Insider Selling: Miami International (NYSE:MIAX) EVP Sells 10,217 Shares of Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Harish Jayabalan sold 10,217 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $40.12, for a total value of $409,906.04. Following the completion of the sale, the executive vice president owned 73,405 shares of the company’s stock, valued at approximately $2,945,008.60. The trade was a 12.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Harish Jayabalan also recently made the following trade(s):

• On Tuesday, June 9th, Harish Jayabalan sold 9,783 shares of Miami International stock. The stock was sold at an average price of $40.04, for a total value of $391,711.32.

Miami International Price Performance

Shares of NYSE:MIAX traded up $0.95 during trading on Wednesday, hitting $40.75. 1,995,430 shares of the company’s stock were exchanged, compared to its average volume of 1,348,539. Miami International Holdings, Inc. has a 52-week low of $28.63 and a 52-week high of $57.14. The business’s 50-day simple moving average is $46.06 and its 200 day simple moving average is $43.77. The company has a market cap of $3.87 billion and a price-to-earnings ratio of 42.44.

Miami International (NYSE:MIAX) last released its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $369.69 million for the quarter, compared to analysts’ expectations of $122.74 million. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue for the quarter was up 40.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Miami International Holdings, Inc. will post 1.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Miami International

Several institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC bought a new stake in shares of Miami International in the 1st quarter valued at approximately $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 worth $35,062,000 after acquiring an additional 597,021 shares during 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 worth $401,000 after acquiring an additional 8,724 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Miami International by 11.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 163,981 shares of the company’s stock worth $6,382,000 after acquiring an additional 17,037 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new stake in shares of Miami International during the 1st quarter worth approximately $2,160,000.

Wall Street Analyst Weigh In

MIAX has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their target price on Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, May 8th. Morgan Stanley increased their target price on Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Weiss Ratings upgraded Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Zacks Research upgraded Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Finally, Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.