Sapient Capital LLC Acquires Shares of 26,612 Miami International Holdings, Inc. $MIAX

Key Points

• Sapient Capital acquired 26,612 shares of Miami International Holdings in the second quarter, valued at approximately $989,000. Several other institutional investors also initiated or increased positions.
• Miami International reported quarterly EPS of $0.48, beating estimates of $0.41, while revenue rose 34.8% year over year to $387.63 million. Shares opened at $43.62, with a market capitalization of about $4.14 billion.
• Analyst sentiment remains mixed, with four Buy ratings and five Hold ratings, producing a consensus Hold rating and a $52 price target. Insiders sold 682,508 shares worth approximately $29.7 million over the last quarter.

Sapient Capital LLC acquired a new position in shares of Miami International Holdings, Inc. (NYSE:MIAX - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 26,612 shares of the company's stock, valued at approximately $989,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State of Wyoming purchased a new stake in shares of Miami International during the fourth quarter worth approximately $26,000. National Bank of Canada FI acquired a new stake in shares of Miami International during the third quarter worth $29,000. Comerica Bank grew its position 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 buying an additional 937 shares during the last quarter. Fifth Third Bancorp purchased a new position in Miami International in the 1st quarter valued at $61,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Miami International in the 4th quarter valued at $66,000.

Miami International Trading Down 1.4%

Shares of MIAX opened at $43.62 on Tuesday. Miami International Holdings, Inc. has a twelve month low of $28.63 and a twelve month high of $57.14. The firm has a market capitalization of $4.14 billion and a P/E ratio of 56.65. The firm's 50-day moving average is $41.50 and its two-hundred day moving average is $42.94.

Miami International (NYSE:MIAX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 17.98%. Miami International's revenue was up 34.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 earnings per share. Analysts predict that Miami International Holdings, Inc. will post 1.67 EPS for the current year.

Insider Transactions at Miami International

In related news, CEO Thomas P. Gallagher sold 70,000 shares of Miami International stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $42.36, for a total transaction of $2,965,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,723,275 shares of the company's stock, valued at approximately $72,997,929. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Lance Emmons sold 35,000 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $56.36, for a total value of $1,972,600.00. Following the completion of the sale, the chief financial officer directly owned 84,262 shares in the company, valued at $4,749,006.32. This trade represents a 29.35% 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. Over the last quarter, insiders sold 682,508 shares of company stock valued at $29,673,638. Company insiders own 15.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on MIAX shares. Wall Street Zen cut shares of Miami International from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. Keefe, Bruyette & Woods boosted their price target on shares of Miami International from $46.00 to $48.00 and gave the stock a "market perform" rating in a research note on Friday. Zacks Research cut shares of Miami International from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Morgan Stanley raised their price objective on shares of Miami International from $50.00 to $53.00 and gave the company an "overweight" rating in a research report on Friday, July 10th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Miami International in a report on Friday. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $52.00.

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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