JPMorgan Chase & Co. Invests $32.68 Million in Miami International Holdings, Inc. $MIAX

JPMorgan Chase & Co. purchased a new position in Miami International Holdings, Inc. (NYSE:MIAX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 811,711 shares of the company’s stock, valued at approximately $32,679,000. JPMorgan Chase & Co. owned approximately 1.00% of Miami International as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of MIAX. Allspring Global Investments Holdings LLC purchased a new stake in Miami International during the 3rd quarter worth approximately $17,684,000. Caldwell Investment Management Ltd. purchased a new position in shares of Miami International during the 3rd quarter valued at approximately $27,056,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Miami International during the third quarter worth approximately $101,000. Atlas Wealth Partners LLC bought a new stake in shares of Miami International in the third quarter worth $881,000. Finally, Federated Hermes Inc. bought a new stake in shares of Miami International in the third quarter worth $10,065,000.

Insider Transactions at Miami International

In other news, Director Kurt M. Eckert sold 37,917 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $39.00, for a total value of $1,478,763.00. Following the transaction, the director directly owned 142,375 shares in the company, valued at approximately $5,552,625. This trade represents a 21.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of Miami International stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $39.74, for a total value of $1,907,520.00. Following the completion of the transaction, the executive vice president owned 396,681 shares of the company’s stock, valued at approximately $15,764,102.94. The trade was a 10.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 206,971 shares of company stock worth $8,339,813.

Wall Street Analyst Weigh In

A number of research firms have commented on MIAX. Wall Street Zen upgraded shares of Miami International from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Miami International in a research report on Monday, December 29th. Rosenblatt Securities restated a “buy” rating and issued a $59.00 target price on shares of Miami International in a research note on Thursday, March 5th. Finally, Zacks Research downgraded Miami International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. 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 stock. Based on data from MarketBeat.com, Miami International presently has an average rating of “Hold” and an average target price of $48.00.

Miami International Trading Up 0.4%

MIAX stock opened at $39.17 on Monday. The firm has a market cap of $3.59 billion and a P/E ratio of 72.54. Miami International Holdings, Inc. has a 12-month low of $28.63 and a 12-month high of $51.38. The stock’s 50 day simple moving average is $41.34 and its 200 day simple moving average is $42.63.

Miami International (NYSE:MIAX) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.11. The business had revenue of $369.43 million during the quarter, compared to analyst estimates of $121.13 million. The firm’s revenue was up 14.0% compared to the same quarter last year.

Miami International 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.