Miami International (NYSE:MIAX) EVP Sells $1,362,800.00 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Douglas Schafer, Jr. sold 40,000 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $34.07, for a total transaction of $1,362,800.00. Following the completion of the transaction, the executive vice president directly owned 387,414 shares of the company’s stock, valued at approximately $13,199,194.98. The trade was a 9.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Trading Down 1.3%

Shares of MIAX traded down $0.46 during mid-day trading on Thursday, reaching $34.51. 1,103,931 shares of the stock traded hands, compared to its average volume of 1,567,046. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 12.78 and a beta of 1.73. Miami International Holdings, Inc. has a 1 year low of $29.06 and a 1 year high of $57.14. The firm has a fifty day moving average price of $35.93 and a 200 day moving average price of $41.20.

Miami International (NYSE:MIAX) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The company had revenue of $376.18 million for the quarter. Miami International had a return on equity of 19.06% and a net margin of 19.75%. The company’s quarterly revenue was up 243.6% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. On average, sell-side analysts anticipate that Miami International Holdings, Inc. will post 1.76 EPS for the current year.

Hedge Funds Weigh In On Miami International

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Miami International in the 2nd quarter worth $188,466,000. J Digital 6 LLC bought a new stake in Miami International in the second quarter worth $67,157,000. Allspring Global Investments Holdings LLC boosted its position in Miami International by 19.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,112,261 shares of the company’s stock valued at $43,790,000 after buying an additional 180,208 shares during the period. Bank of America Corp DE boosted its position in Miami International by 196.5% during the first quarter. Bank of America Corp DE now owns 900,882 shares of the company’s stock valued at $35,062,000 after buying an additional 597,021 shares during the period. Finally, NewEdge Advisors LLC grew its stake in shares of Miami International by 1,646.6% during the second quarter. NewEdge Advisors LLC now owns 681,610 shares of the company’s stock valued at $25,329,000 after buying an additional 642,585 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MIAX. Zacks Research downgraded Miami International from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 26th. Keefe, Bruyette & Woods upped their price objective on shares of Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, August 7th. Rosenblatt Securities lowered their target price on shares of Miami International from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, October 27th. Weiss Ratings downgraded shares of Miami International from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. Finally, Morgan Stanley dropped their target price on shares of Miami International from $50.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, October 9th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.00.

About Miami International

Miami International Holdings, Inc (NYSE: MIAX) is a financial exchange operator that owns and manages regulated marketplaces for the trading of options and other securities. Through its exchange platforms, the company provides electronic trading, order matching, market data and related services to brokers, market makers, institutional investors and other market participants.

The company operates the MIAX exchange family, which includes MIAX, MIAX Pearl and MIAX Emerald, as well as related equities and options trading venues.