Maltese Capital Management LLC Sells 121,325 Shares of Miami International Holdings, Inc. $MIAX

Key Points

• Maltese Capital Management cut its stake in Miami International Holdings by 75.8% in the fourth quarter, selling 121,325 shares and leaving it with 38,675 shares valued at about $1.7 million.
• Miami International reported strong quarterly results, with EPS of $0.42 beating estimates and revenue of $369.69 million, up 40% year over year and far above analysts’ expectations.
• Analyst sentiment remains generally positive: the stock has a Moderate Buy consensus with an average target price of $51.20, though recent insider sales by executives and directors were also disclosed.

Maltese Capital Management LLC trimmed its stake in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) by 75.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,675 shares of the company's stock after selling 121,325 shares during the period. Maltese Capital Management LLC's holdings in Miami International were worth $1,716,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. State of Wyoming bought a new position in shares of Miami International in the 4th quarter worth $26,000. National Bank of Canada FI bought a new position in shares of Miami International in the 3rd quarter worth $29,000. Comerica Bank increased its position in Miami International by 295.6% during the 4th quarter. Comerica Bank now owns 1,254 shares of the company's stock valued at $56,000 after buying an additional 937 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Miami International during the 4th quarter valued at about $77,000. Finally, SG Americas Securities LLC acquired a new position in Miami International during the 4th quarter valued at about $105,000.

Miami International Stock Performance

Miami International stock opened at $44.00 on Tuesday. The business's 50-day simple moving average is $46.33 and its two-hundred day simple moving average is $43.72. The company has a market cap of $4.18 billion and a PE ratio of 45.84. Miami International Holdings, Inc. has a fifty-two week low of $28.63 and a fifty-two week high of $57.14.

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

Analyst Ratings Changes

Several brokerages recently issued reports on MIAX. Rosenblatt Securities upped their target price on Miami International from $59.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Keefe, Bruyette & Woods upped their target price on Miami International from $40.00 to $48.00 and gave the company a "market perform" rating in a research report on Friday, May 8th. Zacks Research raised Miami International from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. Morgan Stanley upped their target price on Miami International from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, April 10th. Finally, Wall Street Zen lowered Miami International from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.20.

Insider Buying and Selling at Miami International

In other Miami International news, EVP Harish Jayabalan sold 9,783 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $40.04, for a total transaction of $391,711.32. Following the sale, the executive vice president owned 73,405 shares in the company, valued at approximately $2,939,136.20. The trade was a 11.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 dated Tuesday, June 2nd. The shares were sold at an average price of $42.78, for a total value of $128,340.00. Following the sale, the director owned 71,014 shares in the company, valued at approximately $3,037,978.92. The trade was a 4.05% decrease in their position. 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. In the last quarter, insiders have sold 773,871 shares of company stock worth $34,114,399. 15.60% of the stock is owned by corporate insiders.

Miami International Company 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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