Insider Selling: Miami International (NYSE:MIAX) CFO Sells $1,972,600.00 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) CFO Lance Emmons sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $56.36, for a total value of $1,972,600.00. Following the transaction, the chief financial officer owned 84,262 shares of the company’s stock, valued at approximately $4,749,006.32. This trade represents a 29.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Stock Down 2.6%

Shares of MIAX stock opened at $51.91 on Thursday. Miami International Holdings, Inc. has a 12 month low of $28.63 and a 12 month high of $57.14. The firm has a market cap of $4.93 billion and a PE ratio of 54.07. The stock has a 50 day moving average of $44.28 and a 200-day moving average of $43.94.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MIAX. Vanguard Group Inc. increased its stake in shares of Miami International by 39.5% in the fourth quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock valued at $85,577,000 after buying an additional 545,770 shares in the last quarter. Coastal Bridge Advisors LLC acquired a new stake in shares of Miami International in the third quarter valued at $3,083,000. Federated Hermes Inc. acquired a new stake in shares of Miami International in the third quarter valued at $10,065,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Miami International in the third quarter valued at $1,033,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Miami International in the third quarter valued at $12,168,000.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Rosenblatt Securities upped their price target on Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings upgraded Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Zacks Research upgraded Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Miami International presently has an average rating of “Moderate Buy” and a consensus target price of $51.20.

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.