The Manufacturers Life Insurance Company Increases Stock Position in Miami International Holdings, Inc. $MIAX

The Manufacturers Life Insurance Company grew its stake in Miami International Holdings, Inc. (NYSE:MIAX) by 11.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,981 shares of the company’s stock after buying an additional 17,037 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.17% of Miami International worth $6,382,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. bought a new position in Miami International in the third quarter valued at $55,660,000. Alyeska Investment Group L.P. purchased a new position in shares of Miami International in the 3rd quarter worth about $50,959,000. Invesco Ltd. boosted its holdings in shares of Miami International by 178.8% in the 4th quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock worth $56,761,000 after purchasing an additional 820,246 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Miami International by 24.5% during 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 purchasing an additional 595,096 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Miami International during the 3rd quarter valued at about $23,476,000.

Insiders Place Their Bets

In related news, CEO Thomas P. Gallagher sold 70,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $42.36, for a total value of $2,965,200.00. Following the transaction, the chief executive officer owned 1,723,275 shares of the company’s stock, valued at approximately $72,997,929. This trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a 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 business’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 transaction of $2,056,320.00. Following the sale, the executive vice president owned 396,681 shares of the company’s stock, valued at $16,993,814.04. This trade represents a 10.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 555,000 shares of company stock valued at $23,841,231. Company insiders own 15.60% of the company’s stock.

Miami International Stock Performance

Shares of MIAX stock opened at $45.87 on Thursday. Miami International Holdings, Inc. has a fifty-two week low of $28.63 and a fifty-two week high of $57.14. The company has a market capitalization of $4.35 billion and a P/E ratio of 47.78. The stock has a 50 day moving average price of $41.66 and a two-hundred day moving average price of $42.92.

Miami International (NYSE:MIAX) last issued its earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. The firm had revenue of $387.63 million during the quarter. The firm’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 earnings per share. As a group, equities analysts predict that Miami International Holdings, Inc. will post 1.59 earnings per share for the current year.

Analyst Ratings Changes

MIAX has been the subject of several research reports. Weiss Ratings raised Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Rosenblatt Securities increased their target price on shares of Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. lifted their target price on shares of Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Zacks Research downgraded shares of Miami International from a “strong-buy” rating to a “hold” rating in a research note 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $51.80.

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.