HighTower Advisors LLC Has $4.17 Million Holdings in Miami International Holdings, Inc. $MIAX

HighTower Advisors LLC grew its holdings in Miami International Holdings, Inc. (NYSE:MIAX) by 290.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 112,298 shares of the company’s stock after purchasing an additional 83,547 shares during the quarter. HighTower Advisors LLC’s holdings in Miami International were worth $4,173,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MIAX. Northwestern Mutual Wealth Management Co. acquired a new position in Miami International in the second quarter valued at approximately $5,618,000. BNP Paribas Financial Markets acquired a new stake in Miami International during the 4th quarter worth $8,477,000. Philadelphia Financial Management of San Francisco LLC acquired a new stake in Miami International during the 2nd quarter worth $8,313,249. Arrowstreet Capital Limited Partnership bought a new stake in shares of Miami International during the 1st quarter valued at $5,834,000. Finally, Renaissance Technologies LLC raised its position in shares of Miami International by 39.2% during the 1st quarter. Renaissance Technologies LLC now owns 271,500 shares of the company’s stock valued at $10,567,000 after acquiring an additional 76,401 shares during the last quarter.

Insider Buying and Selling at Miami International

In other news, CEO Thomas P. Gallagher sold 149,700 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $41.13, for a total transaction of $6,157,161.00. Following the completion of the sale, the chief executive officer owned 1,423,275 shares of the company’s stock, valued at $58,539,300.75. This represents a 9.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $41.22, for a total transaction of $1,978,560.00. Following the sale, the executive vice president owned 387,414 shares in the company, valued at approximately $15,969,205.08. The trade was a 11.02% decrease in their ownership of the stock. 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 735,448 shares of company stock valued at $31,085,386. 15.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MIAX. Morgan Stanley downgraded Miami International from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $53.00 to $50.00 in a research note on Tuesday, September 1st. Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Keefe, Bruyette & Woods upped their price objective on Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, August 7th. Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Rosenblatt Securities raised their target price on Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Miami International presently has an average rating of “Hold” and an average target price of $51.40.

Miami International Price Performance

NYSE MIAX opened at $41.55 on Friday. The firm has a market cap of $4.12 billion and a P/E ratio of 53.97. The stock’s 50-day moving average is $43.18 and its 200-day moving average is $43.11. Miami International Holdings, Inc. has a one year low of $35.43 and a one year high of $57.14.

Miami International (NYSE:MIAX) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The business had revenue of $387.63 million during the quarter. During the same quarter in the prior 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. Equities analysts anticipate that Miami International Holdings, Inc. will post 1.7 EPS for the current year.

Miami International Company Profile

Miami International Holdings, Inc (NYSE: MIAX) operates a global exchange group focused on financial markets and trading infrastructure. Its business includes the MIAX Exchange Group, which operates electronic options and equities exchanges serving institutional, professional and other market participants.

The company’s exchange platforms include MIAX, MIAX Pearl and MIAX Emerald for listed options, as well as MIAX Sapphire for equities. Miami International Holdings also provides exchange-related services such as market data, connectivity and trading technology designed to support efficient order execution and liquidity across its marketplaces.

Founded in 2007, the company has expanded beyond its U.S.