Wellington Management Group LLP decreased its position in Miami International Holdings, Inc. (NYSE:MIAX – Free Report) by 41.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 262,170 shares of the company’s stock after selling 182,681 shares during the quarter. Wellington Management Group LLP owned approximately 0.26% of Miami International worth $9,742,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Miami International in the second quarter worth about $188,466,000. T. Rowe Price Investment Management Inc. lifted its holdings in Miami International by 24.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company’s stock worth $134,282,000 after buying an additional 595,096 shares during the period. Vanguard Group Inc. lifted its holdings in Miami International by 39.5% in the 4th quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock worth $85,577,000 after buying an additional 545,770 shares during the period. Horizon Kinetics Asset Management LLC grew its position in shares of Miami International by 31.6% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company’s stock worth $80,763,000 after buying an additional 437,395 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in shares of Miami International by 1.6% during 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 buying an additional 20,350 shares during the period.
Miami International Stock Up 2.4%
MIAX opened at $43.41 on Wednesday. Miami International Holdings, Inc. has a 52 week low of $35.43 and a 52 week high of $57.14. The stock has a market cap of $4.31 billion and a PE ratio of 56.38. The business has a 50 day moving average of $43.05 and a 200-day moving average of $43.09.
Miami International (NYSE:MIAX – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. The company 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%.Miami International’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. Equities analysts anticipate that Miami International Holdings, Inc. will post 1.7 EPS for the current year.
Insider Transactions at Miami International
In related news, EVP Edward Deitzel sold 11,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $42.21, for a total transaction of $464,310.00. Following the sale, the executive vice president owned 119,601 shares of the company’s stock, valued at $5,048,358.21. The trade was a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $40.49, for a total transaction of $1,799,578.05. Following the completion of the sale, the executive vice president owned 839,564 shares in the company, valued at approximately $33,993,946.36. This trade represents a 5.03% 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. Over the last ninety days, insiders sold 754,948 shares of company stock worth $31,899,121. 15.60% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
MIAX has been the subject of a number of recent analyst reports. Morgan Stanley downgraded Miami International from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $53.00 to $50.00 in a report on Tuesday, September 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Miami International in a research report on Friday, August 7th. Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Zacks Research cut shares of Miami International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Finally, Rosenblatt Securities boosted their price target on shares of Miami International from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Two research 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, the stock presently has an average rating of “Hold” and an average price target of $51.40.
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.
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