The Manufacturers Life Insurance Company Invests $6.59 Million in Miami International Holdings, Inc. $MIAX

Key Points

• The Manufacturers Life Insurance Company initiated a $6.59 million position in Miami International Holdings, purchasing 177,273 shares, or approximately 0.18% of MIAX.
• Analysts maintain a mixed outlook: four rate the stock a Buy and five a Hold, producing a consensus Hold rating and a $52 price target versus the recent $43.07 share price.
• Miami International beat quarterly earnings expectations with EPS of $0.48 versus $0.41 expected, while revenue rose 34.8% year over year to $387.63 million. Insiders sold approximately $33.9 million of stock over the past 90 days, primarily through pre-arranged plans.

The Manufacturers Life Insurance Company bought a new position in shares of Miami International Holdings, Inc. (NYSE:MIAX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 177,273 shares of the company's stock, valued at approximately $6,587,000. The Manufacturers Life Insurance Company owned approximately 0.18% of Miami International as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MIAX. State of Wyoming acquired a new stake in Miami International during the fourth quarter worth approximately $26,000. National Bank of Canada FI acquired a new stake in Miami International during the 3rd quarter worth $29,000. Comerica Bank lifted its position in Miami International by 295.6% in the fourth 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 last quarter. Fifth Third Bancorp purchased a new position in shares of Miami International during the first quarter worth about $61,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Miami International during the fourth quarter worth about $66,000.

Wall Street Analyst Weigh In

Several research firms have commented on MIAX. Keefe, Bruyette & Woods lifted their price target on Miami International from $46.00 to $48.00 and gave the stock a "market perform" rating in a research report on Friday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Miami International from $41.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Miami International in a report on Friday, August 7th. Rosenblatt Securities upped their price target on shares of Miami International from $61.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Morgan Stanley increased their price target on shares of Miami International from $50.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, July 10th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $52.00.

Miami International Price Performance

Miami International stock opened at $43.07 on Monday. The business has a 50 day simple moving average of $42.26 and a 200-day simple moving average of $43.03. Miami International Holdings, Inc. has a 12 month low of $34.02 and a 12 month high of $57.14. The stock has a market capitalization of $4.27 billion and a PE ratio of 55.94.

Miami International (NYSE:MIAX - Get Free Report) last announced its quarterly earnings data 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 net margin of 9.70% and a return on equity of 16.95%. The business's quarterly revenue was up 34.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 earnings per share. As a group, equities research analysts anticipate that Miami International Holdings, Inc. will post 1.69 EPS for the current year.

Insider Buying and Selling

In related news, CEO Thomas P. Gallagher sold 149,700 shares of the firm's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $41.13, for a total value of $6,157,161.00. Following the completion of the sale, the chief executive officer owned 1,423,275 shares in the company, valued at $58,539,300.75. This trade represents a 9.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Barbara J. Comly sold 44,445 shares of the business'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 $40,343,538.96. The trade was a 4.79% decrease in their position. 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 797,208 shares of company stock valued at $33,858,199 over the last ninety days. Corporate insiders own 15.60% of the company's stock.

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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