Goodwin Investment Advisory Makes New $1.04 Million Investment in Miami International Holdings, Inc. $MIAX

Key Points

• Goodwin Investment Advisory initiated a $1.04 million position in Miami International Holdings during the second quarter, while several other institutions—including Vanguard and Franklin Resources—also established new stakes.
• Miami International reported quarterly earnings of $0.48 per share, beating estimates by $0.07, while revenue rose 34.8% year over year to $387.63 million.
• MIAX shares opened at $43.07, down 2.2%; analysts maintain a consensus “Hold” rating with an average price target of $52.00, despite some firms raising their targets.

Goodwin Investment Advisory bought a new position in shares of Miami International Holdings, Inc. (NYSE:MIAX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 28,025 shares of the company's stock, valued at approximately $1,041,000. Miami International makes up about 2.1% of Goodwin Investment Advisory's holdings, making the stock its 8th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of MIAX. Vanguard Group Inc. acquired a new position in Miami International during the third quarter worth about $55,660,000. First Trust Advisors LP acquired a new stake in Miami International in the 3rd quarter valued at about $843,000. Legal & General Group Plc purchased a new position in Miami International in the 3rd quarter worth approximately $302,000. Franklin Resources Inc. acquired a new position in shares of Miami International during the 3rd quarter worth approximately $17,403,000. Finally, Sei Investments Co. acquired a new position in shares of Miami International during the 3rd quarter worth approximately $4,074,000.

Insider Activity

In related news, EVP Harish Jayabalan sold 20,000 shares of Miami International stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $45.90, for a total value of $918,000.00. Following the completion of the transaction, the executive vice president owned 78,065 shares in the company, valued at $3,583,183.50. The trade was a 20.39% decrease in their ownership of the stock. 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, Director Judson Gray Teekell sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $45.79, for a total transaction of $137,370.00. Following the transaction, the director owned 72,251 shares of the company's stock, valued at $3,308,373.29. This trade represents a 3.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 797,208 shares of company stock valued at $33,858,199. 15.60% of the stock is owned by corporate insiders.

Miami International Stock Down 2.2%

Shares of MIAX opened at $43.07 on Friday. The company has a market cap of $4.27 billion and a P/E ratio of 55.94. Miami International Holdings, Inc. has a fifty-two week low of $34.02 and a fifty-two week high of $57.14. The firm's 50 day moving average price is $42.26 and its 200 day moving average price is $43.02.

Miami International (NYSE:MIAX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. The company 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%.Miami International's revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. Research analysts forecast that Miami International Holdings, Inc. will post 1.69 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on MIAX shares. Rosenblatt Securities upped their target price on Miami International from $61.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Wall Street Zen downgraded shares of Miami International from a "buy" rating to a "hold" rating in a research note on Sunday, August 23rd. Morgan Stanley increased their price target on shares of Miami International from $50.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Weiss Ratings restated a "hold (c)" rating on shares of Miami International in a report on Friday, August 7th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Miami International from $46.00 to $48.00 and gave the company a "market perform" rating in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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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