Seven Grand Managers LLC Purchases 100,000 Shares of Miami International Holdings, Inc. $MIAX

Key Points

• Seven Grand Managers LLC increased its stake in Miami International Holdings by 33.3% in the fourth quarter, buying 100,000 additional shares to bring its total to 400,000 shares.
• Miami International reported strong quarterly results, with EPS of $0.42 beating estimates and revenue of $369.69 million, up 40% year over year.
• Insider selling was notable, including CEO Thomas P. Gallagher and EVP Edward Deitzel, while analysts currently rate the stock a Moderate Buy with a consensus price target of $51.20.

Seven Grand Managers LLC raised its position in Miami International Holdings, Inc. (NYSE:MIAX - Free Report) by 33.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 400,000 shares of the company's stock after buying an additional 100,000 shares during the quarter. Miami International comprises about 1.4% of Seven Grand Managers LLC's portfolio, making the stock its 22nd largest position. Seven Grand Managers LLC owned about 0.49% of Miami International worth $17,752,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MIAX. Vanguard Group Inc. bought a new position in Miami International in the 3rd quarter valued at about $55,660,000. Alyeska Investment Group L.P. bought a new position in Miami International in the 3rd quarter valued at about $50,959,000. JPMorgan Chase & Co. bought a new position in Miami International in the 3rd quarter valued at about $32,679,000. North Reef Capital Management LP bought a new position in Miami International in the 3rd quarter valued at about $29,221,000. Finally, Wellington Management Group LLP bought a new position in Miami International in the 3rd quarter valued at about $23,476,000.

Miami International Price Performance

NYSE:MIAX opened at $50.32 on Thursday. The firm's 50 day simple moving average is $45.43 and its 200 day simple moving average is $44.13. Miami International Holdings, Inc. has a one year low of $28.63 and a one year high of $57.14. The company has a market cap of $4.78 billion and a PE ratio of 52.42.

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

Insider Buying and Selling at Miami International

In related news, CEO Thomas P. Gallagher sold 54,229 shares of Miami International stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $47.26, for a total transaction of $2,562,862.54. Following the sale, the chief executive officer directly owned 1,723,275 shares in the company, valued at $81,441,976.50. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Edward Deitzel sold 11,000 shares of Miami International stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $47.28, for a total transaction of $520,080.00. Following the sale, the executive vice president owned 116,221 shares in the company, valued at approximately $5,494,928.88. This represents a 8.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 722,175 shares of company stock worth $31,648,266 over the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MIAX shares. Rosenblatt Securities lifted their price target on shares of Miami International from $59.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, May 7th. JPMorgan Chase & Co. lifted 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 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. Keefe, Bruyette & Woods lifted 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. Finally, Weiss Ratings raised shares of Miami International from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.20.

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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