Harvey Partners LLC Invests $2.01 Million in Miami International Holdings, Inc. $MIAX

Harvey Partners LLC acquired a new stake in Miami International Holdings, Inc. (NYSE:MIAX) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $2,013,000. Harvey Partners LLC owned about 0.06% of Miami International as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MIAX. Vanguard Group Inc. acquired a new position in Miami International in the third quarter valued at $55,660,000. JPMorgan Chase & Co. bought a new stake in Miami International during the third quarter valued at $32,679,000. Caldwell Investment Management Ltd. acquired a new stake in Miami International during the 3rd quarter worth about $27,056,000. Wellington Management Group LLP bought a new position in shares of Miami International in the 3rd quarter worth about $23,476,000. Finally, Invesco Ltd. acquired a new position in shares of Miami International in the 3rd quarter valued at about $18,468,000.

Analysts Set New Price Targets

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

Miami International Price Performance

Shares of MIAX opened at $38.46 on Monday. The stock has a 50-day moving average of $41.76 and a 200-day moving average of $42.52. The company has a market cap of $3.52 billion and a PE ratio of 71.22. Miami International Holdings, Inc. has a one year low of $28.63 and a one year high of $51.38.

Miami International (NYSE:MIAX) last posted its quarterly 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 for the quarter, compared to analyst estimates of $121.13 million. The firm’s quarterly revenue was up 14.0% on a year-over-year basis.

Insider Activity at Miami International

In other news, Director Murray Stahl acquired 7,200 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was purchased at an average price of $43.38 per share, for a total transaction of $312,336.00. Following the completion of the acquisition, the director directly owned 4,633,842 shares in the company, valued at $201,016,065.96. The trade was a 0.16% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

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.