Caldwell Investment Management Ltd. Takes Position in Miami International Holdings, Inc. $MIAX

Caldwell Investment Management Ltd. acquired a new position in Miami International Holdings, Inc. (NYSE:MIAX) during the 2nd quarter, HoldingsChannel reports. The fund acquired 600,000 shares of the company’s stock, valued at approximately $22,279,000. Miami International comprises 14.6% of Caldwell Investment Management Ltd.’s investment portfolio, making the stock its 2nd largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MIAX. Mad River Investors raised its holdings in shares of Miami International by 0.6% in the 4th quarter. Mad River Investors now owns 75,050 shares of the company’s stock worth $3,331,000 after purchasing an additional 450 shares during the period. State of Wyoming bought a new position in Miami International during the fourth quarter valued at $26,000. National Bank of Canada FI purchased a new stake in Miami International in the third quarter worth $29,000. First Trust Advisors LP raised its stake in shares of Miami International by 3.5% in the fourth quarter. First Trust Advisors LP now owns 21,671 shares of the company’s stock valued at $962,000 after buying an additional 733 shares during the period. Finally, Coastal Bridge Advisors LLC raised its stake in shares of Miami International by 1.1% in the fourth quarter. Coastal Bridge Advisors LLC now owns 77,415 shares of the company’s stock valued at $3,436,000 after buying an additional 850 shares during the period.

Insider Activity

In other news, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $42.84, for a total transaction of $2,056,320.00. Following the transaction, the executive vice president directly owned 396,681 shares of the company’s stock, valued at $16,993,814.04. This represents a 10.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Barbara J. Comly sold 44,445 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $45.69, for a total transaction of $2,030,692.05. Following the completion of the transaction, the executive vice president directly owned 882,984 shares in the company, valued at approximately $40,343,538.96. The trade was a 4.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 797,208 shares of company stock valued at $33,858,199 over the last three months. Insiders own 15.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MIAX shares. Zacks Research cut Miami International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Wall Street Zen raised shares of Miami International from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Rosenblatt Securities upped their target price on Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley raised their price objective on shares of Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. raised their price objective on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a report 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $52.00.

Miami International Stock Performance

Shares of NYSE:MIAX opened at $42.58 on Friday. The firm has a market capitalization of $4.23 billion and a P/E ratio of 55.30. The stock has a 50 day moving average price of $41.83 and a 200-day moving average price of $42.94. Miami International Holdings, Inc. has a 52-week low of $32.19 and a 52-week high of $57.14.

Miami International (NYSE:MIAX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The business had revenue of $387.63 million for the quarter. During the same period in the previous year, the firm earned $0.48 EPS. The company’s revenue was up 34.8% on a year-over-year basis. On average, equities analysts forecast that Miami International Holdings, Inc. will post 1.69 EPS 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.