Northwestern Mutual Wealth Management Co. Buys Shares of 151,179 Miami International Holdings, Inc. $MIAX

Northwestern Mutual Wealth Management Co. purchased a new position in Miami International Holdings, Inc. (NYSE:MIAX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 151,179 shares of the company’s stock, valued at approximately $5,618,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Miami International in the second quarter valued at about $188,466,000. Vanguard Group Inc. acquired a new stake in shares of Miami International during the 3rd quarter valued at about $55,660,000. Alyeska Investment Group L.P. acquired a new stake in shares of Miami International during the 3rd quarter valued at about $50,959,000. Bank of America Corp DE bought a new stake in shares of Miami International in the 2nd quarter valued at approximately $31,845,000. Finally, Invesco Ltd. increased its holdings in Miami International by 178.8% in the fourth quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock worth $56,761,000 after buying an additional 820,246 shares during the last quarter.

Miami International Trading Up 5.8%

Shares of Miami International stock opened at $42.97 on Friday. The firm has a fifty day simple moving average of $42.72 and a 200-day simple moving average of $43.05. The stock has a market capitalization of $4.26 billion and a price-to-earnings ratio of 55.81. Miami International Holdings, Inc. has a 1-year low of $34.02 and a 1-year high of $57.14.

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 analysts’ consensus estimates of $0.41 by $0.07. The business 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 quarter in the previous year, the business posted $0.48 earnings per share. As a group, research analysts predict that Miami International Holdings, Inc. will post 1.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Barbara J. Comly sold 44,445 shares of the 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 completion of the sale, the executive vice president directly owned 882,984 shares of the company’s stock, valued at approximately $40,343,538.96. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 Douglas M. Schafer, Jr. sold 48,000 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $41.22, for a total transaction of $1,978,560.00. Following the transaction, the executive vice president directly owned 387,414 shares in the company, valued at $15,969,205.08. This trade represents a 11.02% 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. Over the last three months, insiders have sold 615,958 shares of company stock valued at $26,146,369. Company insiders own 15.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on MIAX shares. Keefe, Bruyette & Woods lifted their target price on shares of Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a research note on Friday, August 7th. Morgan Stanley lowered shares of Miami International from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $53.00 to $50.00 in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Miami International in a research report on Friday, August 7th. Finally, Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $51.40.

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.