NewEdge Advisors LLC Acquires 642,585 Shares of Miami International Holdings, Inc. $MIAX

NewEdge Advisors LLC boosted its holdings in shares of Miami International Holdings, Inc. (NYSE:MIAX) by 1,646.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 681,610 shares of the company’s stock after acquiring an additional 642,585 shares during the quarter. NewEdge Advisors LLC’s holdings in Miami International were worth $25,329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State of Wyoming bought a new stake in shares of Miami International during the fourth quarter worth $26,000. National Bank of Canada FI bought a new position in shares of Miami International in the third quarter worth about $29,000. Comerica Bank increased its stake in 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 buying an additional 937 shares during the period. Fifth Third Bancorp purchased a new position in Miami International in the 1st quarter worth about $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Miami International during the 4th quarter valued at about $66,000.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MIAX. Keefe, Bruyette & Woods boosted their price objective on shares of Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, August 7th. Rosenblatt Securities lifted their price target on shares of Miami International from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley lowered Miami International from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $53.00 to $50.00 in a report on Tuesday, September 1st. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Miami International in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Miami International has an average rating of “Hold” and an average target price of $51.40.

Miami International Trading Down 1.3%

MIAX opened at $42.89 on Thursday. The firm has a market cap of $4.26 billion and a price-to-earnings ratio of 55.70. Miami International Holdings, Inc. has a 12 month low of $35.43 and a 12 month high of $57.14. The stock has a fifty day moving average price of $43.13 and a 200-day moving average price of $43.10.

Miami International (NYSE:MIAX) last posted its earnings results 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. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The company had revenue of $387.63 million for the quarter. During the same quarter last year, the firm earned $0.48 EPS. Miami International’s revenue for the quarter was up 34.8% on a year-over-year basis. On average, equities research analysts forecast that Miami International Holdings, Inc. will post 1.7 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $40.48, for a total transaction of $1,943,040.00. Following the completion of the transaction, the executive vice president owned 387,414 shares in the company, valued at $15,682,518.72. The trade was a 11.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 47,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $42.43, for a total transaction of $1,994,210.00. Following the sale, the chief executive officer directly owned 1,423,275 shares of the company’s stock, valued at $60,389,558.25. The trade was a 3.20% 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. In the last ninety days, insiders sold 735,448 shares of company stock worth $31,085,386. 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.