Renaissance Technologies LLC Purchases 76,401 Shares of Miami International Holdings, Inc. $MIAX

Renaissance Technologies LLC boosted its position in Miami International Holdings, Inc. (NYSE:MIAX) by 39.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 271,500 shares of the company’s stock after acquiring an additional 76,401 shares during the period. Renaissance Technologies LLC owned 0.29% of Miami International worth $10,567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Wyoming bought a new stake in shares of Miami International in the fourth quarter worth about $26,000. National Bank of Canada FI bought a new position in Miami International during the 3rd quarter valued at approximately $29,000. Comerica Bank lifted its holdings in 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 buying an additional 937 shares during the period. Fifth Third Bancorp bought a new stake in shares of Miami International in the 1st quarter worth approximately $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Miami International in the 4th quarter worth approximately $66,000.

Miami International Trading Up 2.4%

Shares of MIAX stock opened at $47.09 on Friday. The company’s fifty day moving average price is $41.92 and its 200-day moving average price is $42.84. The stock has a market cap of $4.47 billion and a PE ratio of 49.06. Miami International Holdings, Inc. has a 12 month low of $28.63 and a 12 month high of $57.14.

Miami International (NYSE:MIAX) last issued 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 business had revenue of $369.69 million during the quarter, compared to the consensus estimate of $122.74 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The firm’s revenue was up 40.0% compared to the same quarter last year. On average, sell-side analysts forecast that Miami International Holdings, Inc. will post 1.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MIAX has been the subject of a number of research analyst reports. Weiss Ratings raised Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Rosenblatt Securities upped their price objective on shares of Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods raised 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 report on Friday, May 8th. Zacks Research cut shares of Miami International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Finally, Morgan Stanley increased their price target on shares of Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Miami International has a consensus rating of “Hold” and a consensus target price of $51.80.

Insiders Place Their Bets

In other news, EVP Shelly Brown sold 16,000 shares of Miami International stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $42.13, for a total transaction of $674,080.00. Following the completion of the transaction, the executive vice president directly owned 353,990 shares in the company, valued at approximately $14,913,598.70. This trade represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $42.52, for a total value of $2,976,400.00. Following the completion of the sale, the chief executive officer directly owned 1,723,275 shares in the company, valued at approximately $73,273,653. This represents a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 720,854 shares of company stock valued at $31,679,840. Insiders own 15.60% of the company’s stock.

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.