Element Capital Management LLC Takes Position in Miami International Holdings, Inc. $MIAX

Key Points

• Element Capital Management initiated a new position in Miami International Holdings, buying 27,855 shares worth about $1.24 million in the fourth quarter.
• Several other institutional investors also added to or started positions in MIAX, while insiders have been active sellers recently, including two directors who sold shares under pre-arranged trading plans.
• Miami International shares were down 5.9% and last traded at $37.86, even after the company reported quarterly earnings and revenue that beat estimates; analysts currently rate the stock Moderate Buy with a consensus target price of $51.20.

Element Capital Management LLC purchased a new position in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,855 shares of the company's stock, valued at approximately $1,236,000.

Several other institutional investors and hedge funds have also bought and sold shares of MIAX. State of Wyoming acquired a new stake in Miami International during the fourth quarter worth about $26,000. National Bank of Canada FI bought a new stake in Miami International during the third quarter worth $29,000. Comerica Bank boosted its holdings in shares of Miami International by 295.6% in the 4th quarter. Comerica Bank now owns 1,254 shares of the company's stock valued at $56,000 after purchasing an additional 937 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Miami International in the 4th quarter valued at $77,000. Finally, SG Americas Securities LLC bought a new stake in shares of Miami International during the 4th quarter worth $105,000.

Insiders Place Their Bets

In other news, Director Judson Gray Teekell sold 3,000 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $42.78, for a total transaction of $128,340.00. Following the transaction, the director owned 71,014 shares in the company, valued at approximately $3,037,978.92. This represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kurt M. Eckert sold 5,250 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $42.76, for a total value of $224,490.00. Following the transaction, the director directly owned 142,375 shares in the company, valued at approximately $6,087,955. This trade represents a 3.56% 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 735,954 shares of company stock valued at $32,635,636 in the last 90 days. Company insiders own 15.60% of the company's stock.

Miami International Stock Down 5.9%

Shares of NYSE MIAX opened at $37.86 on Thursday. The company has a market capitalization of $3.59 billion and a PE ratio of 39.44. The firm has a fifty day simple moving average of $46.26 and a 200 day simple moving average of $43.63. Miami International Holdings, Inc. has a twelve month low of $28.63 and a twelve month high of $57.14.

Miami International (NYSE:MIAX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $369.69 million during the quarter, compared to the consensus estimate of $122.74 million. The business's revenue was up 40.0% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share. As a group, equities analysts expect that Miami International Holdings, Inc. will post 1.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MIAX has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Miami International from $40.00 to $48.00 and gave the company a "market perform" rating in a research note on Friday, May 8th. Rosenblatt Securities upped their target price on Miami International from $59.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Wall Street Zen cut Miami International from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. JPMorgan Chase & Co. lifted their target price on shares of Miami International from $41.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Finally, Morgan Stanley raised their price target on shares of Miami International from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Miami International presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.20.

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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