Lance Emmons Sells 35,000 Shares of Miami International (NYSE:MIAX) Stock

Miami International Holdings, Inc. (NYSE:MIAX) CFO Lance Emmons sold 35,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $56.36, for a total value of $1,972,600.00. Following the transaction, the chief financial officer directly owned 84,262 shares of the company’s stock, valued at approximately $4,749,006.32. This trade represents a 29.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Trading Down 2.0%

Shares of MIAX stock opened at $53.43 on Wednesday. The company has a market cap of $5.07 billion and a price-to-earnings ratio of 55.66. The stock has a 50 day simple moving average of $44.06 and a 200-day simple moving average of $43.89. Miami International Holdings, Inc. has a 12-month low of $28.63 and a 12-month high of $57.14.

Miami International (NYSE:MIAX) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $369.69 million for the quarter, compared to analysts’ expectations of $122.74 million. The business’s quarterly revenue was up 40.0% on a year-over-year basis. During the same period last year, the company posted $0.38 earnings per share. On average, equities analysts forecast that Miami International Holdings, Inc. will post 1.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MIAX. Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a research note on Sunday. Keefe, Bruyette & Woods increased their target price on Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, May 8th. Rosenblatt Securities increased their target price on Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. increased their target price on Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley upped their price target on Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Miami International presently has an average rating of “Moderate Buy” and an average target price of $51.20.

Institutional Investors Weigh In On Miami International

A number of institutional investors and hedge funds have recently modified their holdings of MIAX. State of Wyoming acquired a new stake in shares of Miami International in the 4th quarter worth approximately $26,000. National Bank of Canada FI acquired a new stake in shares of Miami International in the 3rd quarter worth approximately $29,000. Comerica Bank grew its holdings in shares of Miami International by 295.6% in the 4th quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after acquiring an additional 937 shares during the period. Fifth Third Bancorp acquired a new stake in shares of Miami International in the 1st quarter worth approximately $61,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Miami International in the 4th quarter worth approximately $66,000.

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.