BlackRock Inc. Purchases New Stake in Miami International Holdings, Inc. $MIAX

BlackRock Inc. purchased a new position in Miami International Holdings, Inc. (NYSE:MIAX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,071,754 shares of the company’s stock, valued at approximately $188,466,000. BlackRock Inc. owned approximately 5.34% of Miami International at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MIAX. State of Wyoming purchased a new stake in Miami International during the 4th quarter valued at about $26,000. National Bank of Canada FI purchased a new stake in Miami International during the 3rd quarter valued at about $29,000. Comerica Bank grew its position 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 purchasing an additional 937 shares during the last quarter. Fifth Third Bancorp purchased a new stake in Miami International during the 1st quarter valued at about $61,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Miami International during the 4th quarter valued at about $66,000.

Miami International Stock Down 0.4%

Miami International stock traded down $0.17 during mid-day trading on Friday, reaching $43.88. 90,366 shares of the company’s stock traded hands, compared to its average volume of 1,507,450. The company has a market cap of $4.35 billion and a price-to-earnings ratio of 56.99. The stock has a 50 day moving average of $42.15 and a two-hundred day moving average of $43.02. Miami International Holdings, Inc. has a 12-month low of $34.02 and a 12-month high of $57.14.

Miami International (NYSE:MIAX) last released its quarterly earnings results 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 company had revenue of $387.63 million for the quarter. Miami International had a net margin of 9.70% and a return on equity of 16.95%. Miami International’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 EPS. As a group, sell-side analysts forecast that Miami International Holdings, Inc. will post 1.69 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Zacks Research downgraded shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Morgan Stanley raised their price target on shares of Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miami International in a report on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Miami International presently has an average rating of “Hold” and a consensus target price of $52.00.

Insider Activity at Miami International

In other Miami International news, Director Kurt M. Eckert sold 1,063 shares of Miami International stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $45.80, for a total transaction of $48,685.40. Following the completion of the transaction, the director directly owned 149,612 shares of the company’s stock, valued at $6,852,229.60. The trade was a 0.71% decrease in their ownership of the stock. The transaction 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 Gray Teekell sold 3,000 shares of Miami International stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $45.79, for a total transaction of $137,370.00. Following the transaction, the director directly owned 72,251 shares of the company’s stock, valued at $3,308,373.29. The trade was a 3.99% 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 797,208 shares of company stock valued at $33,858,199 over the last quarter. 15.60% of the stock is currently owned by insiders.

About Miami International

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.