Renaissance Technologies LLC Raises Position in Miami International Holdings, Inc. $MIAX

Renaissance Technologies LLC lifted its position in Miami International Holdings, Inc. (NYSE:MIAX) by 39.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 271,500 shares of the company’s stock after acquiring an additional 76,401 shares during the period. Renaissance Technologies LLC’s holdings in Miami International were worth $10,567,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MIAX. State of Wyoming purchased a new position in Miami International in the 4th quarter worth approximately $26,000. National Bank of Canada FI purchased a new stake in Miami International during the 3rd quarter valued at $29,000. Comerica Bank increased its holdings in shares of Miami International by 295.6% in the 4th quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after purchasing an additional 937 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Miami International in the 1st quarter worth $61,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Miami International in the fourth quarter worth $66,000.

Insider Activity

In related news, EVP Edward Deitzel sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $42.04, for a total transaction of $462,440.00. Following the completion of the sale, the executive vice president directly owned 119,601 shares in the company, valued at approximately $5,028,026.04. The trade was a 8.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 that occurred on Monday, July 13th. The shares were sold at an average price of $41.98, for a total transaction of $1,175,440.00. Following the sale, the executive vice president directly owned 882,984 shares of the company’s stock, valued at approximately $37,067,668.32. This represents a 3.07% 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. Over the last ninety days, insiders have sold 720,854 shares of company stock worth $31,679,840. Company insiders own 15.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MIAX. Keefe, Bruyette & Woods increased their price objective 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. Weiss Ratings upgraded shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Morgan Stanley raised their price target on shares of Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, July 10th. JPMorgan Chase & Co. lifted their price target on shares of Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Rosenblatt Securities boosted their price objective on shares of Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a 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 data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.80.

Miami International Price Performance

Shares of MIAX opened at $47.09 on Friday. The firm has a market capitalization of $4.47 billion and a P/E ratio of 49.06. Miami International Holdings, Inc. has a one year low of $28.63 and a one year high of $57.14. The business has a fifty day moving average of $41.92 and a 200 day moving average of $42.84.

Miami International (NYSE:MIAX) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $369.69 million during the quarter, compared to the consensus estimate of $122.74 million. The firm’s revenue was up 40.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. Analysts expect that Miami International Holdings, Inc. will post 1.59 EPS for the current fiscal year.

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.