Kurt Eckert Sells 5,625 Shares of Miami International (NYSE:MIAX) Stock

Miami International Holdings, Inc. (NYSE:MIAX) Director Kurt Eckert sold 5,625 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $47.29, for a total transaction of $266,006.25. Following the transaction, the director owned 142,375 shares in the company, valued at approximately $6,732,913.75. This trade represents a 3.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 on Tuesday, hitting $48.07. 1,035,198 shares of the company were exchanged, compared to its average volume of 1,267,720. The firm has a 50 day moving average of $41.61 and a two-hundred day moving average of $43.13. The company has a market cap of $4.56 billion and a P/E ratio of 89.03. Miami International Holdings, Inc. has a 1-year low of $28.63 and a 1-year high of $51.38.

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

Analyst Ratings Changes

A number of research analysts have issued reports on MIAX shares. Morgan Stanley upped their target price on shares of Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Rosenblatt Securities restated a “buy” rating and set a $59.00 target price on shares of Miami International in a research report on Tuesday, April 7th. Wall Street Zen downgraded shares of Miami International from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research upgraded shares of Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods started coverage on shares of Miami International in a research report on Wednesday, April 8th. They set a “market perform” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mad River Investors raised its holdings in Miami International by 0.6% during the 4th quarter. Mad River Investors now owns 75,050 shares of the company’s stock worth $3,331,000 after buying an additional 450 shares during the period. State of Wyoming acquired a new stake in Miami International during the 4th quarter worth approximately $26,000. National Bank of Canada FI acquired a new stake in Miami International during the 3rd quarter worth approximately $29,000. First Trust Advisors LP raised its holdings in Miami International by 3.5% during the 4th quarter. First Trust Advisors LP now owns 21,671 shares of the company’s stock worth $962,000 after buying an additional 733 shares during the period. Finally, Coastal Bridge Advisors LLC raised its holdings in Miami International by 1.1% during the 4th quarter. Coastal Bridge Advisors LLC now owns 77,415 shares of the company’s stock worth $3,436,000 after buying an additional 850 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.