% of the company.
• Miami International reported quarterly EPS of $0.48, beating estimates by $0.07, while revenue rose 34.8% year over year to $387.63 million.
• The stock was trading near $42.89, while analysts maintained a mostly “Hold” stance with a consensus price target of $51.40; insiders sold more than 735,000 shares during the quarter.

BlueCrest Capital Management Ltd bought a new position in shares of Miami International Holdings, Inc. (NYSE:MIAX - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 200,000 shares of the company's stock, valued at approximately $7,432,000. BlueCrest Capital Management Ltd owned approximately 0.20% of Miami International at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. State of Wyoming acquired a new stake in shares of Miami International in the fourth quarter valued at approximately $26,000. National Bank of Canada FI acquired a new position in shares of Miami International during the third quarter valued at $29,000. Comerica Bank boosted its holdings in Miami International by 295.6% in the fourth quarter. Comerica Bank now owns 1,254 shares of the company's stock valued at $56,000 after acquiring an additional 937 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Miami International during the 4th quarter worth about $66,000. Finally, Fifth Third Bancorp acquired a new position in Miami International during the 1st quarter valued at about $61,000.

Miami International Stock Down 1.3%

Miami International stock opened at $42.89 on Thursday. The company has a 50 day moving average of $43.13 and a 200-day moving average of $43.10. Miami International Holdings, Inc. has a twelve month low of $35.43 and a twelve month high of $57.14. The stock has a market capitalization of $4.26 billion and a PE ratio of 55.70.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of Miami International from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Keefe, Bruyette & Woods raised their price target on Miami International from $46.00 to $48.00 and gave the stock a "market perform" rating in a research report on Friday, August 7th. Morgan Stanley downgraded Miami International from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $53.00 to $50.00 in a report on Tuesday, September 1st. Weiss Ratings restated a "hold (c)" rating on shares of Miami International in a report on Friday, August 7th. Finally, Wall Street Zen cut Miami International from a "buy" rating to a "hold" rating in a research note on Sunday, August 23rd. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Miami International has an average rating of "Hold" and a consensus target price of $51.40.

Insider Buying and Selling

In other news, EVP Douglas Schafer, Jr. sold 48,000 shares of the company's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $40.48, for a total transaction of $1,943,040.00. Following the completion of the transaction, the executive vice president directly owned 387,414 shares of the company's stock, valued at $15,682,518.72. This represents a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Barbara Comly sold 44,445 shares of Miami International stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $40.49, for a total value of $1,799,578.05. Following the completion of the sale, the executive vice president directly owned 839,564 shares in the company, valued at approximately $33,993,946.36. This represents a 5.03% 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 quarter, insiders sold 735,448 shares of company stock valued at $31,085,386. Corporate insiders own 15.60% of the company's stock.

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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