Miami International (NYSE:MIAX) CEO Thomas Gallagher Sells 149,700 Shares of Stock

Miami International Holdings, Inc. (NYSE:MIAX) CEO Thomas Gallagher sold 149,700 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $41.13, for a total transaction of $6,157,161.00. Following the completion of the transaction, the chief executive officer owned 1,423,275 shares of the company’s stock, valued at $58,539,300.75. This represents a 9.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Miami International Price Performance

MIAX opened at $41.30 on Friday. Miami International Holdings, Inc. has a 1-year low of $31.60 and a 1-year high of $57.14. The stock has a market cap of $4.10 billion and a P/E ratio of 53.64. The stock’s 50 day simple moving average is $41.84 and its 200 day simple moving average is $42.94.

Miami International (NYSE:MIAX) last posted its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.07. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The firm had revenue of $387.63 million during the quarter. During the same quarter last year, the business posted $0.48 earnings per share. The business’s revenue was up 34.8% compared to the same quarter last year. Research analysts expect that Miami International Holdings, Inc. will post 1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Miami International

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Miami International during the 2nd quarter worth approximately $188,466,000. Vanguard Group Inc. acquired a new position in Miami International during the third quarter valued at approximately $55,660,000. Alyeska Investment Group L.P. acquired a new position in Miami International during the third quarter valued at approximately $50,959,000. Bank of America Corp DE purchased a new stake in Miami International during the second quarter worth approximately $31,845,000. Finally, Invesco Ltd. grew its stake in Miami International by 178.8% during 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 period.

Analyst Ratings Changes

A number of analysts have issued reports on MIAX shares. Rosenblatt Securities raised their price target on Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley increased their price objective on shares of Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Wall Street Zen raised shares of Miami International from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “hold (c)” rating on shares of Miami International in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $52.00.

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.