JPMorgan Chase & Co. Takes Position in Miami International Holdings, Inc. $MIAX

JPMorgan Chase & Co. purchased a new position in shares of Miami International Holdings, Inc. (NYSE:MIAX) in the 3rd quarter, Holdings Channel reports. The fund purchased 811,711 shares of the company’s stock, valued at approximately $32,679,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. acquired a new position in Miami International during the 3rd quarter valued at about $55,660,000. Alyeska Investment Group L.P. bought a new position in Miami International in the 3rd quarter worth about $50,959,000. North Reef Capital Management LP acquired a new stake in shares of Miami International in the third quarter valued at approximately $29,221,000. Caldwell Investment Management Ltd. bought a new stake in shares of Miami International during the third quarter valued at approximately $27,056,000. Finally, Wellington Management Group LLP bought a new stake in shares of Miami International during the third quarter valued at approximately $23,476,000.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Zacks Research cut Miami International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Rosenblatt Securities reiterated a “buy” rating and set a $59.00 price target on shares of Miami International in a research report on Thursday, March 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Miami International in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Miami International from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.00.

Miami International Price Performance

Miami International stock opened at $39.17 on Monday. Miami International Holdings, Inc. has a 12-month low of $28.63 and a 12-month high of $51.38. The stock has a market capitalization of $3.59 billion and a PE ratio of 72.54. The firm has a 50 day simple moving average of $41.34 and a 200-day simple moving average of $42.63.

Miami International (NYSE:MIAX) last released its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.11. The firm had revenue of $369.43 million during the quarter, compared to analyst estimates of $121.13 million. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year.

Insider Transactions at Miami International

In related news, EVP Douglas M. Schafer, Jr. sold 48,000 shares of Miami International stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $39.74, for a total transaction of $1,907,520.00. Following the transaction, the executive vice president directly owned 396,681 shares of the company’s stock, valued at $15,764,102.94. The trade was a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kurt M. Eckert sold 37,917 shares of Miami International stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $39.00, for a total value of $1,478,763.00. Following the transaction, the director directly owned 142,375 shares in the company, valued at approximately $5,552,625. The trade was a 21.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 206,971 shares of company stock valued at $8,339,813.

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.