Goodwin Investment Advisory Invests $1.04 Million in Miami International Holdings, Inc. $MIAX

Goodwin Investment Advisory purchased a new stake in Miami International Holdings, Inc. (NYSE:MIAX) in the second quarter, HoldingsChannel reports. The institutional investor purchased 28,025 shares of the company’s stock, valued at approximately $1,041,000. Miami International comprises about 2.1% of Goodwin Investment Advisory’s holdings, making the stock its 8th biggest holding.

Other large investors also recently bought and sold shares of the company. State of Wyoming acquired a new stake in shares of Miami International during the fourth quarter worth about $26,000. National Bank of Canada FI purchased a new position in Miami International during the 3rd quarter worth approximately $29,000. Comerica Bank increased its position in Miami International by 295.6% during 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 period. Fifth Third Bancorp purchased a new stake in Miami International in the first quarter valued at approximately $61,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Miami International in the fourth quarter valued at approximately $66,000.

Miami International Price Performance

Miami International stock opened at $43.07 on Friday. The business has a 50 day simple moving average of $42.26 and a 200-day simple moving average of $43.02. Miami International Holdings, Inc. has a 12 month low of $34.02 and a 12 month high of $57.14. The stock has a market capitalization of $4.27 billion and a PE ratio of 55.94.

Miami International (NYSE:MIAX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $387.63 million for the quarter. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The business’s quarterly revenue was up 34.8% on a year-over-year basis. During the same quarter last year, the business earned $0.48 earnings per share. As a group, equities research analysts anticipate that Miami International Holdings, Inc. will post 1.69 EPS for the current year.

Insider Buying and Selling

In related news, EVP Barbara J. Comly sold 44,445 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were 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 in the company, valued at $40,343,538.96. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harish Jayabalan sold 20,000 shares of Miami International stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $45.90, for a total value of $918,000.00. Following the completion of the sale, the executive vice president directly owned 78,065 shares in the company, valued at $3,583,183.50. This represents a 20.39% 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. In the last three months, insiders have sold 797,208 shares of company stock worth $33,858,199. 15.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MIAX has been the topic of a number of research reports. Zacks Research lowered shares of Miami International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. upped their price target on shares of Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Miami International in a research note on Friday, August 7th. Keefe, Bruyette & Woods raised their price objective on shares of Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, August 7th. Finally, Morgan Stanley lifted their price objective on shares of Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $52.00.

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.