Royce & Associates LP Takes $8.05 Million Position in Miami International Holdings, Inc. $MIAX

Key Points

• Royce & Associates LP disclosed a new position in Miami International Holdings, buying 181,466 shares worth about $8.05 million in the fourth quarter.
• Miami International’s latest earnings beat expectations, with EPS of $0.42 versus $0.36 expected and revenue of $369.69 million, up 40% year over year.
• Despite strong results, insiders have been selling shares, including CEO Thomas P. Gallagher and EVP Shelly Brown, while analysts currently rate the stock a Moderate Buy with a consensus price target of $51.20.

Royce & Associates LP purchased a new stake in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 181,466 shares of the company's stock, valued at approximately $8,053,000. Royce & Associates LP owned 0.22% of Miami International as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. National Bank of Canada FI bought a new position in Miami International in the 3rd quarter valued at about $29,000. Comerica Bank raised its holdings in Miami International by 295.6% in the 4th quarter. Comerica Bank now owns 1,254 shares of the company's stock valued at $56,000 after acquiring an additional 937 shares during the period. SG Americas Securities LLC bought a new position in Miami International in the 4th quarter valued at about $105,000. Strs Ohio bought a new position in Miami International in the 4th quarter valued at about $186,000. Finally, Texas Yale Capital Corp. bought a new position in Miami International in the 3rd quarter valued at about $201,000.

Insider Buying and Selling at Miami International

In related news, EVP Shelly Brown sold 16,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $47.28, for a total transaction of $756,480.00. Following the sale, the executive vice president owned 325,047 shares in the company, valued at approximately $15,368,222.16. This trade represents a 4.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 54,229 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $47.26, for a total transaction of $2,562,862.54. Following the sale, the chief executive officer owned 1,723,275 shares in the company, valued at $81,441,976.50. This represents a 3.05% 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 722,175 shares of company stock worth $31,648,266 in the last three months.

Miami International Trading Down 4.8%

NYSE MIAX opened at $47.81 on Friday. The firm has a market capitalization of $4.54 billion and a price-to-earnings ratio of 49.81. The firm's 50 day simple moving average is $45.59 and its 200 day simple moving average is $44.12. Miami International Holdings, Inc. has a 1 year low of $28.63 and a 1 year high of $57.14.

Miami International (NYSE:MIAX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $369.69 million for the quarter, compared to analyst estimates of $122.74 million. The business's revenue was up 40.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. On average, equities research analysts forecast that Miami International Holdings, Inc. will post 1.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MIAX shares. JPMorgan Chase & Co. increased 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. Wall Street Zen cut shares of Miami International from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Keefe, Bruyette & Woods increased their price target on shares of Miami International from $40.00 to $48.00 and gave the company a "market perform" rating in a report on Friday, May 8th. Morgan Stanley increased their price target on shares of Miami International from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Friday, April 10th. Finally, Zacks Research upgraded shares of Miami International from a "hold" rating to a "strong-buy" rating in a research 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 assigned a Hold rating to the company's stock. According to data from MarketBeat, Miami International currently has an average rating of "Moderate Buy" and a consensus price target of $51.20.

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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