Canada Pension Plan Investment Board Acquires Shares of 44,500 Miami International Holdings, Inc. $MIAX

Key Points

• Canada Pension Plan Investment Board acquired 44,500 shares of Miami International Holdings, valued at approximately $1.65 million, during the second quarter.
• 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.
• Analysts maintain a consensus “Hold” rating with an average price target of $52.00, compared with the stock’s recent price of $42.81; insiders sold $26.1 million of shares during the last quarter.

Canada Pension Plan Investment Board bought a new stake in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 44,500 shares of the company's stock, valued at approximately $1,654,000.

Other hedge funds have also recently modified their holdings of the company. State of Wyoming purchased a new position in Miami International in the 4th quarter valued at about $26,000. National Bank of Canada FI purchased a new stake in Miami International during the 3rd quarter worth approximately $29,000. Comerica Bank raised its holdings in shares of Miami International by 295.6% during 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 acquired a new position in shares of Miami International during the fourth quarter valued at approximately $66,000. Finally, Fifth Third Bancorp purchased a new position in shares of Miami International in the first quarter valued at approximately $61,000.

Miami International Price Performance

Shares of Miami International stock opened at $42.81 on Tuesday. The stock has a market cap of $4.25 billion and a P/E ratio of 55.60. The stock's 50 day simple moving average is $42.38 and its 200-day simple moving average is $43.04. Miami International Holdings, Inc. has a 1-year low of $34.02 and a 1-year high of $57.14.

Miami International (NYSE:MIAX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.07. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The business had revenue of $387.63 million during the quarter. During the same quarter last year, the company earned $0.48 earnings per share. Miami International's revenue for the quarter was up 34.8% on a year-over-year basis. As a group, research analysts expect that Miami International Holdings, Inc. will post 1.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Miami International news, Director Kurt M. Eckert sold 1,063 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $45.80, for a total value of $48,685.40. Following the completion of the sale, the director directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Barbara J. Comly sold 44,445 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $45.69, for a total value of $2,030,692.05. Following the completion of the sale, the executive vice president directly owned 882,984 shares of the company's stock, valued at $40,343,538.96. This trade represents a 4.79% decrease in their ownership of the stock. 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. Insiders sold 615,958 shares of company stock worth $26,146,369 over the last quarter. Corporate insiders own 15.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Rosenblatt Securities lifted their price target on Miami International from $61.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased 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. Zacks Research lowered Miami International from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Wall Street Zen lowered shares of Miami International from a "buy" rating to a "hold" rating in a report on Sunday, August 23rd. Finally, Morgan Stanley increased their target price on shares of Miami International from $50.00 to $53.00 and gave the company an "overweight" rating in a research report on Friday, July 10th. 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, Miami International has an average rating of "Hold" and an average target price of $52.00.

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