Philadelphia Financial Management of San Francisco LLC Invests $8.31 Billion in Miami International Holdings, Inc. $MIAX

Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Miami International Holdings, Inc. (NYSE:MIAX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 223,715 shares of the company's stock, valued at approximately $8,313,249,000. Miami International makes up about 1.7% of Philadelphia Financial Management of San Francisco LLC's holdings, making the stock its 20th biggest position. Philadelphia Financial Management of San Francisco LLC owned approximately 0.23% of Miami International at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new position in Miami International in the 4th quarter valued at about $8,477,000. Vanguard Group Inc. boosted 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 purchasing an additional 545,770 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Miami International during the 1st quarter worth $5,834,000. Renaissance Technologies LLC increased its position in shares of Miami International by 39.2% in the first quarter. Renaissance Technologies LLC now owns 271,500 shares of the company's stock worth $10,567,000 after purchasing an additional 76,401 shares during the period. Finally, Seven Grand Managers LLC grew its stake 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 buying an additional 100,000 shares in the last quarter.

Insider Buying and Selling

In related news, EVP Barbara J. Comly sold 44,445 shares of the company'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 transaction, the executive vice president owned 882,984 shares in the company, valued at approximately $40,343,538.96. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kurt M. Eckert sold 1,063 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $45.80, for a total value of $48,685.40. Following the transaction, the director directly owned 149,612 shares in the company, valued at $6,852,229.60. This represents a 0.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 797,208 shares of company stock worth $33,858,199 in the last three months. Insiders own 15.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research 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. Keefe, Bruyette & Woods upped their target price on Miami International from $46.00 to $48.00 and gave the stock a "market perform" rating in a report on Friday, August 7th. Rosenblatt Securities increased their target price on Miami International from $61.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings restated a "hold (c)" rating on shares of Miami International in a report on Friday, August 7th. Finally, Morgan Stanley boosted 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 analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Miami International currently has a consensus rating of "Hold" and a consensus price target of $52.00.

Miami International Trading Down 2.8%

Shares of NYSE MIAX opened at $43.11 on Thursday. The firm has a market capitalization of $4.28 billion and a P/E ratio of 55.99. Miami International Holdings, Inc. has a 1-year low of $33.05 and a 1-year high of $57.14. The firm's 50-day moving average price is $42.01 and its 200-day moving average price is $43.00.

Miami International (NYSE:MIAX - Get Free Report) last announced its earnings results 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. The company had revenue of $387.63 million for the quarter. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The firm's quarterly revenue was up 34.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. Equities research analysts forecast that Miami International Holdings, Inc. will post 1.69 EPS for the current year.

Miami International 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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