Miami International (NYSE:MIAX) CEO Thomas Gallagher Sells 70,000 Shares

Miami International Holdings, Inc. (NYSE:MIAX) CEO Thomas Gallagher sold 70,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $42.36, for a total value of $2,965,200.00. Following the transaction, the chief executive officer directly owned 1,723,275 shares in the company, valued at approximately $72,997,929. This represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Trading Down 1.5%

Shares of NYSE MIAX traded down $0.60 during trading hours on Thursday, hitting $39.73. 1,614,484 shares of the company traded hands, compared to its average volume of 1,325,189. The stock has a market capitalization of $3.77 billion and a price-to-earnings ratio of 41.38. The company’s 50 day moving average price is $45.98 and its 200 day moving average price is $43.97. 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 released its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $369.69 million for the quarter, compared to the consensus estimate of $122.74 million. The business’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. Equities analysts anticipate that Miami International Holdings, Inc. will post 1.53 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on MIAX. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Zacks Research upgraded Miami International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Rosenblatt Securities boosted their price objective on Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Weiss Ratings upgraded Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Keefe, Bruyette & Woods boosted their price objective on Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.20.

Institutional Investors Weigh In On Miami International

Several hedge funds have recently made changes to their positions in MIAX. Caprock Group LLC purchased a new stake in shares of Miami International in the 3rd quarter worth $376,000. JPMorgan Chase & Co. purchased a new stake in shares of Miami International during the 3rd quarter worth $32,679,000. Texas Yale Capital Corp. purchased a new stake in shares of Miami International during the 3rd quarter worth $201,000. Vanguard Group Inc. purchased a new stake in shares of Miami International during the 3rd quarter worth $55,660,000. Finally, Readystate Asset Management LP purchased a new stake in shares of Miami International during the 3rd quarter worth $503,000.

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.