Capelight Capital Asset Management LP Makes New Investment in Miami International Holdings, Inc. $MIAX

Key Points

• Capelight Capital bought a new position of 63,000 shares (~$2.80M) in Miami International (MIAX) in Q4, making the stock about 2.3% of Capelight's portfolio and its 12th largest holding; Capelight owned 0.08% of MIAX at quarter-end.
• Miami International reported an EPS beat ($0.52 vs. $0.41) and revenue of $369.43M (up 14% YoY); the stock trades near $42.86 with a $3.93B market cap and a consensus analyst rating of "Hold" (average price target $47.60, with 4 Buy / 4 Hold / 1 Sell).
• Insider selling has been notable—directors recently sold shares and insiders disposed of 267,629 shares worth about $10.8M in the last 90 days.

Capelight Capital Asset Management LP bought a new position in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 63,000 shares of the company's stock, valued at approximately $2,796,000. Miami International makes up about 2.3% of Capelight Capital Asset Management LP's investment portfolio, making the stock its 12th largest holding. Capelight Capital Asset Management LP owned 0.08% of Miami International at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in Miami International in the 3rd quarter worth about $17,684,000. Coastal Bridge Advisors LLC acquired a new position in Miami International in the 3rd quarter worth about $3,083,000. Victory Capital Management Inc. acquired a new position in Miami International in the 3rd quarter worth about $12,168,000. Federated Hermes Inc. acquired a new position in Miami International in the 3rd quarter worth about $10,065,000. Finally, Pekin Hardy Strauss Inc. acquired a new position in Miami International in the 3rd quarter worth about $1,033,000.

Analyst Ratings Changes

A number of brokerages have issued reports on MIAX. Wall Street Zen cut Miami International from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Zacks Research downgraded Miami International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 1st. Morgan Stanley raised their price objective on Miami International from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, April 10th. Keefe, Bruyette & Woods initiated coverage on Miami International in a research report on Wednesday, April 8th. They set a "market perform" rating and a $40.00 price objective for the company. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Miami International in a research report on Friday, March 27th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $47.60.

Miami International Price Performance

NYSE MIAX opened at $42.86 on Wednesday. The stock has a market capitalization of $3.93 billion and a P/E ratio of 79.37. The business has a 50 day simple moving average of $40.56 and a 200 day simple moving average of $42.85. Miami International Holdings, Inc. has a one year low of $28.63 and a one year high of $51.38.

Miami International (NYSE:MIAX - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.11. The business had revenue of $369.43 million during the quarter, compared to the consensus estimate of $121.13 million. The company's quarterly revenue was up 14.0% compared to the same quarter last year.

Insiders Place Their Bets

In other Miami International news, Director Kurt M. Eckert sold 37,917 shares of Miami International stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $39.00, for a total value of $1,478,763.00. Following the completion of the sale, the director directly owned 142,375 shares in the company, valued at approximately $5,552,625. The trade was a 21.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Judson Gray Teekell sold 2,700 shares of Miami International stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $40.00, for a total value of $108,000.00. Following the completion of the sale, the director owned 59,338 shares of the company's stock, valued at approximately $2,373,520. The trade was a 4.35% 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. Insiders sold a total of 267,629 shares of company stock valued at $10,812,697 in the last 90 days.

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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