Philadelphia Financial Management of San Francisco LLC Purchases New Stake in Miami International Holdings, Inc. $MIAX

Key Points

• Philadelphia Financial Management acquired 223,715 Miami International shares worth approximately $8.3 million, making MIAX its 20th-largest holding and representing about 0.23% of the company.
• 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 traded at $43.88, below the analyst consensus price target of $52.
• Analyst sentiment remains mixed, with a consensus “Hold” rating, while insiders sold roughly 797,208 shares worth $33.9 million over the past 90 days, including sales conducted under pre-arranged trading plans.

Philadelphia Financial Management of San Francisco LLC purchased a new position in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 223,715 shares of the company's stock, valued at approximately $8,313,249. Miami International makes up 1.7% of Philadelphia Financial Management of San Francisco LLC's portfolio, making the stock its 20th biggest holding. Philadelphia Financial Management of San Francisco LLC owned about 0.23% of Miami International as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MIAX. State of Wyoming purchased a new stake in Miami International during the 4th quarter valued at about $26,000. National Bank of Canada FI purchased a new stake in Miami International during the 3rd quarter valued at about $29,000. Comerica Bank grew 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 purchasing an additional 937 shares during the last quarter. Fifth Third Bancorp purchased a new stake in Miami International during the 1st quarter valued at about $61,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Miami International during the 4th quarter valued at about $66,000.

Miami International Stock Performance

NYSE MIAX traded down $0.17 on Friday, hitting $43.88. 90,366 shares of the stock were exchanged, compared to its average volume of 1,507,450. The stock has a fifty day moving average price of $42.15 and a two-hundred day moving average price of $43.02. The firm has a market capitalization of $4.35 billion and a P/E ratio of 56.99. Miami International Holdings, Inc. has a 52-week low of $34.02 and a 52-week high of $57.14.

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

Analyst Ratings Changes

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Miami International from $41.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Zacks Research lowered shares of Miami International from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Wall Street Zen lowered shares of Miami International from a "buy" rating to a "hold" rating in a research report on Sunday, August 23rd. Keefe, Bruyette & Woods lifted their price objective 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. Finally, 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 report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $52.00.

Insider Activity

In related news, EVP Barbara J. Comly sold 44,445 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $45.69, for a total value of $2,030,692.05. Following the completion of the sale, the executive vice president owned 882,984 shares in the company, valued at approximately $40,343,538.96. The trade was a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, Director Judson Gray Teekell sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $45.79, for a total value of $137,370.00. Following the completion of the transaction, the director directly owned 72,251 shares in the company, valued at approximately $3,308,373.29. This trade represents a 3.99% 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. In the last ninety days, insiders have sold 797,208 shares of company stock valued at $33,858,199. 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.