Miami International (NYSE:MIAX) EVP Sells 48,000 Shares of Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Douglas Schafer, Jr. sold 48,000 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $40.48, for a total value of $1,943,040.00. Following the sale, the executive vice president owned 387,414 shares in the company, valued at $15,682,518.72. The trade was a 11.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Trading Down 0.5%

Shares of Miami International stock traded down $0.21 during trading on Friday, reaching $42.50. The company’s stock had a trading volume of 804,726 shares, compared to its average volume of 1,519,371. The stock has a 50-day moving average price of $42.72 and a two-hundred day moving average price of $43.05. Miami International Holdings, Inc. has a one year low of $34.02 and a one year high of $57.14. The stock has a market capitalization of $4.22 billion and a P/E ratio of 55.20.

Miami International (NYSE:MIAX) last issued its quarterly earnings data 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 for the quarter. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The firm’s revenue was up 34.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. As a group, sell-side analysts anticipate that Miami International Holdings, Inc. will post 1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Miami International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new position in Miami International during the fourth quarter worth about $8,477,000. Vanguard Group Inc. raised its position in shares of Miami International by 39.5% during 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 during the period. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of Miami International during the second quarter worth about $8,313,249. Arrowstreet Capital Limited Partnership bought a new position in shares of Miami International during the 1st quarter valued at about $5,834,000. Finally, Renaissance Technologies LLC grew its position in shares of Miami International by 39.2% in the 1st quarter. Renaissance Technologies LLC now owns 271,500 shares of the company’s stock valued at $10,567,000 after purchasing an additional 76,401 shares during the period.

Analyst Upgrades and Downgrades

MIAX has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Miami International in a report on Friday, August 7th. JPMorgan Chase & Co. boosted their target price on Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Rosenblatt Securities upped their price target on Miami International from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Finally, Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Miami International has a consensus rating of “Hold” and an average price target of $51.40.

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.