Element Capital Management LLC Acquires Shares of 27,855 Miami International Holdings, Inc. $MIAX

Element Capital Management LLC bought a new position in shares of Miami International Holdings, Inc. (NYSE:MIAX) in the 4th quarter, HoldingsChannel reports. The fund bought 27,855 shares of the company’s stock, valued at approximately $1,236,000.

A number of other hedge funds have also added to or reduced their stakes in MIAX. Vanguard Group Inc. purchased a new stake in shares of Miami International in the third quarter worth approximately $55,660,000. Alyeska Investment Group L.P. purchased a new position in shares of Miami International during the third quarter valued at approximately $50,959,000. JPMorgan Chase & Co. bought a new stake in Miami International during the third quarter worth $32,679,000. North Reef Capital Management LP purchased a new stake in Miami International in the 3rd quarter valued at $29,221,000. Finally, Wellington Management Group LLP purchased a new stake in Miami International in the 3rd quarter valued at $23,476,000.

Miami International Stock Down 5.9%

Shares of MIAX stock opened at $37.86 on Thursday. The firm has a market cap of $3.59 billion and a P/E ratio of 39.44. The company has a 50 day moving average of $46.26 and a 200-day moving average of $43.63. Miami International Holdings, Inc. has a 12-month low of $28.63 and a 12-month high of $57.14.

Miami International (NYSE:MIAX) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating 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 company posted $0.38 EPS. Miami International’s revenue for the quarter was up 40.0% on a year-over-year basis. As a group, equities analysts expect that Miami International Holdings, Inc. will post 1.53 EPS for the current year.

Insider Transactions at Miami International

In other Miami International news, CEO Thomas P. Gallagher sold 174,125 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $43.36, for a total transaction of $7,550,060.00. Following the completion of the transaction, the chief executive officer owned 1,723,275 shares in the company, valued at $74,721,204. This trade represents a 9.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $47.25, for a total transaction of $2,268,000.00. Following the completion of the sale, the executive vice president directly owned 396,681 shares in the company, valued at approximately $18,743,177.25. This trade represents a 10.79% 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 735,954 shares of company stock worth $32,635,636 over the last 90 days. 15.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MIAX shares. Weiss Ratings raised Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Zacks Research raised Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods upped their price objective on Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a research note on Friday, May 8th. Finally, Morgan Stanley lifted their target price on Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. One research 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 stock. According to MarketBeat, Miami International presently has a consensus rating of “Moderate Buy” and an average target price of $51.20.

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.