Coastal Bridge Advisors LLC Invests $6.83 Million in Miami International Holdings, Inc. $MIAX

Coastal Bridge Advisors LLC acquired a new stake in shares of Miami International Holdings, Inc. (NYSE:MIAX) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 183,761 shares of the company’s stock, valued at approximately $6,829,000. Coastal Bridge Advisors LLC owned approximately 0.19% of Miami International at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in shares of Miami International during the fourth quarter worth approximately $8,477,000. Vanguard Group Inc. boosted its holdings in shares of Miami International by 39.5% in the fourth quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock valued at $85,577,000 after purchasing an additional 545,770 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Miami International in the first quarter worth approximately $5,834,000. Philadelphia Financial Management of San Francisco LLC bought a new position in Miami International in the second quarter worth approximately $8,313,249,000. Finally, Renaissance Technologies LLC increased its holdings in Miami International by 39.2% during the 1st quarter. Renaissance Technologies LLC now owns 271,500 shares of the company’s stock worth $10,567,000 after purchasing an additional 76,401 shares during the period.

Insider Activity at Miami International

In other Miami International news, CEO Thomas P. Gallagher sold 149,700 shares of Miami International stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $41.13, for a total value of $6,157,161.00. Following the transaction, the chief executive officer owned 1,423,275 shares in the company, valued at $58,539,300.75. The trade was a 9.52% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Judson Gray Teekell sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $45.79, for a total transaction of $137,370.00. Following the completion of the transaction, the director owned 72,251 shares of the company’s stock, valued at $3,308,373.29. This represents a 3.99% 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 have sold 797,208 shares of company stock valued at $33,858,199 over the last 90 days. Company insiders own 15.60% of the company’s stock.

Miami International Stock Up 1.5%

Shares of NYSE:MIAX opened at $44.03 on Friday. The company has a market capitalization of $4.37 billion and a price-to-earnings ratio of 57.18. Miami International Holdings, Inc. has a 52 week low of $34.02 and a 52 week high of $57.14. The firm has a 50 day moving average of $42.15 and a 200 day moving average of $43.02.

Miami International (NYSE:MIAX) last announced its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The business had revenue of $387.63 million for the quarter. During the same period last year, the business posted $0.48 EPS. The firm’s revenue was up 34.8% compared to the same quarter last year. On average, sell-side analysts expect that Miami International Holdings, Inc. will post 1.69 EPS for the current year.

Wall Street Analysts Forecast Growth

MIAX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Morgan Stanley increased their price target on Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Rosenblatt Securities raised their price target on Miami International from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Finally, Zacks Research cut shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Miami International has an average rating of “Hold” and an average target price of $52.00.

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.