Insider Selling: Miami International (NYSE:MIAX) EVP Sells 48,000 Shares of Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Douglas Schafer, Jr. sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $47.25, for a total transaction of $2,268,000.00. Following the completion of the sale, the executive vice president directly owned 396,681 shares in the company, valued at approximately $18,743,177.25. This trade represents a 10.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Trading Up 1.6%

NYSE:MIAX traded up $0.76 during mid-day trading on Tuesday, hitting $48.07. The stock had a trading volume of 1,035,198 shares, compared to its average volume of 1,267,720. The stock has a 50-day simple moving average of $41.61 and a two-hundred day simple moving average of $43.13. The company has a market capitalization of $4.56 billion and a PE ratio of 89.03. Miami International Holdings, Inc. has a twelve month low of $28.63 and a twelve month high of $51.38.

Miami International (NYSE:MIAX) last issued its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.11. The firm had revenue of $369.43 million during the quarter, compared to analyst estimates of $121.13 million. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. Sell-side analysts predict that Miami International Holdings, Inc. will post 1.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on MIAX. Rosenblatt Securities reiterated a “buy” rating and issued a $59.00 price target on shares of Miami International in a research note on Tuesday, April 7th. Zacks Research upgraded shares of Miami International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods began coverage on shares of Miami International in a research note on Wednesday, April 8th. They issued a “market perform” rating and a $40.00 price target on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Miami International in a research note on Friday, March 27th. Finally, Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.60.

Hedge Funds Weigh In On Miami International

A number of institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. increased its holdings in shares of Miami International by 24.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company’s stock valued at $134,282,000 after acquiring an additional 595,096 shares during the period. Vanguard Group Inc. increased its holdings in shares of Miami International by 39.5% in the 4th quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock valued at $85,577,000 after acquiring an additional 545,770 shares during the period. Horizon Kinetics Asset Management LLC increased its holdings in shares of Miami International by 31.6% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company’s stock valued at $80,763,000 after acquiring an additional 437,395 shares during the period. Alyeska Investment Group L.P. increased its holdings in shares of Miami International by 1.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,286,086 shares of the company’s stock valued at $57,076,000 after acquiring an additional 20,350 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Miami International by 178.8% in the 4th quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock valued at $56,761,000 after acquiring an additional 820,246 shares during the period.

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.