Caldwell Investment Management Ltd. Makes New $22.28 Million Investment in Miami International Holdings, Inc. $MIAX

Key Points

• Caldwell Investment Management initiated a $22.28 million position in Miami International Holdings, purchasing 600,000 shares. The investment represents 14.6% of Caldwell’s portfolio and approximately 0.63% of MIAX’s outstanding stock.
• Miami International reported quarterly EPS of $0.48, beating estimates of $0.41, while revenue rose 34.8% year over year to $387.63 million. The stock opened at $42.58, with a consensus analyst rating of “Hold” and an average price target of $52.
• Insiders sold approximately $33.86 million of MIAX shares over the past 90 days, including a $6.16 million sale by CEO Thomas P. Gallagher under a pre-arranged Rule 10b5-1 plan to cover tax obligations.

Caldwell Investment Management Ltd. bought a new stake in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 600,000 shares of the company's stock, valued at approximately $22,279,000. Miami International comprises 14.6% of Caldwell Investment Management Ltd.'s portfolio, making the stock its 2nd biggest position. Caldwell Investment Management Ltd. owned approximately 0.63% of Miami International as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. State of Wyoming bought a new stake in Miami International in the 4th quarter valued at $26,000. National Bank of Canada FI bought a new position in Miami International during the third quarter worth $29,000. Comerica Bank increased its holdings in shares of 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 purchasing an additional 937 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Miami International in the fourth quarter valued at $66,000. Finally, Fifth Third Bancorp bought a new position in shares of Miami International in the first quarter valued at about $61,000.

Miami International Stock Performance

Miami International stock opened at $42.58 on Friday. The stock has a market capitalization of $4.23 billion and a P/E ratio of 55.30. Miami International Holdings, Inc. has a 52 week low of $32.19 and a 52 week high of $57.14. The stock has a fifty day moving average of $41.83 and a 200-day moving average of $42.94.

Miami International (NYSE:MIAX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.07. The firm 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 revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 earnings per share. On average, research analysts forecast that Miami International Holdings, Inc. will post 1.69 earnings per share for the current year.

Insider Activity at Miami International

In other news, Director Kurt M. Eckert sold 1,063 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $45.80, for a total transaction of $48,685.40. Following the completion of the sale, the director owned 149,612 shares of the company's stock, valued at $6,852,229.60. This trade represents a 0.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 149,700 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $41.13, for a total transaction of $6,157,161.00. Following the completion of the sale, the chief executive officer owned 1,423,275 shares of the company's stock, valued at $58,539,300.75. The trade was a 9.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 797,208 shares of company stock valued at $33,858,199 over the last 90 days. 15.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on MIAX shares. Wall Street Zen upgraded shares of Miami International from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Keefe, Bruyette & Woods upped their target price on Miami International from $46.00 to $48.00 and gave the company a "market perform" rating in a research report on Friday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Miami International in a research note on Friday, August 7th. JPMorgan Chase & Co. lifted their price target on Miami International from $41.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Finally, Morgan Stanley boosted their price target on Miami International from $50.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $52.00.

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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