Penn Capital Management Company LLC Invests $11.22 Million in Miami International Holdings, Inc. $MIAX

Penn Capital Management Company LLC bought a new position in shares of Miami International Holdings, Inc. (NYSE:MIAX) during the 4th quarter, Holdings Channel.com reports. The fund bought 252,125 shares of the company’s stock, valued at approximately $11,216,000.

Several other hedge funds also recently made changes to their positions in the business. Mad River Investors increased its holdings in shares of Miami International by 0.6% during the fourth quarter. Mad River Investors now owns 75,050 shares of the company’s stock worth $3,331,000 after purchasing an additional 450 shares during the period. National Bank of Canada FI bought a new position in shares of Miami International during the third quarter worth approximately $29,000. Comerica Bank increased its holdings in shares of Miami International by 295.6% during the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after purchasing an additional 937 shares during the period. HighTower Advisors LLC increased its holdings in shares of Miami International by 19.3% during the fourth quarter. HighTower Advisors LLC now owns 6,172 shares of the company’s stock worth $274,000 after purchasing an additional 997 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Miami International during the fourth quarter worth approximately $105,000.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MIAX shares. Weiss Ratings upgraded shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Rosenblatt Securities increased their price target on shares of Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their price target on shares of Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Zacks Research upgraded shares of Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Finally, Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.20.

Miami International Trading Down 4.1%

NYSE MIAX opened at $49.30 on Wednesday. The firm has a market capitalization of $4.68 billion and a price-to-earnings ratio of 51.35. The firm’s 50 day simple moving average is $45.21 and its 200 day simple moving average is $44.11. Miami International Holdings, Inc. has a 1 year low of $28.63 and a 1 year high of $57.14.

Miami International (NYSE:MIAX) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $369.69 million for the quarter, compared to analyst estimates of $122.74 million. The business’s revenue was up 40.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. On average, equities research analysts forecast that Miami International Holdings, Inc. will post 1.53 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Lance Emmons sold 35,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $56.36, for a total value of $1,972,600.00. Following the completion of the transaction, the chief financial officer owned 84,262 shares of the company’s stock, valued at $4,749,006.32. This represents a 29.35% decrease in their position. The sale was disclosed in a document filed 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, Director Murray Stahl sold 121,054 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $40.92, for a total transaction of $4,953,529.68. Following the completion of the transaction, the director directly owned 4,689,466 shares of the company’s stock, valued at approximately $191,892,948.72. The trade was a 2.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 722,175 shares of company stock worth $31,648,266 over the last 90 days.

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.