Entropy Technologies LP Takes $1.56 Million Position in Miami International Holdings, Inc. $MIAX

Entropy Technologies LP acquired a new stake in Miami International Holdings, Inc. (NYSE:MIAX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 40,076 shares of the company’s stock, valued at approximately $1,560,000.

Several other hedge funds have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund grew its position in Miami International by 2.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 240,000 shares of the company’s stock valued at $9,341,000 after acquiring an additional 5,756 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Miami International by 39.2% during the first quarter. Renaissance Technologies LLC now owns 271,500 shares of the company’s stock worth $10,567,000 after purchasing an additional 76,401 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Miami International in the first quarter valued at approximately $5,834,000. Sei Investments Co. boosted its stake in shares of Miami International by 54.7% in the first quarter. Sei Investments Co. now owns 526,363 shares of the company’s stock valued at $20,486,000 after purchasing an additional 186,108 shares during the period. Finally, Walleye Capital LLC grew its holdings in shares of Miami International by 307.1% in the first quarter. Walleye Capital LLC now owns 38,522 shares of the company’s stock valued at $1,499,000 after purchasing an additional 29,059 shares in the last quarter.

Insider Activity at Miami International

In related news, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $47.25, for a total transaction of $2,268,000.00. Following the sale, the executive vice president owned 396,681 shares of the company’s stock, valued at approximately $18,743,177.25. The trade was a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Barbara J. Comly sold 28,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $42.85, for a total transaction of $1,199,800.00. Following the transaction, the executive vice president owned 843,844 shares in the company, valued at $36,158,715.40. The trade was a 3.21% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 720,854 shares of company stock valued at $31,679,840. Company insiders own 15.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their target price on shares of Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, May 8th. Rosenblatt Securities boosted their price target on shares of Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley upped their price objective on Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Weiss Ratings upgraded Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.80.

Miami International Stock Performance

Shares of NYSE:MIAX opened at $43.50 on Tuesday. Miami International Holdings, Inc. has a one year low of $28.63 and a one year high of $57.14. The stock has a market capitalization of $4.13 billion and a price-to-earnings ratio of 45.31. The company has a 50-day simple moving average of $42.37 and a 200-day simple moving average of $42.73.

Miami International (NYSE:MIAX) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $369.69 million for the quarter, compared to analysts’ expectations of $122.74 million. During the same period in the prior year, the company earned $0.38 earnings per share. The firm’s revenue was up 40.0% on a year-over-year basis. As a group, research analysts forecast that Miami International Holdings, Inc. will post 1.58 EPS for the current fiscal year.

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.