Insider Selling: Miami International (NYSE:MIAX) EVP Sells $842,400.00 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Harish Jayabalan sold 20,000 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $42.12, for a total transaction of $842,400.00. Following the completion of the sale, the executive vice president directly owned 78,065 shares in the company, valued at $3,288,097.80. This represents a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $409,906.04.
• On Tuesday, June 9th, Harish Jayabalan sold 9,783 shares of Miami International stock. The shares were sold at an average price of $40.04, for a total transaction of $391,711.32.

Miami International Stock Performance

Shares of MIAX stock traded up $1.75 during trading hours on Tuesday, hitting $43.61. 2,183,781 shares of the company were exchanged, compared to its average volume of 1,602,494. The stock has a market capitalization of $4.14 billion and a price-to-earnings ratio of 45.42. Miami International Holdings, Inc. has a one year low of $28.63 and a one year high of $57.14. The business’s 50-day simple moving average is $44.82 and its two-hundred day simple moving average is $43.06.

Miami International (NYSE:MIAX) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $369.69 million during the quarter, compared to the consensus estimate of $122.74 million. During the same period in the prior 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, analysts anticipate that Miami International Holdings, Inc. will post 1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Miami International

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. bought a new stake in Miami International in the 3rd quarter valued at about $55,660,000. Victory Capital Management Inc. acquired a new stake in shares of Miami International in the third quarter valued at approximately $12,168,000. First Trust Advisors LP acquired a new stake in shares of Miami International in the third quarter valued at approximately $843,000. Blair William & Co. IL acquired a new position in shares of Miami International during the third quarter worth approximately $14,645,000. Finally, Legal & General Group Plc bought a new position in Miami International in the 3rd quarter worth approximately $302,000.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley raised their price objective on Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Rosenblatt Securities increased their target price on shares of Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings raised shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on shares of Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.20.

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.