Bullseye Asset Management LLC Invests $1.19 Million in Miami International Holdings, Inc. $MIAX

Bullseye Asset Management LLC purchased a new position in shares of Miami International Holdings, Inc. (NYSE:MIAX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 26,711 shares of the company’s stock, valued at approximately $1,186,000.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Miami International by 39.5% during the fourth quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock worth $85,577,000 after acquiring an additional 545,770 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its stake in shares of Miami International by 31.6% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company’s stock worth $80,763,000 after acquiring an additional 437,395 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Miami International by 1.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,286,086 shares of the company’s stock worth $57,076,000 after acquiring an additional 20,350 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Miami International by 105.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 932,053 shares of the company’s stock valued at $40,684,000 after buying an additional 478,385 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Miami International by 0.3% in the fourth quarter. JPMorgan Chase & Co. now owns 814,340 shares of the company’s stock valued at $36,140,000 after buying an additional 2,629 shares during the last quarter.

Miami International Trading Up 4.8%

Shares of NYSE:MIAX opened at $43.24 on Friday. Miami International Holdings, Inc. has a 12-month low of $28.63 and a 12-month high of $57.14. The company has a market capitalization of $4.10 billion and a PE ratio of 45.04. The business has a 50 day moving average of $46.25 and a two-hundred day moving average of $43.73.

Miami International (NYSE:MIAX) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $369.69 million during the quarter, compared to analyst estimates of $122.74 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The company’s revenue was up 40.0% compared to the same quarter last year. Equities research analysts predict that Miami International Holdings, Inc. will post 1.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on MIAX. Weiss Ratings upgraded Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods upped their target price on Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. upped their target price on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Morgan Stanley upped their target price on Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Miami International presently has a consensus rating of “Moderate Buy” and an average price target of $51.20.

Insider Buying and Selling

In other Miami International news, CEO Thomas P. Gallagher sold 174,125 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $43.36, for a total value of $7,550,060.00. Following the completion of the transaction, the chief executive officer directly owned 1,723,275 shares of the company’s stock, valued at approximately $74,721,204. The trade was a 9.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Barbara J. Comly sold 29,667 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $43.64, for a total value of $1,294,667.88. Following the completion of the transaction, the executive vice president directly owned 843,844 shares of the company’s stock, valued at $36,825,352.16. The trade was a 3.40% 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. Insiders sold a total of 821,871 shares of company stock valued at $36,021,919 in the last three months. 15.60% of the stock is currently owned by company insiders.

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.