Thomas Gallagher Sells 28,228 Shares of Miami International (NYSE:MIAX) Stock

Miami International Holdings, Inc. (NYSE:MIAX) CEO Thomas Gallagher sold 28,228 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $42.27, for a total value of $1,193,197.56. Following the completion of the sale, the chief executive officer owned 1,723,275 shares of the company’s stock, valued at $72,842,834.25. This trade represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Trading Up 4.2%

Miami International stock traded up $1.75 during trading on Tuesday, reaching $43.61. The company had a trading volume of 2,183,785 shares, compared to its average volume of 1,602,494. The firm has a market capitalization of $4.14 billion and a price-to-earnings ratio of 45.42. The firm’s 50-day simple moving average is $44.82 and its 200 day simple moving average is $43.06. Miami International Holdings, Inc. has a 52 week low of $28.63 and a 52 week high of $57.14.

Miami International (NYSE:MIAX) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 EPS. On average, analysts predict that Miami International Holdings, Inc. will post 1.53 earnings per share for the current year.

Institutional Trading of Miami International

Several hedge funds and other institutional investors have recently bought and sold shares of MIAX. BNP Paribas Financial Markets purchased a new stake in shares of Miami International during the 4th quarter worth $8,477,000. Vanguard Group Inc. raised its holdings in Miami International by 39.5% in the fourth quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock worth $85,577,000 after purchasing an additional 545,770 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Miami International during the third quarter valued at about $1,833,000. Victory Capital Management Inc. purchased a new stake in shares of Miami International during the third quarter valued at about $12,168,000. Finally, Seven Grand Managers LLC boosted its holdings in shares of Miami International by 33.3% in the 4th quarter. Seven Grand Managers LLC now owns 400,000 shares of the company’s stock valued at $17,752,000 after buying an additional 100,000 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their price target on Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Zacks Research downgraded Miami International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. 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 research note on Thursday, May 7th. Keefe, Bruyette & Woods increased their target price on shares of Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Miami International has an average rating of “Hold” and a consensus target price of $51.20.

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.