Miami International (NYSE:MIAX) Stock: Insider Douglas Schafer, Jr. Sells 40,000 Shares

Miami International Holdings, Inc. (NYSE:MIAX) EVP Douglas Schafer, Jr. sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $34.07, for a total value of $1,362,800.00. Following the transaction, the executive vice president owned 387,414 shares in the company, valued at approximately $13,199,194.98. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Price Performance

Miami International stock traded down $0.46 during trading hours on Thursday, reaching $34.51. The company had a trading volume of 1,103,931 shares, compared to its average volume of 1,567,046. The company has a 50-day moving average price of $35.93 and a 200 day moving average price of $41.20. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 12.78 and a beta of 1.73. Miami International Holdings, Inc. has a 12-month low of $29.06 and a 12-month high of $57.14.

Miami International (NYSE:MIAX) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. The firm had revenue of $376.18 million during the quarter. Miami International had a return on equity of 19.06% and a net margin of 19.75%. The business’s revenue for the quarter was up 243.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 EPS. As a group, research analysts expect that Miami International Holdings, Inc. will post 1.76 earnings per share for the current year.

Institutional Trading of Miami International

Several institutional investors and hedge funds have recently bought and sold shares of MIAX. BlackRock Inc. purchased a new position in shares of Miami International during the 2nd quarter worth approximately $188,466,000. J Digital 6 LLC bought a new position in shares of Miami International in the 2nd quarter worth approximately $67,157,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Miami International by 19.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,112,261 shares of the company’s stock valued at $43,790,000 after purchasing an additional 180,208 shares during the period. Bank of America Corp DE lifted its stake in shares of Miami International by 196.5% in the 1st quarter. Bank of America Corp DE now owns 900,882 shares of the company’s stock valued at $35,062,000 after purchasing an additional 597,021 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Miami International by 1,646.6% in 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 period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, August 7th. Zacks Research lowered shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Monday, October 26th. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Morgan Stanley cut their target price on Miami International from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, October 9th. Finally, Weiss Ratings downgraded Miami International from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, October 28th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $49.00.

Miami International Company Profile

Miami International Holdings, Inc (NYSE: MIAX) is a financial exchange operator that owns and manages regulated marketplaces for the trading of options and other securities. Through its exchange platforms, the company provides electronic trading, order matching, market data and related services to brokers, market makers, institutional investors and other market participants.

The company operates the MIAX exchange family, which includes MIAX, MIAX Pearl and MIAX Emerald, as well as related equities and options trading venues.