Wellington Management Group LLP Lowers Holdings in Miami International Holdings, Inc. $MIAX

Wellington Management Group LLP cut its stake in shares of Miami International Holdings, Inc. (NYSE:MIAX) by 41.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 262,170 shares of the company’s stock after selling 182,681 shares during the quarter. Wellington Management Group LLP’s holdings in Miami International were worth $9,742,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. State of Wyoming bought a new position in Miami International in the 4th quarter worth about $26,000. National Bank of Canada FI purchased a new position in Miami International in the third quarter worth about $29,000. Comerica Bank raised its holdings in 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 buying an additional 937 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of Miami International in the first quarter worth approximately $61,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Miami International during the fourth quarter valued at approximately $66,000.

Miami International Trading Up 2.4%

NYSE:MIAX opened at $43.41 on Wednesday. The company has a market cap of $4.31 billion and a PE ratio of 56.38. The company has a 50 day simple moving average of $43.05 and a two-hundred day simple moving average of $43.09. Miami International Holdings, Inc. has a 12 month low of $35.43 and a 12 month high of $57.14.

Miami International (NYSE:MIAX) last issued its quarterly earnings data 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. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The firm had revenue of $387.63 million for the quarter. During the same quarter last year, the company earned $0.48 EPS. Miami International’s revenue for the quarter was up 34.8% on a year-over-year basis. Research analysts forecast that Miami International Holdings, Inc. will post 1.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MIAX shares. Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Rosenblatt Securities lifted their target price on Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley downgraded Miami International from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $53.00 to $50.00 in a report on Tuesday, September 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miami International in a research report on Friday, August 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $51.40.

Insider Activity at Miami International

In other Miami International news, EVP Douglas Schafer, Jr. sold 48,000 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $41.22, for a total transaction of $1,978,560.00. Following the completion of the sale, the executive vice president owned 387,414 shares of the company’s stock, valued at approximately $15,969,205.08. The trade was a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Barbara Comly sold 44,445 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $45.69, for a total value of $2,030,692.05. Following the completion of the sale, the executive vice president owned 882,984 shares of the company’s stock, 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. Over the last three months, insiders have sold 754,948 shares of company stock worth $31,899,121. Corporate 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.