The Manufacturers Life Insurance Company Makes New Investment in Miami International Holdings, Inc. $MIAX

The Manufacturers Life Insurance Company bought a new stake in Miami International Holdings, Inc. (NYSE:MIAX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 177,273 shares of the company’s stock, valued at approximately $6,587,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Miami International in the 2nd quarter worth about $188,466,000. T. Rowe Price Investment Management Inc. increased its holdings in Miami International by 24.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company’s stock valued at $134,282,000 after acquiring an additional 595,096 shares in the last quarter. Vanguard Group Inc. raised its position in Miami International by 39.5% during the fourth quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock worth $85,577,000 after acquiring an additional 545,770 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its holdings in shares of Miami International by 31.6% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company’s stock valued at $80,763,000 after purchasing an additional 437,395 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its position in shares of Miami International by 1.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,286,086 shares of the company’s stock valued at $57,076,000 after purchasing an additional 20,350 shares during the last quarter.

Miami International Stock Performance

Shares of MIAX opened at $43.07 on Monday. Miami International Holdings, Inc. has a 1 year low of $34.02 and a 1 year high of $57.14. The company’s 50 day simple moving average is $42.26 and its 200 day simple moving average is $43.03. The company has a market capitalization of $4.27 billion and a price-to-earnings ratio of 55.94.

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

Insider Buying and Selling at Miami International

In related news, EVP Harish Jayabalan sold 20,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $45.90, for a total transaction of $918,000.00. Following the transaction, the executive vice president directly owned 78,065 shares in the company, valued at approximately $3,583,183.50. This represents a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 149,700 shares of the firm’s 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 completion of the sale, the chief executive officer directly owned 1,423,275 shares in the company, valued at approximately $58,539,300.75. The trade was a 9.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders have sold 797,208 shares of company stock valued at $33,858,199. 15.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MIAX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Miami International in a research note on Friday, August 7th. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Morgan Stanley raised 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 boosted their price target on Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods upped their price objective 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. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $52.00.

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.