Insider Selling: Miami International (NYSE:MIAX) EVP Sells 11,000 Shares of Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Edward Deitzel sold 11,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $42.16, for a total transaction of $463,760.00. Following the sale, the executive vice president directly owned 116,221 shares in the company, valued at $4,899,877.36. This trade represents a 8.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Edward Deitzel also recently made the following trade(s):

• On Monday, May 4th, Edward Deitzel sold 11,000 shares of Miami International stock. The shares were sold at an average price of $47.28, for a total transaction of $520,080.00.
• On Wednesday, April 8th, Edward Deitzel sold 7,572 shares of Miami International stock. The shares were sold at an average price of $42.02, for a total transaction of $318,175.44.
• On Tuesday, April 7th, Edward Deitzel sold 4,763 shares of Miami International stock. The shares were sold at an average price of $42.00, for a total transaction of $200,046.00.

Miami International Stock Down 1.5%

Shares of MIAX traded down $0.60 during trading hours on Thursday, reaching $39.73. 1,614,484 shares of the company traded hands, compared to its average volume of 1,325,189. The stock has a market capitalization of $3.77 billion and a P/E ratio of 41.38. The business has a fifty day moving average price of $45.98 and a 200-day moving average price of $43.97. 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 posted its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $369.69 million for the quarter, compared to analyst estimates of $122.74 million. The company’s revenue for the quarter was up 40.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. As a group, research analysts predict that Miami International Holdings, Inc. will post 1.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on MIAX shares. Morgan Stanley boosted their target price on shares of Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Zacks Research upgraded shares of Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Weiss Ratings upgraded shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their target price on shares of Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods lifted their price objective 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 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MIAX. State of Wyoming purchased a new position in Miami International in the fourth quarter valued at $26,000. National Bank of Canada FI purchased a new position in Miami International in the third quarter valued at $29,000. Comerica Bank increased its holdings in 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. Fifth Third Bancorp purchased a new position in Miami International in the first quarter valued at $61,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Miami International in the fourth quarter valued at $66,000.

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.