Walleye Capital LLC Raises Stock Position in Miami International Holdings, Inc. $MIAX

Walleye Capital LLC boosted its stake in Miami International Holdings, Inc. (NYSE:MIAX) by 307.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,522 shares of the company’s stock after purchasing an additional 29,059 shares during the period. Walleye Capital LLC’s holdings in Miami International were worth $1,499,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. State of Wyoming bought a new position in shares of Miami International during the 4th quarter valued at $26,000. National Bank of Canada FI bought a new stake in shares of Miami International in the third quarter worth $29,000. Comerica Bank grew its holdings in shares of Miami International by 295.6% in the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after acquiring an additional 937 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Miami International during the fourth quarter valued at $66,000. Finally, Fifth Third Bancorp purchased a new stake in Miami International during the first quarter valued at $61,000.

Analyst Ratings Changes

A number of research firms have weighed in on MIAX. Weiss Ratings raised Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods increased their price objective on shares of Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, May 8th. Rosenblatt Securities raised their price objective on shares of Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Morgan Stanley boosted their target price on shares of Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Finally, Wall Street Zen cut shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.80.

Insider Buying and Selling

In related news, CEO Thomas P. Gallagher sold 70,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $42.36, for a total transaction of $2,965,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,723,275 shares in the company, valued at approximately $72,997,929. The trade was a 3.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 Monday, May 4th. The stock was sold at an average price of $47.25, for a total transaction of $2,268,000.00. Following the completion of the sale, the executive vice president directly owned 396,681 shares of the company’s stock, valued at $18,743,177.25. This represents a 10.79% 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 sold 720,854 shares of company stock valued at $31,679,840 in the last 90 days. Corporate insiders own 15.60% of the company’s stock.

Miami International Stock Performance

NYSE MIAX opened at $41.67 on Friday. The company has a market capitalization of $3.95 billion and a PE ratio of 43.40. The business’s fifty day moving average is $42.86 and its 200 day moving average is $42.76. Miami International Holdings, Inc. has a fifty-two week low of $28.63 and a fifty-two week high of $57.14.

Miami International (NYSE:MIAX) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $369.69 million during the quarter, compared to analysts’ expectations of $122.74 million. The business’s quarterly revenue was up 40.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. On average, sell-side analysts forecast that Miami International Holdings, Inc. will post 1.58 EPS for the current year.

Miami International Company Profile

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.