Tocqueville Asset Management L.P. Buys Shares of 338,225 Miami International Holdings, Inc. $MIAX

Tocqueville Asset Management L.P. purchased a new position in Miami International Holdings, Inc. (NYSE:MIAX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 338,225 shares of the company’s stock, valued at approximately $12,568,000.

Several other institutional investors and hedge funds have also made changes to their positions in MIAX. Mad River Investors boosted its stake in shares of Miami International by 0.6% during the fourth quarter. Mad River Investors now owns 75,050 shares of the company’s stock valued at $3,331,000 after acquiring an additional 450 shares during the last quarter. State of Wyoming acquired a new position in Miami International in the 4th quarter valued at about $26,000. National Bank of Canada FI acquired a new position in Miami International in the 3rd quarter valued at about $29,000. First Trust Advisors LP lifted its holdings in Miami International by 3.5% in the 4th quarter. First Trust Advisors LP now owns 21,671 shares of the company’s stock valued at $962,000 after purchasing an additional 733 shares in the last quarter. Finally, Coastal Bridge Advisors LLC lifted its holdings in Miami International by 1.1% in the 4th quarter. Coastal Bridge Advisors LLC now owns 77,415 shares of the company’s stock valued at $3,436,000 after purchasing an additional 850 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Miami International in a research note on Friday, August 7th. Rosenblatt Securities raised their target price on shares of Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Zacks Research cut shares of Miami International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $52.00.

Insider Activity at Miami International

In related news, Director Kurt M. Eckert sold 1,063 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $45.80, for a total value of $48,685.40. Following the transaction, the director directly owned 149,612 shares of the company’s stock, valued at approximately $6,852,229.60. This trade represents a 0.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Edward Deitzel sold 11,000 shares of Miami International stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $45.78, for a total value of $503,580.00. Following the completion of the transaction, the executive vice president owned 119,601 shares in the company, valued at $5,475,333.78. The trade was a 8.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 647,508 shares of company stock worth $27,701,038. 15.60% of the stock is owned by corporate insiders.

Miami International Price Performance

Shares of MIAX stock opened at $40.55 on Thursday. The firm’s 50-day simple moving average is $41.84 and its 200-day simple moving average is $42.95. Miami International Holdings, Inc. has a 1-year low of $31.60 and a 1-year high of $57.14. The firm has a market cap of $4.02 billion and a P/E ratio of 52.66.

Miami International (NYSE:MIAX) last released its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Miami International’s revenue for the quarter was up 34.8% compared to the same quarter last year. Analysts expect that Miami International Holdings, Inc. will post 1.69 earnings per share 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.