Miami International (NYSE:MIAX) EVP Sells $842,400.00 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Harish Jayabalan sold 20,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $42.12, for a total value of $842,400.00. Following the completion of the transaction, the executive vice president directly owned 78,065 shares of the company’s stock, valued at approximately $3,288,097.80. The trade was a 20.39% decrease in their position. The transaction 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.

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

• On Monday, June 8th, Harish Jayabalan sold 10,217 shares of Miami International stock. The shares were sold at an average price of $40.12, for a total transaction of $409,906.04.
• On Tuesday, June 9th, Harish Jayabalan sold 9,783 shares of Miami International stock. The stock was sold at an average price of $40.04, for a total transaction of $391,711.32.

Miami International Price Performance

Shares of Miami International stock traded up $1.75 on Tuesday, hitting $43.61. The company had a trading volume of 2,183,781 shares, compared to its average volume of 1,602,494. Miami International Holdings, Inc. has a 52 week low of $28.63 and a 52 week high of $57.14. The company has a market cap of $4.14 billion and a PE ratio of 45.42. The business has a 50-day simple moving average of $44.82 and a 200-day simple moving average of $43.06.

Miami International (NYSE:MIAX) last issued its quarterly 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 business had revenue of $369.69 million during the quarter, compared to analyst estimates of $122.74 million. Miami International’s revenue was up 40.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share. On average, equities research analysts predict that Miami International Holdings, Inc. will post 1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Miami International

Several institutional investors have recently made changes to their positions in MIAX. State of Wyoming bought a new stake in Miami International in the fourth quarter worth approximately $26,000. National Bank of Canada FI bought a new stake in Miami International in the third quarter worth $29,000. Comerica Bank increased its position in Miami International by 295.6% during the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after buying an additional 937 shares during the last quarter. Fifth Third Bancorp bought a new position in Miami International during the first quarter valued at about $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Miami International during the fourth quarter valued at about $66,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MIAX shares. JPMorgan Chase & Co. lifted their price target on Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Rosenblatt Securities raised 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. Morgan Stanley lifted their target price on shares of Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Keefe, Bruyette & Woods raised their price objective on shares of Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $51.20.

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.