Insider Selling: Miami International (NYSE:MIAX) EVP Sells 20,000 Shares

Miami International Holdings, Inc. (NYSE:MIAX) EVP Harish Jayabalan sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $45.90, for a total transaction of $918,000.00. Following the sale, the executive vice president directly owned 78,065 shares of the company’s stock, valued at approximately $3,583,183.50. This represents a 20.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Harish Jayabalan also recently made the following trade(s):

• On Monday, July 6th, Harish Jayabalan sold 20,000 shares of Miami International stock. The stock was sold at an average price of $42.12, for a total value of $842,400.00.
• On Monday, June 8th, Harish Jayabalan sold 10,217 shares of Miami International stock. The shares were sold at an average price of $40.12, for a total transaction of $409,906.04.
• On Tuesday, June 9th, Harish Jayabalan sold 9,783 shares of Miami International stock. The stock was sold at an average price of $40.04, for a total transaction of $391,711.32.

Miami International Stock Down 1.3%

MIAX stock traded down $0.58 during mid-day trading on Thursday, hitting $45.38. The company had a trading volume of 1,947,036 shares, compared to its average volume of 1,552,097. The company has a market capitalization of $4.31 billion and a price-to-earnings ratio of 47.27. The company has a 50-day moving average price of $41.66 and a 200 day moving average price of $42.92. 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 posted its earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $387.63 million during the quarter. The company’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 EPS. As a group, analysts expect that Miami International Holdings, Inc. will post 1.59 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MIAX shares. Zacks Research lowered shares of Miami International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Morgan Stanley increased their price target on shares of Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods boosted their price objective on Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their target price on Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.00.

Hedge Funds Weigh In On Miami International

Several hedge funds have recently bought and sold shares of the business. State of Wyoming bought a new stake in shares of Miami International during the fourth quarter worth $26,000. National Bank of Canada FI bought a new stake in Miami International during the 3rd quarter valued at about $29,000. Comerica Bank lifted its holdings in Miami International by 295.6% during the 4th quarter. Comerica Bank now owns 1,254 shares of the company’s stock valued at $56,000 after buying an additional 937 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of Miami International during the first quarter worth approximately $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Miami International during the fourth quarter valued at approximately $66,000.

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.