Miami International (NYSE:MIAX) CEO Sells $1,193,197.56 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) CEO Thomas Gallagher sold 28,228 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $42.27, for a total value of $1,193,197.56. Following the transaction, the chief executive officer directly owned 1,723,275 shares of the company’s stock, valued at $72,842,834.25. The trade was a 1.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Stock Performance

MIAX traded up $1.75 on Tuesday, reaching $43.61. The company had a trading volume of 2,183,785 shares, compared to its average volume of 1,602,494. The business has a 50 day simple moving average of $44.82 and a 200 day simple moving average of $43.06. The company has a market cap of $4.14 billion and a price-to-earnings ratio of 45.42. Miami International Holdings, Inc. has a 52-week low of $28.63 and a 52-week high of $57.14.

Miami International (NYSE:MIAX) last posted its quarterly earnings data 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 firm had revenue of $369.69 million during the quarter, compared to analysts’ expectations of $122.74 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. Miami International’s revenue for the quarter was up 40.0% compared to the same quarter last year. As a group, equities research analysts predict that Miami International Holdings, Inc. will post 1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. bought a new stake in shares of Miami International during the 3rd quarter valued at about $55,660,000. Alyeska Investment Group L.P. bought a new position in shares of Miami International in the 3rd quarter worth approximately $50,959,000. Invesco Ltd. boosted its holdings in shares of Miami International by 178.8% in the fourth quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock worth $56,761,000 after buying an additional 820,246 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Miami International in the third quarter worth approximately $32,679,000. Finally, North Reef Capital Management LP bought a new stake in Miami International during the third quarter valued at approximately $29,221,000.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley increased their price objective on Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Wall Street Zen cut shares of Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Rosenblatt Securities raised their price target on shares of 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 boosted 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. Finally, JPMorgan Chase & Co. increased their price objective 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. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.