Insider Selling: Miami International (NYSE:MIAX) EVP Sells 40,000 Shares of Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Douglas Schafer, Jr. sold 40,000 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $33.34, for a total value of $1,333,600.00. Following the sale, the executive vice president owned 387,414 shares in the company, valued at approximately $12,916,382.76. This represents a 9.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Stock Down 10.1%

Shares of Miami International stock traded down $3.48 on Tuesday, reaching $30.84. The company’s stock had a trading volume of 4,753,355 shares, compared to its average volume of 1,554,406. Miami International Holdings, Inc. has a 52 week low of $30.69 and a 52 week high of $57.14. The firm’s fifty day simple moving average is $41.20 and its two-hundred day simple moving average is $42.62. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 40.06 and a beta of 1.79.

Miami International (NYSE:MIAX) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The company had revenue of $387.63 million during the quarter. During the same quarter in the previous year, the business posted $0.48 earnings per share. Miami International’s quarterly revenue was up 34.8% compared to the same quarter last year. As a group, research analysts predict that Miami International Holdings, Inc. will post 1.71 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MIAX. BlackRock Inc. purchased a new position in shares of Miami International in the second quarter valued at about $188,466,000. Horizon Kinetics Asset Management LLC grew its position in shares of Miami International by 31.6% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company’s stock worth $80,763,000 after purchasing an additional 437,395 shares in the last quarter. J Digital 6 LLC purchased a new stake in shares of Miami International during the second quarter worth about $67,157,000. Allspring Global Investments Holdings LLC raised its stake in Miami International by 19.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,112,261 shares of the company’s stock valued at $43,790,000 after purchasing an additional 180,208 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Miami International by 196.5% in the 1st quarter. Bank of America Corp DE now owns 900,882 shares of the company’s stock worth $35,062,000 after purchasing an additional 597,021 shares in the last quarter.

Wall Street Analysts Forecast Growth

MIAX has been the subject of a number of research reports. Zacks Research upgraded Miami International from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 25th. Rosenblatt Securities reissued a “buy” rating and issued a $62.00 target price on shares of Miami International in a research report on Friday. Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Keefe, Bruyette & Woods upped their price target on shares of Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, August 7th. Finally, Morgan Stanley cut shares of Miami International from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $53.00 to $50.00 in a research note on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Miami International currently has a consensus rating of “Moderate Buy” and an average target price of $51.40.

About Miami International

Miami International Holdings, Inc operates financial markets and exchange platforms through its MIAX Exchange Group. The company provides electronic trading venues, market data, and related technology for options and other securities, with an emphasis on high-performance execution and competitive market structure.

Its U.S. exchange portfolio includes the MIAX, MIAX Pearl, MIAX Emerald, and MIAX Sapphire options exchanges, as well as MIAX Pearl Equities. These venues support trading in listed options and equities and are designed to serve market makers, institutional investors, broker-dealers, and other market participants.

Miami International Holdings was founded in 2007, and its flagship MIAX options exchange began operations in 2012.