NewEdge Advisors LLC Grows Stake in Miami International Holdings, Inc. $MIAX

NewEdge Advisors LLC increased its holdings in Miami International Holdings, Inc. (NYSE:MIAX) by 1,646.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 681,610 shares of the company’s stock after purchasing an additional 642,585 shares during the period. NewEdge Advisors LLC owned 0.69% of Miami International worth $25,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Miami International during the second quarter valued at approximately $188,466,000. J Digital 6 LLC bought a new stake in Miami International in the 2nd quarter valued at $67,157,000. Vanguard Group Inc. purchased a new stake in Miami International in the 3rd quarter worth $55,660,000. Alyeska Investment Group L.P. purchased a new stake in Miami International in the 3rd quarter worth $50,959,000. Finally, Bank of America Corp DE bought a new position in shares of Miami International during the 2nd quarter valued at about $31,845,000.

Insider Activity at Miami International

In related news, EVP Barbara Comly sold 44,445 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $40.49, for a total value of $1,799,578.05. Following the completion of the sale, the executive vice president directly owned 839,564 shares in the company, valued at $33,993,946.36. This trade represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Judson Teekell sold 3,000 shares of Miami International stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $40.89, for a total transaction of $122,670.00. Following the transaction, the director directly owned 69,251 shares of the company’s stock, valued at $2,831,673.39. The trade was a 4.15% decrease in their ownership of the stock. 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. Insiders have sold a total of 735,448 shares of company stock worth $31,085,386 in the last ninety days. Corporate insiders own 15.60% of the company’s stock.

Analyst Upgrades and Downgrades

MIAX has been the subject of a number of research analyst reports. Rosenblatt Securities raised their price objective on Miami International from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Zacks Research downgraded Miami International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miami International in a report on Friday, August 7th. Finally, Keefe, Bruyette & Woods increased their target price on Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $51.40.

Miami International Trading Down 1.3%

MIAX opened at $42.89 on Thursday. The stock has a 50-day moving average of $43.13 and a 200 day moving average of $43.10. Miami International Holdings, Inc. has a 12 month low of $35.43 and a 12 month high of $57.14. The firm has a market cap of $4.26 billion and a P/E ratio of 55.70.

Miami International (NYSE:MIAX) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The business had revenue of $387.63 million for the quarter. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The company’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same quarter last year, the company earned $0.48 earnings per share. On average, research analysts forecast that Miami International Holdings, Inc. will post 1.7 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.