Miami International (NYSE:MIAX) EVP Sells $409,906.04 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Harish Jayabalan sold 10,217 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $40.12, for a total value of $409,906.04. Following the sale, the executive vice president directly owned 73,405 shares of the company’s stock, valued at $2,945,008.60. This represents a 12.22% decrease in their ownership of the stock. The sale 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.

Harish Jayabalan also recently made the following trade(s):

• On Tuesday, June 9th, Harish Jayabalan sold 9,783 shares of Miami International stock. The shares were sold at an average price of $40.04, for a total value of $391,711.32.

Miami International Stock Performance

NYSE MIAX traded up $0.95 on Wednesday, reaching $40.75. 1,995,430 shares of the stock traded hands, compared to its average volume of 1,348,539. The company has a fifty day moving average price of $46.06 and a 200-day moving average price of $43.77. The company has a market cap of $3.87 billion and a price-to-earnings ratio of 42.44. 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 for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 40.0% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. As a group, research analysts anticipate that Miami International Holdings, Inc. will post 1.53 earnings per share for the current fiscal year.

Institutional Trading of Miami International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mad River Investors raised its holdings in Miami International by 0.6% in the 4th quarter. Mad River Investors now owns 75,050 shares of the company’s stock worth $3,331,000 after purchasing an additional 450 shares during the period. State of Wyoming purchased a new stake in shares of Miami International in the fourth quarter valued at approximately $26,000. National Bank of Canada FI acquired a new position in Miami International in the third quarter valued at approximately $29,000. First Trust Advisors LP lifted its holdings in Miami International by 3.5% in the fourth quarter. First Trust Advisors LP now owns 21,671 shares of the company’s stock valued at $962,000 after acquiring an additional 733 shares during the last quarter. Finally, Coastal Bridge Advisors LLC lifted its stake in Miami International by 1.1% during the fourth quarter. Coastal Bridge Advisors LLC now owns 77,415 shares of the company’s stock worth $3,436,000 after purchasing an additional 850 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MIAX shares. JPMorgan Chase & Co. lifted their price target on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Morgan Stanley lifted their price target on Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Rosenblatt Securities lifted their price target on Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods lifted their price target on Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, May 8th. Finally, Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.20.

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.