Miami International (NYSE:MIAX) Share Price Crosses Above 50-Day Moving Average – Should You Sell?

Miami International Holdings, Inc. (NYSE:MIAX) shares crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $35.26 and traded as high as $35.88. Miami International shares last traded at $35.7290, with a volume of 775,858 shares.

Analyst Ratings Changes

Several analysts have commented on the company. Rosenblatt Securities reduced their price objective on Miami International from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Weiss Ratings downgraded Miami International from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. Morgan Stanley dropped their target price on Miami International from $50.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, October 9th. Zacks Research cut Miami International from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 26th. Finally, Keefe, Bruyette & Woods upped their price target on Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Miami International presently has an average rating of “Hold” and a consensus target price of $49.00.

Miami International Stock Up 1.7%

The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 13.23 and a beta of 1.73. The stock has a fifty day moving average price of $35.26 and a two-hundred day moving average price of $41.02.

Miami International (NYSE:MIAX) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The business had revenue of $376.18 million for the quarter. Miami International had a return on equity of 19.06% and a net margin of 19.75%. The firm’s revenue was up 243.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. As a group, research analysts forecast that Miami International Holdings, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Transactions at Miami International

In other news, EVP Edward Deitzel sold 11,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $42.21, for a total transaction of $464,310.00. Following the sale, the executive vice president owned 119,601 shares in the company, valued at $5,048,358.21. This trade represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 47,000 shares of Miami International stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $42.43, for a total value of $1,994,210.00. Following the completion of the sale, the chief executive officer directly owned 1,423,275 shares of the company’s stock, valued at approximately $60,389,558.25. This represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 517,574 shares of company stock worth $20,002,691 in the last three months. 15.60% of the stock is currently owned by company insiders.

Institutional Trading of Miami International

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Miami International in the 2nd quarter valued at about $188,466,000. J Digital 6 LLC acquired a new position in shares of Miami International during the 2nd quarter valued at about $67,157,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 worth $43,790,000 after acquiring an additional 180,208 shares during the period. Bank of America Corp DE lifted its holdings 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 worth $35,062,000 after acquiring an additional 597,021 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of Miami International by 1,646.6% during the 2nd quarter. NewEdge Advisors LLC now owns 681,610 shares of the company’s stock worth $25,329,000 after acquiring an additional 642,585 shares during the period.

Miami International Company Profile

Miami International Holdings, Inc. (MIAX) operates financial exchanges and provides trading technology and related services. Its U.S. platforms include options exchanges and an equities exchange, serving market participants such as broker-dealers, institutional investors and trading firms. The company also operates MIAX Futures, which offers futures and options contracts, and owns the Bermuda Stock Exchange. Its businesses serve U.S. markets as well as participants in Bermuda and other international markets.