North Reef Capital Management LP Makes New Investment in Miami International Holdings, Inc. $MIAX

North Reef Capital Management LP bought a new stake in shares of Miami International Holdings, Inc. (NYSE:MIAX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 725,804 shares of the company’s stock, valued at approximately $29,221,000. Miami International accounts for approximately 1.4% of North Reef Capital Management LP’s portfolio, making the stock its 16th biggest holding. North Reef Capital Management LP owned about 0.89% of Miami International as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. National Bank of Canada FI acquired a new position in Miami International in the third quarter valued at about $29,000. Emerald Mutual Fund Advisers Trust bought a new position in Miami International in the 3rd quarter valued at about $101,000. Texas Yale Capital Corp. bought a new position in Miami International in the 3rd quarter valued at about $201,000. Sandia Investment Management LP acquired a new position in shares of Miami International in the 3rd quarter valued at approximately $266,000. Finally, Limestone Investment Advisors LP bought a new stake in shares of Miami International during the 3rd quarter worth approximately $278,000.

Miami International Price Performance

NYSE MIAX opened at $39.46 on Tuesday. The business’s fifty day moving average is $41.63 and its 200-day moving average is $42.55. The stock has a market capitalization of $3.62 billion and a price-to-earnings ratio of 73.06. Miami International Holdings, Inc. has a one year low of $28.63 and a one year high of $51.38.

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

Insider Buying and Selling at Miami International

In other news, Director Murray Stahl sold 121,054 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $40.92, for a total transaction of $4,953,529.68. Following the completion of the sale, 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 SEC, which is available at this hyperlink.

Analysts Set New Price Targets

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

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.