Maltese Capital Management LLC Lowers Holdings in Miami International Holdings, Inc. $MIAX

Maltese Capital Management LLC decreased its stake in Miami International Holdings, Inc. (NYSE:MIAX) by 75.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 38,675 shares of the company’s stock after selling 121,325 shares during the quarter. Maltese Capital Management LLC’s holdings in Miami International were worth $1,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Mad River Investors boosted its stake in shares of Miami International by 0.6% in the fourth quarter. Mad River Investors now owns 75,050 shares of the company’s stock worth $3,331,000 after buying an additional 450 shares during the last quarter. State of Wyoming purchased a new stake in shares of Miami International in the fourth quarter worth about $26,000. National Bank of Canada FI purchased a new stake in shares of Miami International in the third quarter worth about $29,000. First Trust Advisors LP boosted its stake in shares of Miami International by 3.5% in the fourth quarter. First Trust Advisors LP now owns 21,671 shares of the company’s stock worth $962,000 after buying an additional 733 shares during the last quarter. Finally, Comerica Bank boosted its stake 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 buying an additional 937 shares during the last quarter.

Insider Buying and Selling at Miami International

In other Miami International news, Director Kurt M. Eckert sold 37,917 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $5,552,625. This represents a 21.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas P. Gallagher sold 174,125 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $43.36, for a total value of $7,550,060.00. Following the transaction, the chief executive officer directly owned 1,723,275 shares of the company’s stock, valued at $74,721,204. The trade was a 9.18% 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 ninety days, insiders have sold 773,871 shares of company stock valued at $34,114,399. 15.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MIAX shares. Zacks Research upgraded Miami International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods upped their price target on Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, May 8th. Morgan Stanley upped their price target on Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Rosenblatt Securities upped their price target on Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Miami International presently has a consensus rating of “Moderate Buy” and an average price target of $51.20.

Miami International Trading Up 1.6%

NYSE MIAX opened at $44.00 on Tuesday. The stock has a market capitalization of $4.18 billion and a price-to-earnings ratio of 45.84. Miami International Holdings, Inc. has a twelve month low of $28.63 and a twelve month high of $57.14. The stock has a 50-day moving average of $46.33 and a 200 day moving average of $43.72.

Miami International (NYSE:MIAX) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $369.69 million during the quarter, compared to analyst estimates of $122.74 million. The business’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. Equities analysts predict that Miami International Holdings, Inc. will post 1.53 EPS for the current fiscal year.

Miami International 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.