Lido Advisors LLC Makes New $6.79 Million Investment in Miami International Holdings, Inc. $MIAX

Lido Advisors LLC acquired a new position in shares of Miami International Holdings, Inc. (NYSE:MIAX) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 202,733 shares of the company’s stock, valued at approximately $6,792,000.

A number of other hedge funds have also bought and sold shares of MIAX. BlackRock Inc. bought a new position in Miami International during the second quarter valued at $188,466,000. J Digital 6 LLC bought a new stake in shares of Miami International in the 2nd quarter worth about $67,157,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Miami International by 19.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,112,261 shares of the company’s stock worth $43,790,000 after acquiring an additional 180,208 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Miami International by 196.5% in the 1st quarter. Bank of America Corp DE now owns 900,882 shares of the company’s stock worth $35,062,000 after acquiring an additional 597,021 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Miami International by 1,646.6% during the 2nd quarter. NewEdge Advisors LLC now owns 681,610 shares of the company’s stock worth $25,329,000 after purchasing an additional 642,585 shares during the period.

Miami International Stock Down 2.0%

Shares of Miami International stock opened at $36.11 on Friday. The stock’s fifty day moving average is $35.07 and its two-hundred day moving average is $40.96. The company has a market capitalization of $3.61 billion, a PE ratio of 13.37 and a beta of 1.73. Miami International Holdings, Inc. has a 52 week low of $29.06 and a 52 week high of $57.14.

Miami International (NYSE:MIAX) last released its earnings results on Thursday, October 29th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.09. Miami International had a return on equity of 19.06% and a net margin of 19.75%. The business had revenue of $376.18 million during the quarter. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 243.6% compared to the same quarter last year. As a group, research analysts anticipate that Miami International Holdings, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MIAX shares. Zacks Research downgraded shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Monday, October 26th. Keefe, Bruyette & Woods increased their price objective on shares of Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, August 7th. Rosenblatt Securities decreased their price objective on shares of Miami International from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Finally, Weiss Ratings lowered Miami International from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, October 28th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $49.00.

Insider Activity at Miami International

In related news, EVP Barbara J. Comly sold 56,022 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $35.07, for a total value of $1,964,691.54. Following the transaction, the executive vice president owned 839,564 shares of the company’s stock, valued at $29,443,509.48. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $40.48, for a total value of $1,943,040.00. Following the completion of the transaction, the executive vice president directly owned 387,414 shares in the company, valued at approximately $15,682,518.72. This trade represents a 11.02% 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. In the last three months, insiders have sold 517,574 shares of company stock valued at $20,002,691. Company insiders own 15.60% of the company’s stock.

Miami International Profile

Miami International Holdings, Inc. (MIAX) operates financial exchanges and provides trading technology and related services. Its U.S. platforms include options exchanges and an equities exchange, serving market participants such as broker-dealers, institutional investors and trading firms. The company also operates MIAX Futures, which offers futures and options contracts, and owns the Bermuda Stock Exchange. Its businesses serve U.S. markets as well as participants in Bermuda and other international markets.