Grandeur Peak Global Advisors LLC Purchases New Stake in Miami International Holdings, Inc. $MIAX

Grandeur Peak Global Advisors LLC 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 19,018 shares of the company’s stock, valued at approximately $707,000.

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 Performance

Shares of Miami International stock traded down $0.17 on Friday, hitting $43.88. 90,366 shares of the company traded hands, compared to its average volume of 1,507,450. The stock has a market capitalization of $4.35 billion and a P/E ratio of 56.99. Miami International Holdings, Inc. has a 52 week low of $34.02 and a 52 week high of $57.14. The business has a 50-day simple moving average of $42.15 and a 200 day simple moving average of $43.02.

Miami International (NYSE:MIAX) last released its quarterly earnings data 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. The firm 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%. The company’s quarterly revenue was up 34.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. Research analysts expect 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. Keefe, Bruyette & Woods raised their price target on shares of Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Rosenblatt Securities raised their price target on shares of Miami International from $61.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 6th. 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. 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 equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Miami International presently has an average rating of “Hold” and a consensus price target of $52.00.

Insider Activity

In related news, Director Kurt M. Eckert sold 1,063 shares of the company’s 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 sale, the director owned 149,612 shares of the company’s stock, valued at $6,852,229.60. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harish Jayabalan sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $45.90, for a total transaction of $918,000.00. Following the sale, the executive vice president directly owned 78,065 shares in the company, valued at approximately $3,583,183.50. The trade was a 20.39% 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 90 days, insiders have sold 797,208 shares of company stock valued at $33,858,199. Company insiders own 15.60% of the company’s stock.

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.