Miami International Holdings, Inc. $MIAX Shares Purchased by Caldwell Investment Management Ltd.

Key Points

• Caldwell Investment Management increased its Miami International Holdings stake by 11.3% in Q4, making MIAX its largest portfolio position and giving it about 0.91% ownership worth roughly $33.7 million.
• Several other institutional investors also boosted holdings, including Vanguard, Horizon Kinetics, and Allspring, while insiders sold shares over the past 90 days, including director Kurt M. Eckert and EVP Barbara J. Comly.
• Miami International reported better-than-expected quarterly results with EPS of $0.42 versus estimates of $0.36 and revenue of $369.69 million, while analysts currently hold a Moderate Buy consensus with a target price of $51.20.

Caldwell Investment Management Ltd. raised its stake in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 738,810 shares of the company's stock after buying an additional 75,000 shares during the quarter. Miami International makes up approximately 20.6% of Caldwell Investment Management Ltd.'s investment portfolio, making the stock its largest position. Caldwell Investment Management Ltd. owned about 0.91% of Miami International worth $33,726,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Miami International by 39.5% in the 4th quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company's stock valued at $85,577,000 after buying an additional 545,770 shares in the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in Miami International by 31.6% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company's stock valued at $80,763,000 after buying an additional 437,395 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in Miami International in the 3rd quarter valued at $50,959,000. Allspring Global Investments Holdings LLC grew its holdings in Miami International by 105.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 932,053 shares of the company's stock valued at $40,684,000 after buying an additional 478,385 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Miami International by 0.3% in the 4th quarter. JPMorgan Chase & Co. now owns 814,340 shares of the company's stock valued at $36,140,000 after buying an additional 2,629 shares in the last quarter.

Insider Activity at Miami International

In related news, Director Kurt M. Eckert sold 37,917 shares of the firm's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $39.00, for a total transaction of $1,478,763.00. Following the completion of the transaction, the director directly owned 142,375 shares in the company, valued at $5,552,625. This trade represents a 21.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Barbara J. Comly sold 29,667 shares of the firm's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $43.64, for a total value of $1,294,667.88. Following the transaction, the executive vice president owned 843,844 shares of the company's stock, valued at $36,825,352.16. This trade represents a 3.40% 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 782,371 shares of company stock worth $34,406,566 over the last ninety days. Company insiders own 15.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Miami International from $41.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Rosenblatt Securities increased their price target on Miami International from $59.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Morgan Stanley increased their price target on Miami International from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, April 10th. Keefe, Bruyette & Woods increased their price target on Miami International from $40.00 to $48.00 and gave the stock a "market perform" rating in a report on Friday, May 8th. Finally, Zacks Research upgraded Miami International from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Miami International currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.20.

Miami International Trading Up 2.8%

NYSE MIAX opened at $39.81 on Wednesday. The stock has a market cap of $3.78 billion and a PE ratio of 41.47. Miami International Holdings, Inc. has a twelve month low of $28.63 and a twelve month high of $57.14. The stock has a fifty day simple moving average of $46.06 and a 200-day simple moving average of $43.77.

Miami International (NYSE:MIAX - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates 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. During the same quarter last year, the business earned $0.38 earnings per share. The business's revenue was up 40.0% compared to the same quarter last year. Research analysts predict that Miami International Holdings, Inc. will post 1.53 EPS for the current year.

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.

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.