North Reef Capital Management LP trimmed its stake in shares of Miami International Holdings, Inc. (NYSE:MIAX – Free Report) by 19.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,014,274 shares of the company’s stock after selling 250,726 shares during the period. Miami International comprises about 1.4% of North Reef Capital Management LP’s holdings, making the stock its 17th biggest holding. North Reef Capital Management LP’s holdings in Miami International were worth $39,476,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. State of Wyoming purchased a new position in Miami International in the 4th quarter worth about $26,000. National Bank of Canada FI purchased a new stake in Miami International during the third quarter valued at about $29,000. Comerica Bank boosted its holdings 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 period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Miami International in the fourth quarter worth about $66,000. Finally, Fifth Third Bancorp purchased a new position in shares of Miami International in the first quarter worth approximately $61,000.
Miami International Price Performance
Shares of Miami International stock opened at $42.78 on Friday. The firm has a market cap of $4.06 billion and a price-to-earnings ratio of 44.56. Miami International Holdings, Inc. has a 52-week low of $28.63 and a 52-week high of $57.14. The stock has a 50-day simple moving average of $42.59 and a 200-day simple moving average of $42.76.
Analyst Ratings Changes
A number of research firms have recently issued reports on MIAX. Weiss Ratings upgraded shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Morgan Stanley lifted their price objective on shares of Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. boosted their target price on shares of Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Rosenblatt Securities raised their target price on Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.80.
View Our Latest Stock Report on MIAX
Insider Activity at Miami International
In other news, EVP Edward Deitzel sold 11,000 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $42.04, for a total transaction of $462,440.00. Following the transaction, the executive vice president owned 119,601 shares of the company’s stock, valued at approximately $5,028,026.04. This represents a 8.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harish Jayabalan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $42.12, for a total value of $842,400.00. Following the completion of the transaction, the executive vice president directly owned 78,065 shares in the company, valued at $3,288,097.80. The trade was a 20.39% 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. Insiders have sold a total of 720,854 shares of company stock worth $31,679,840 in the last 90 days. Insiders own 15.60% of the company’s stock.
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.
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