Miami International (NYSE:MIAX) EVP Sells $391,711.32 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Harish Jayabalan sold 9,783 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $40.04, for a total value of $391,711.32. Following the completion of the transaction, the executive vice president directly owned 73,405 shares in the company, valued at $2,939,136.20. This trade represents a 11.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 Monday, June 8th, Harish Jayabalan sold 10,217 shares of Miami International stock. The stock was sold at an average price of $40.12, for a total value of $409,906.04.

Miami International Trading Up 4.8%

Shares of MIAX opened at $43.24 on Friday. The firm has a market capitalization of $4.10 billion and a P/E ratio of 45.04. The stock’s fifty day simple moving average is $46.25 and its 200 day simple moving average is $43.73. Miami International Holdings, Inc. has a twelve month low of $28.63 and a twelve month high of $57.14.

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

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MIAX shares. JPMorgan Chase & Co. increased 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. Zacks Research raised Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. 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. Rosenblatt Securities raised their price objective on Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently 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.