Insider Selling: Miami International (NYSE:MIAX) EVP Sells $674,080.00 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Shelly Brown sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $42.13, for a total transaction of $674,080.00. Following the completion of the transaction, the executive vice president directly owned 353,990 shares of the company’s stock, valued at approximately $14,913,598.70. This trade represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shelly Brown also recently made the following trade(s):

• On Tuesday, June 2nd, Shelly Brown sold 16,000 shares of Miami International stock. The shares were sold at an average price of $42.12, for a total value of $673,920.00.
• On Monday, May 4th, Shelly Brown sold 16,000 shares of Miami International stock. The stock was sold at an average price of $47.28, for a total value of $756,480.00.
• On Wednesday, April 8th, Shelly Brown sold 16,434 shares of Miami International stock. The shares were sold at an average price of $42.08, for a total transaction of $691,542.72.

Miami International Stock Performance

Miami International stock traded up $1.75 during midday trading on Tuesday, reaching $43.61. 2,183,781 shares of the stock were exchanged, compared to its average volume of 1,602,494. Miami International Holdings, Inc. has a 52 week low of $28.63 and a 52 week high of $57.14. The firm has a market cap of $4.14 billion and a PE ratio of 45.42. The company’s fifty day moving average is $44.82 and its 200-day moving average is $43.06.

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

Wall Street Analysts Forecast Growth

MIAX has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upped their target price on Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, May 8th. Morgan Stanley upped their price objective on shares of 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 shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. increased their price target on shares of Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $51.20.

Institutional Investors Weigh In On Miami International

A number of hedge funds have recently made changes to their positions in the business. State of Wyoming bought a new position in shares of Miami International during the 4th quarter valued at $26,000. National Bank of Canada FI bought a new stake in Miami International in the third quarter worth $29,000. Comerica Bank boosted its position in Miami International by 295.6% during the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock valued at $56,000 after buying an additional 937 shares during the period. Fifth Third Bancorp purchased a new stake in Miami International during the first quarter valued at about $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Miami International during the fourth quarter valued at about $66,000.

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.