Jain Global LLC Acquires Shares of 153,815 Miami International Holdings, Inc. $MIAX

Jain Global LLC bought a new position in Miami International Holdings, Inc. (NYSE:MIAX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 153,815 shares of the company’s stock, valued at approximately $6,193,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Harvey Partners LLC purchased a new stake in shares of Miami International during the 3rd quarter valued at approximately $2,013,000. Hound Partners LLC bought a new position in Miami International in the 3rd quarter worth approximately $1,006,000. Fred Alger Management LLC purchased a new position in Miami International in the 3rd quarter valued at approximately $986,000. Delta Global Management LP purchased a new stake in shares of Miami International during the third quarter worth $2,033,000. Finally, Centiva Capital LP purchased a new stake in shares of Miami International during the third quarter worth $337,000.

Insider Activity at Miami International

In related news, Director Murray Stahl sold 121,054 shares of Miami International stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $40.92, for a total value of $4,953,529.68. Following the transaction, the director owned 4,689,466 shares in the company, valued at $191,892,948.72. This trade represents a 2.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MIAX. Wall Street Zen upgraded Miami International from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Miami International in a report on Monday, December 29th. Zacks Research downgraded Miami International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $59.00 target price on shares of Miami International in a report on Thursday, March 5th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.00.

Miami International Price Performance

Shares of MIAX opened at $39.46 on Tuesday. Miami International Holdings, Inc. has a 1 year low of $28.63 and a 1 year high of $51.38. The stock has a 50 day simple moving average of $41.63 and a two-hundred day simple moving average of $42.55. The firm has a market cap of $3.62 billion and a P/E ratio of 73.06.

Miami International (NYSE:MIAX) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.41 by $0.11. The business had revenue of $369.43 million for the quarter, compared to analysts’ expectations of $121.13 million. Miami International’s revenue was up 14.0% compared to the same quarter last year.

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.