Horizon Kinetics Asset Management LLC Increases Holdings in Miami International Holdings, Inc. $MIAX

Horizon Kinetics Asset Management LLC lifted its stake in Miami International Holdings, Inc. (NYSE:MIAX) by 31.6% in the 4th quarter, HoldingsChannel reports. The firm owned 1,819,798 shares of the company’s stock after acquiring an additional 437,395 shares during the period. Miami International makes up 1.1% of Horizon Kinetics Asset Management LLC’s portfolio, making the stock its 15th largest holding. Horizon Kinetics Asset Management LLC’s holdings in Miami International were worth $80,763,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Wyoming purchased a new stake in shares of Miami International in the 4th quarter worth $26,000. National Bank of Canada FI purchased a new stake in shares of Miami International in the 3rd quarter worth $29,000. Comerica Bank increased its stake in shares of Miami International by 295.6% in the 4th quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after purchasing an additional 937 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Miami International in the 4th quarter worth $105,000. Finally, Strs Ohio purchased a new stake in shares of Miami International in the 4th quarter worth $186,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MIAX shares. Weiss Ratings upgraded Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Morgan Stanley increased their price target on Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Keefe, Bruyette & Woods increased their price target on Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, May 8th. Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Zacks Research upgraded Miami International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.

Miami International Stock Up 2.8%

Shares of Miami International stock opened at $39.81 on Wednesday. The firm has a market cap of $3.78 billion and a price-to-earnings ratio of 41.47. The business has a 50-day moving average price of $46.06 and a 200-day moving average price of $43.77. Miami International Holdings, Inc. has a twelve month low of $28.63 and a twelve month high of $57.14.

Miami International (NYSE:MIAX) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $369.69 million for the quarter, compared to analysts’ expectations of $122.74 million. The company’s revenue for the quarter was up 40.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. On average, equities analysts expect that Miami International Holdings, Inc. will post 1.53 EPS for the current fiscal year.

Insider Activity

In other news, Director Kurt M. Eckert sold 37,917 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $39.00, for a total transaction of $1,478,763.00. Following the completion of the transaction, the director owned 142,375 shares in the company, valued at $5,552,625. This trade represents a 21.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Lance Emmons sold 35,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $56.36, for a total value of $1,972,600.00. Following the transaction, the chief financial officer owned 84,262 shares of the company’s stock, valued at approximately $4,749,006.32. The trade was a 29.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 782,371 shares of company stock valued at $34,406,566. 15.60% of the stock is owned by corporate insiders.

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.