Walleye Capital LLC Raises Stock Position in Miami International Holdings, Inc. $MIAX

Walleye Capital LLC grew its stake in Miami International Holdings, Inc. (NYSE:MIAX) by 307.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,522 shares of the company’s stock after purchasing an additional 29,059 shares during the quarter. Walleye Capital LLC’s holdings in Miami International were worth $1,499,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. State of Wyoming purchased a new position in shares of Miami International during the fourth quarter valued at about $26,000. National Bank of Canada FI purchased a new stake in Miami International in the third quarter worth about $29,000. Comerica Bank lifted its holdings in Miami International by 295.6% in the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after buying an additional 937 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Miami International during the 4th quarter valued at approximately $66,000. Finally, Fifth Third Bancorp bought a new stake in Miami International during the 1st quarter valued at approximately $61,000.

Insider Buying and Selling

In other Miami International 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 owned 1,723,275 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Barbara J. Comly sold 28,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $42.85, for a total value of $1,199,800.00. Following the completion of the sale, the executive vice president directly owned 843,844 shares in the company, valued at approximately $36,158,715.40. This represents a 3.21% decrease in their ownership of the stock. 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 sold 720,854 shares of company stock worth $31,679,840 in the last 90 days. Corporate insiders own 15.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Keefe, Bruyette & Woods upped their price target on Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. increased their price objective on Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Rosenblatt Securities raised their price objective on Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $51.80.

Miami International Stock Performance

Shares of MIAX opened at $41.67 on Friday. The stock has a market cap of $3.95 billion and a PE ratio of 43.40. Miami International Holdings, Inc. has a fifty-two week low of $28.63 and a fifty-two week high of $57.14. The firm’s 50-day simple moving average is $42.86 and its two-hundred day simple moving average is $42.76.

Miami International (NYSE:MIAX) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $369.69 million for the quarter, compared to the consensus estimate of $122.74 million. During the same period in the prior year, the business posted $0.38 EPS. Miami International’s revenue for the quarter was up 40.0% on a year-over-year basis. Equities research analysts predict that Miami International Holdings, Inc. will post 1.58 EPS for the current year.

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.