Northwestern Mutual Wealth Management Co. Acquires New Position in Miami International Holdings, Inc. $MIAX

Key Points

• Northwestern Mutual Wealth Management initiated a position in Miami International Holdings by purchasing 151,179 shares worth approximately $5.6 million, while several other institutional investors also added new stakes.
• Miami International reported quarterly EPS of $0.48, beating estimates by $0.07, while revenue rose 34.8% year over year to $387.63 million. The stock opened at $42.58, with analysts maintaining a consensus “Hold” rating and a $52 price target.
• Insiders sold 797,208 shares valued at roughly $33.9 million during the last quarter, including CEO Thomas Gallagher’s 149,700-share sale under a pre-arranged Rule 10b5-1 plan.

Northwestern Mutual Wealth Management Co. bought a new position in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 151,179 shares of the company's stock, valued at approximately $5,618,000. Northwestern Mutual Wealth Management Co. owned approximately 0.15% of Miami International as of its most recent SEC filing.

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

Miami International Stock Down 0.0%

NYSE:MIAX opened at $42.58 on Monday. The company's 50 day moving average is $41.83 and its 200-day moving average is $42.95. Miami International Holdings, Inc. has a 12 month low of $32.19 and a 12 month high of $57.14. The firm has a market cap of $4.23 billion and a price-to-earnings ratio of 55.30.

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

Analysts Set New Price Targets

Several analysts have commented on MIAX shares. Zacks Research downgraded shares of Miami International from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Rosenblatt Securities lifted their price objective on shares of Miami International from $61.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Morgan Stanley upped their price objective 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. Weiss Ratings reissued a "hold (c)" rating on shares of Miami International in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. raised 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. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $52.00.

Insiders Place Their Bets

In other news, CEO Thomas P. Gallagher sold 149,700 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $41.13, for a total value of $6,157,161.00. Following the sale, the chief executive officer directly owned 1,423,275 shares of the company's stock, valued at approximately $58,539,300.75. This trade represents a 9.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of Miami International stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $42.84, for a total value of $2,056,320.00. Following the completion of the transaction, the executive vice president owned 396,681 shares in the company, valued at $16,993,814.04. The trade was a 10.79% decrease in their ownership of the stock. 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. Insiders sold a total of 797,208 shares of company stock valued at $33,858,199 in the last quarter. Insiders own 15.60% of the company's stock.

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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