Insider Selling: Miami International (NYSE:MIAX) EVP Sells 11,000 Shares

Miami International Holdings, Inc. (NYSE:MIAX) EVP Edward Deitzel sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $42.04, for a total transaction of $462,440.00. Following the completion of the sale, the executive vice president owned 119,601 shares in the company, valued at $5,028,026.04. This represents a 8.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Edward Deitzel also recently made the following trade(s):

• On Tuesday, June 2nd, Edward Deitzel sold 11,000 shares of Miami International stock. The shares were sold at an average price of $42.16, for a total transaction of $463,760.00.
• On Monday, May 4th, Edward Deitzel sold 11,000 shares of Miami International stock. The shares were sold at an average price of $47.28, for a total value of $520,080.00.
• On Wednesday, April 8th, Edward Deitzel sold 7,572 shares of Miami International stock. The stock was sold at an average price of $42.02, for a total value of $318,175.44.

Miami International Price Performance

Shares of MIAX traded up $1.75 during trading hours on Tuesday, hitting $43.61. The stock had a trading volume of 2,183,781 shares, compared to its average volume of 1,602,494. The firm has a market capitalization of $4.14 billion and a PE ratio of 45.42. Miami International Holdings, Inc. has a 12 month low of $28.63 and a 12 month high of $57.14. The stock has a fifty day moving average price of $44.82 and a 200 day moving average price of $43.06.

Miami International (NYSE:MIAX) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $369.69 million during the quarter, compared to the consensus estimate of $122.74 million. The firm’s revenue was up 40.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. As a group, analysts anticipate that Miami International Holdings, Inc. will post 1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Miami International

Several large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC purchased a new stake in shares of Miami International in the first quarter worth $1,519,000. Bank of America Corp DE lifted its stake in shares of Miami International by 196.5% during the 1st quarter. Bank of America Corp DE now owns 900,882 shares of the company’s stock valued at $35,062,000 after buying an additional 597,021 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Miami International by 553.2% during the 1st quarter. Royal Bank of Canada now owns 10,301 shares of the company’s stock valued at $401,000 after buying an additional 8,724 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Miami International by 11.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 163,981 shares of the company’s stock worth $6,382,000 after buying an additional 17,037 shares during the period. Finally, Quantinno Capital Management LP purchased a new stake in Miami International in the 1st quarter worth $2,160,000.

Analyst Ratings Changes

MIAX has been the subject of a number of research reports. Zacks Research cut shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Rosenblatt Securities boosted their price objective on shares of Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings upgraded Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Morgan Stanley raised their target price on Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Finally, JPMorgan Chase & Co. boosted their price target on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $51.20.

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.