Focus Partners Advisor Solutions LLC Acquires Shares of 136,736 Miami International Holdings, Inc. $MIAX

Focus Partners Advisor Solutions LLC bought a new position in shares of Miami International Holdings, Inc. (NYSE:MIAX) during the 2nd quarter, HoldingsChannel reports. The fund bought 136,736 shares of the company’s stock, valued at approximately $5,081,000.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. acquired a new position in Miami International in the third quarter valued at about $55,660,000. Alyeska Investment Group L.P. acquired a new stake in Miami International during the third quarter worth about $50,959,000. Invesco Ltd. grew its stake in Miami International by 178.8% during the fourth quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock worth $56,761,000 after buying an additional 820,246 shares in the last quarter. Bank of America Corp DE increased its holdings in Miami International by 196.5% in the 1st quarter. Bank of America Corp DE now owns 900,882 shares of the company’s stock valued at $35,062,000 after buying an additional 597,021 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased 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 valued at $134,282,000 after buying an additional 595,096 shares during the period.

Insider Activity at Miami International

In other Miami International news, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $42.84, for a total value of $2,056,320.00. Following the sale, the executive vice president owned 396,681 shares in the company, valued at $16,993,814.04. This trade represents a 10.79% decrease in their ownership of the stock. The sale was disclosed in a 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 business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $45.69, for a total transaction of $2,030,692.05. Following the sale, the executive vice president directly owned 882,984 shares in the company, valued at approximately $40,343,538.96. The trade was a 4.79% 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. Insiders sold a total of 647,508 shares of company stock valued at $27,701,038 in the last quarter. Insiders own 15.60% of the company’s stock.

Miami International Trading Down 0.7%

Shares of NYSE MIAX opened at $43.60 on Friday. The company has a market cap of $4.33 billion and a price-to-earnings ratio of 56.62. Miami International Holdings, Inc. has a 12 month low of $28.99 and a 12 month high of $57.14. The stock has a 50-day moving average price of $41.73 and a two-hundred day moving average price of $42.94.

Miami International (NYSE:MIAX) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The company 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 revenue for the quarter was up 34.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 earnings per share. On average, sell-side analysts predict that Miami International Holdings, Inc. will post 1.69 earnings per share for the current year.

Analysts Set New Price Targets

MIAX has been the subject of a number of recent analyst reports. Rosenblatt Securities upped their price target on shares of Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price objective on shares of Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Miami International from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Miami International in a research note on Friday, August 7th. Finally, Zacks Research downgraded Miami International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.