Miami International (NYSE:MIAX) CEO Thomas Gallagher Sells 70,000 Shares

Miami International Holdings, Inc. (NYSE:MIAX) CEO Thomas Gallagher sold 70,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $42.36, for a total value of $2,965,200.00. Following the sale, the chief executive officer directly owned 1,723,275 shares in the company, valued at $72,997,929. This trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Stock Down 1.5%

NYSE:MIAX traded down $0.60 on Thursday, hitting $39.73. The stock had a trading volume of 1,614,484 shares, compared to its average volume of 1,325,189. The stock has a market cap of $3.77 billion and a price-to-earnings ratio of 41.38. The business’s 50-day simple moving average is $45.98 and its two-hundred day simple moving average is $43.97. 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 announced its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 40.0% on a year-over-year basis. As a group, equities research analysts anticipate that Miami International Holdings, Inc. will post 1.53 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on MIAX shares. Zacks Research raised Miami International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods boosted their target price on shares of Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, May 8th. Morgan Stanley boosted their target price on shares of Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. JPMorgan Chase & Co. boosted their target price on shares of Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Rosenblatt Securities boosted their target price on shares of Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.20.

Institutional Trading of Miami International

A number of large investors have recently added to or reduced their stakes in MIAX. State of Wyoming bought a new stake in Miami International in the 4th quarter worth approximately $26,000. National Bank of Canada FI bought a new position in shares of Miami International during the 3rd quarter valued at approximately $29,000. Comerica Bank increased its position in shares of Miami International by 295.6% during the 4th quarter. Comerica Bank now owns 1,254 shares of the company’s stock valued at $56,000 after purchasing an additional 937 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of Miami International during the 1st quarter valued at approximately $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Miami International during the 4th quarter valued at approximately $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.