Miami International (NYSE:MIAX) EVP Sells 40,000 Shares of Company Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Douglas Schafer, Jr. sold 40,000 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $33.34, for a total transaction of $1,333,600.00. Following the completion of the sale, the executive vice president owned 387,414 shares of the company’s stock, valued at $12,916,382.76. This trade represents a 9.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Trading Down 10.1%

Shares of MIAX stock traded down $3.48 during midday trading on Tuesday, reaching $30.84. 4,753,355 shares of the stock were exchanged, compared to its average volume of 1,554,406. Miami International Holdings, Inc. has a 1 year low of $30.69 and a 1 year high of $57.14. The firm has a market cap of $3.06 billion, a PE ratio of 40.06 and a beta of 1.79. The company’s 50 day moving average is $41.20 and its two-hundred day moving average is $42.62.

Miami International (NYSE:MIAX) last released its earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The company had revenue of $387.63 million during the quarter. During the same quarter in the previous year, the business earned $0.48 EPS. The company’s revenue for the quarter was up 34.8% compared to the same quarter last year. As a group, equities analysts expect that Miami International Holdings, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Zacks Research upgraded shares of Miami International from a “hold” rating to a “strong-buy” rating in a report on Friday, September 25th. Morgan Stanley cut shares of Miami International from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $53.00 to $50.00 in a research report on Tuesday, September 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, August 7th. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price objective on shares of Miami International in a report on Friday. Finally, Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.40.

Hedge Funds Weigh In On Miami International

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlueCrest Capital Management Ltd bought a new position in Miami International in the 2nd quarter worth about $7,432,000. NewEdge Advisors LLC grew its position in Miami International by 1,646.6% during the 2nd quarter. NewEdge Advisors LLC now owns 681,610 shares of the company’s stock valued at $25,329,000 after purchasing an additional 642,585 shares during the last quarter. One Charles Private Wealth Services LLC bought a new stake in Miami International during the 2nd quarter valued at about $4,400,000. Allianz Asset Management GmbH purchased a new position in Miami International in the second quarter worth about $13,350,000. Finally, HighTower Advisors LLC raised its holdings in Miami International by 290.6% in the second quarter. HighTower Advisors LLC now owns 112,298 shares of the company’s stock worth $4,173,000 after buying an additional 83,547 shares during the last quarter.

Miami International Company Profile

Miami International Holdings, Inc operates financial markets and exchange platforms through its MIAX Exchange Group. The company provides electronic trading venues, market data, and related technology for options and other securities, with an emphasis on high-performance execution and competitive market structure.

Its U.S. exchange portfolio includes the MIAX, MIAX Pearl, MIAX Emerald, and MIAX Sapphire options exchanges, as well as MIAX Pearl Equities. These venues support trading in listed options and equities and are designed to serve market makers, institutional investors, broker-dealers, and other market participants.

Miami International Holdings was founded in 2007, and its flagship MIAX options exchange began operations in 2012.