The Manufacturers Life Insurance Company Grows Position in Miami International Holdings, Inc. $MIAX

The Manufacturers Life Insurance Company raised its stake in shares of Miami International Holdings, Inc. (NYSE:MIAX) by 11.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 163,981 shares of the company’s stock after purchasing an additional 17,037 shares during the period. The Manufacturers Life Insurance Company’s holdings in Miami International were worth $6,382,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in MIAX. Vanguard Group Inc. purchased a new position in shares of Miami International during the 3rd quarter valued at about $55,660,000. First Trust Advisors LP purchased a new stake in Miami International in the 3rd quarter worth approximately $843,000. Legal & General Group Plc bought a new stake in Miami International during the 3rd quarter worth approximately $302,000. Franklin Resources Inc. bought a new stake in Miami International during the 3rd quarter worth approximately $17,403,000. Finally, Sei Investments Co. purchased a new position in Miami International during the third quarter valued at approximately $4,074,000.

Miami International Price Performance

Miami International stock opened at $45.87 on Thursday. Miami International Holdings, Inc. has a 1 year low of $28.63 and a 1 year high of $57.14. The firm’s 50 day moving average price is $41.66 and its 200-day moving average price is $42.92. The stock has a market cap of $4.35 billion and a P/E ratio of 47.78.

Miami International (NYSE:MIAX) last issued its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The company had revenue of $387.63 million for the quarter. The business’s revenue was up 34.8% compared to the same quarter last year. During the same period last year, the company posted $0.48 EPS. As a group, equities analysts expect that Miami International Holdings, Inc. will post 1.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MIAX. Keefe, Bruyette & Woods upped their price target on shares of Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, May 8th. Morgan Stanley lifted their target price on shares of Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Zacks Research downgraded shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Rosenblatt Securities increased their price target on Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. raised their price target on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $51.80.

Insider Activity at Miami International

In other Miami International news, CFO Lance Emmons sold 35,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $56.36, for a total transaction of $1,972,600.00. Following the completion of the transaction, the chief financial officer owned 84,262 shares of the company’s stock, valued at $4,749,006.32. This represents a 29.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 70,000 shares of Miami International stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $42.36, for a total value of $2,965,200.00. Following the completion of the sale, the chief executive officer directly owned 1,723,275 shares in the company, valued at $72,997,929. This trade represents a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 555,000 shares of company stock worth $23,841,231 over the last 90 days. Company insiders own 15.60% of the company’s stock.

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.