Sei Investments Co. Boosts Stock Position in Miami International Holdings, Inc. $MIAX

Key Points

• Sei Investments increased its Miami International Holdings position by 54.7% in the first quarter, adding 186,108 shares to own 526,363 shares valued at approximately $20.5 million.
• Analyst sentiment remains mixed, with four Buy ratings and five Holds producing a consensus Hold rating and an average price target of $51.80.
• Miami International reported quarterly EPS of $0.42, exceeding estimates of $0.36, while revenue rose 40% year over year to $369.69 million. However, insiders sold 720,854 shares worth about $31.7 million over the past 90 days.

Sei Investments Co. increased its holdings in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) by 54.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 526,363 shares of the company's stock after purchasing an additional 186,108 shares during the period. Sei Investments Co. owned approximately 0.55% of Miami International worth $20,486,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. State of Wyoming purchased a new position in shares of Miami International in the 4th quarter worth $26,000. National Bank of Canada FI purchased a new stake in shares of Miami International in the third quarter valued at $29,000. Comerica Bank lifted its holdings in shares of Miami International by 295.6% in the 4th quarter. Comerica Bank now owns 1,254 shares of the company's stock worth $56,000 after acquiring an additional 937 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Miami International during the 4th quarter worth about $66,000. Finally, Fifth Third Bancorp bought a new position in Miami International during the 1st quarter valued at about $61,000.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Miami International from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. 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. Morgan Stanley lifted their price objective on shares of Miami International from $50.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. Rosenblatt Securities boosted their price objective on shares of Miami International from $59.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Finally, Zacks Research cut shares of Miami International from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $51.80.

Insider Buying and Selling

In related news, EVP Shelly Brown sold 16,000 shares of the company's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $42.13, for a total transaction of $674,080.00. Following the completion of the transaction, the executive vice president owned 353,990 shares in the company, valued at $14,913,598.70. This represents a 4.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Barbara J. Comly sold 28,000 shares of the firm's stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $41.98, for a total transaction of $1,175,440.00. Following the completion of the transaction, the executive vice president directly owned 882,984 shares in the company, valued at $37,067,668.32. This represents a 3.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 720,854 shares of company stock valued at $31,679,840 in the last 90 days. 15.60% of the stock is currently owned by insiders.

Miami International Price Performance

NYSE MIAX opened at $46.46 on Thursday. The stock's fifty day moving average price is $42.12 and its 200 day moving average price is $42.78. Miami International Holdings, Inc. has a 1 year low of $28.63 and a 1 year high of $57.14. The company has a market cap of $4.41 billion and a price-to-earnings ratio of 48.40.

Miami International (NYSE:MIAX - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $122.74 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The company's revenue for the quarter was up 40.0% compared to the same quarter last year. Research analysts expect that Miami International Holdings, Inc. will post 1.58 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source