Miami International (NYSE:MIAX) CEO Thomas Gallagher Sells 47,000 Shares of Stock

Miami International Holdings, Inc. (NYSE:MIAX) CEO Thomas Gallagher sold 47,000 shares of Miami International stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $42.43, for a total value of $1,994,210.00. Following the transaction, the chief executive officer owned 1,423,275 shares in the company, valued at approximately $60,389,558.25. The trade was a 3.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Trading Down 0.5%

NYSE:MIAX traded down $0.21 during trading hours on Friday, hitting $42.50. The company had a trading volume of 804,726 shares, compared to its average volume of 1,519,371. Miami International Holdings, Inc. has a 1 year low of $34.02 and a 1 year high of $57.14. The company has a market cap of $4.22 billion and a P/E ratio of 55.20. The company has a 50-day moving average of $42.72 and a 200 day moving average of $43.05.

Miami International (NYSE:MIAX) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. The business had revenue of $387.63 million for the quarter. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The firm’s revenue was up 34.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS. On average, analysts forecast that Miami International Holdings, Inc. will post 1.7 earnings per share for the current year.

Hedge Funds Weigh In On Miami International

A number of hedge funds have recently made changes to their positions in MIAX. State of Wyoming acquired a new stake in Miami International in the 4th quarter valued at approximately $26,000. National Bank of Canada FI purchased a new position in shares of Miami International during the third quarter worth $29,000. Comerica Bank grew its stake in shares of Miami International by 295.6% in 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 in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Miami International in the fourth quarter valued at $66,000. Finally, Fifth Third Bancorp purchased a new stake in shares of Miami International in the 1st quarter valued at $61,000.

Wall Street Analysts Forecast Growth

MIAX has been the topic of several analyst reports. Morgan Stanley lowered shares of Miami International from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $53.00 to $50.00 in a research report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Miami International in a research note on Friday, August 7th. JPMorgan Chase & Co. lifted their target price on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Rosenblatt Securities upped their price target on Miami International from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $51.40.

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.