Sei Investments Co. Increases Stake in Miami International Holdings, Inc. $MIAX

Sei Investments Co. grew its holdings in shares of Miami International Holdings, Inc. (NYSE:MIAX) by 54.7% during the 1st quarter, HoldingsChannel reports. The firm owned 526,363 shares of the company’s stock after buying an additional 186,108 shares during the period. Sei Investments Co.’s holdings in Miami International were worth $20,486,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Weiss Ratings upgraded Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods lifted their price objective on Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, May 8th. Wall Street Zen downgraded 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 note on Tuesday, June 23rd. Finally, Rosenblatt Securities raised their target price on Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Miami International presently has a consensus rating of “Hold” and an average target price of $51.80.

Insiders Place Their Bets

In other Miami International news, CEO Thomas P. Gallagher sold 70,000 shares of the firm’s 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 sale, the chief executive officer owned 1,723,275 shares of the company’s stock, valued at $72,997,929. This trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Barbara J. Comly sold 28,000 shares of Miami International stock in a transaction on Tuesday, June 2nd. The shares were 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 owned 843,844 shares in the company, valued at $36,158,715.40. This represents a 3.21% 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. Over the last three months, insiders have sold 720,854 shares of company stock valued at $31,679,840. Insiders own 15.60% of the company’s stock.

Miami International Price Performance

NYSE:MIAX opened at $46.46 on Thursday. The firm has a market capitalization of $4.41 billion and a price-to-earnings ratio of 48.40. The company’s 50-day moving average is $42.12 and its two-hundred day moving average is $42.78. Miami International Holdings, Inc. has a 1-year low of $28.63 and a 1-year high of $57.14.

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