NewEdge Advisors LLC Purchases New Position in Miami International Holdings, Inc. $MIAX

Key Points

• Institutional interest increased: NewEdge Advisors acquired 39,025 MIAX shares valued at approximately $1.52 million, while Vanguard and Renaissance Technologies also expanded their positions.
• Earnings exceeded expectations: Miami International reported quarterly EPS of $0.48 versus the $0.41 consensus estimate, with revenue rising 34.8% year over year to $387.63 million.
• Analyst sentiment remains mixed: Price targets were raised by several firms, but coverage totals four Buy and five Hold ratings, producing an overall “Hold” consensus and an average target price of $52.

NewEdge Advisors LLC acquired a new position in shares of Miami International Holdings, Inc. (NYSE:MIAX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 39,025 shares of the company's stock, valued at approximately $1,519,000.

A number of other institutional investors have also recently bought and sold shares of MIAX. BNP Paribas Financial Markets bought a new position in shares of Miami International during the fourth quarter worth $8,477,000. Vanguard Group Inc. increased its position in shares of 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. Arrowstreet Capital Limited Partnership acquired a new stake in Miami International during the 1st quarter worth $5,834,000. Renaissance Technologies LLC raised its stake in Miami International by 39.2% during the 1st quarter. Renaissance Technologies LLC now owns 271,500 shares of the company's stock worth $10,567,000 after buying an additional 76,401 shares during the period. Finally, Seven Grand Managers LLC lifted its holdings in Miami International by 33.3% during the fourth quarter. Seven Grand Managers LLC now owns 400,000 shares of the company's stock worth $17,752,000 after acquiring an additional 100,000 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MIAX shares. Keefe, Bruyette & Woods boosted their target price on Miami International from $46.00 to $48.00 and gave the company a "market perform" rating in a research note on Friday, August 7th. Wall Street Zen upgraded Miami International from a "hold" rating to a "buy" rating in a report on Saturday. Rosenblatt Securities boosted their price objective on Miami International from $61.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on Miami International from $41.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Finally, Morgan Stanley raised their target price on shares of Miami International from $50.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $52.00.

Miami International Stock Performance

Miami International stock opened at $43.60 on Monday. The stock has a 50-day simple moving average of $41.73 and a 200 day simple moving average of $42.94. The stock has a market capitalization of $4.33 billion and a P/E ratio of 56.62. Miami International Holdings, Inc. has a 52 week low of $28.99 and a 52 week high of $57.14.

Miami International (NYSE:MIAX - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The firm had revenue of $387.63 million for the quarter. During the same quarter in the prior year, the company earned $0.48 EPS. Miami International's quarterly revenue was up 34.8% on a year-over-year basis. Research analysts forecast that Miami International Holdings, Inc. will post 1.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kurt M. Eckert sold 1,063 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $45.80, for a total value of $48,685.40. Following the sale, the director owned 149,612 shares in the company, valued at approximately $6,852,229.60. This represents a 0.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harish Jayabalan sold 20,000 shares of the firm's stock in a transaction 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 sale, the executive vice president directly owned 78,065 shares of the company's stock, valued at $3,583,183.50. This represents a 20.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 647,508 shares of company stock worth $27,701,038 in the last quarter. Company insiders own 15.60% of the company's stock.

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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