Miami International (NYSE:MIAX) Stock Price Down 6.9% – Should You Sell?

Miami International Holdings, Inc. (NYSE:MIAX)’s stock price fell 6.9% during trading on Tuesday . The stock traded as low as $41.48 and last traded at $41.0790. 401,260 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 1,367,763 shares. The stock had previously closed at $44.11.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MIAX. Morgan Stanley boosted their price target on shares of Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Zacks Research upgraded shares of Miami International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Rosenblatt Securities boosted their price target on shares of Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.20.

Miami International Stock Performance

The stock has a market cap of $3.59 billion and a P/E ratio of 39.44. The firm’s 50 day moving average is $46.26 and its 200 day moving average is $43.63.

Miami International (NYSE:MIAX) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $369.69 million for the quarter, compared to the consensus estimate of $122.74 million. The company’s revenue was up 40.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. As a group, analysts expect that Miami International Holdings, Inc. will post 1.53 EPS for the current fiscal year.

Insider Activity

In related news, EVP Barbara J. Comly sold 29,667 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $43.64, for a total transaction of $1,294,667.88. Following the completion of the transaction, the executive vice president owned 843,844 shares in the company, valued at $36,825,352.16. The trade was a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $47.25, for a total transaction of $2,268,000.00. Following the transaction, the executive vice president owned 396,681 shares of the company’s stock, valued at approximately $18,743,177.25. This trade represents a 10.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 735,954 shares of company stock worth $32,635,636. Insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. State of Wyoming acquired a new position in Miami International during the 4th quarter valued at approximately $26,000. National Bank of Canada FI acquired a new position in Miami International during the 3rd quarter valued at approximately $29,000. Comerica Bank increased its stake in Miami International by 295.6% during the 4th quarter. Comerica Bank now owns 1,254 shares of the company’s stock valued at $56,000 after purchasing an additional 937 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Miami International during the 4th quarter valued at approximately $66,000. Finally, Fifth Third Bancorp acquired a new position in Miami International during the 1st quarter valued at approximately $61,000.

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.