Shelly Brown Sells 900 Shares of Miami International (NYSE:MIAX) Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Shelly Brown sold 900 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $42.00, for a total value of $37,800.00. Following the transaction, the executive vice president owned 324,147 shares of the company’s stock, valued at $13,614,174. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 6th, Shelly Brown sold 2,357 shares of Miami International stock. The stock was sold at an average price of $41.33, for a total transaction of $97,414.81.
• On Monday, March 23rd, Shelly Brown sold 25,932 shares of Miami International stock. The shares were sold at an average price of $39.33, for a total transaction of $1,019,905.56.

Miami International Stock Performance

Shares of NYSE:MIAX traded up $0.88 on Wednesday, reaching $42.20. The company’s stock had a trading volume of 1,065,474 shares, compared to its average volume of 1,353,842. Miami International Holdings, Inc. has a 52-week low of $28.63 and a 52-week high of $51.38. The company has a market cap of $3.87 billion and a P/E ratio of 78.15. The company has a 50-day simple moving average of $40.48 and a 200 day simple moving average of $42.80.

Miami International (NYSE:MIAX) last announced its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.11. The business had revenue of $369.43 million for the quarter, compared to analysts’ expectations of $121.13 million. The business’s revenue for the quarter was up 14.0% on a year-over-year basis.

Analyst Upgrades and Downgrades

MIAX has been the topic of a number of recent research reports. Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Keefe, Bruyette & Woods started coverage on Miami International in a report on Wednesday. They issued a “market perform” rating and a $40.00 target price for the company. Weiss Ratings restated a “sell (d+)” rating on shares of Miami International in a report on Friday, March 27th. Zacks Research downgraded Miami International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $59.00 price objective on shares of Miami International in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Miami International presently has a consensus rating of “Hold” and a consensus target price of $47.20.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Miami International during the 3rd quarter worth approximately $17,684,000. Coastal Bridge Advisors LLC bought a new position in Miami International in the 3rd quarter valued at $3,083,000. Victory Capital Management Inc. purchased a new stake in Miami International in the third quarter worth $12,168,000. Federated Hermes Inc. bought a new stake in shares of Miami International during the third quarter worth $10,065,000. Finally, Pekin Hardy Strauss Inc. bought a new stake in shares of Miami International during the third quarter worth $1,033,000.

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.