Harish Jayabalan Sells 20,000 Shares of Miami International (NYSE:MIAX) Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Harish Jayabalan sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $45.90, for a total value of $918,000.00. Following the transaction, the executive vice president owned 78,065 shares in the company, valued at approximately $3,583,183.50. This represents a 20.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through 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, July 6th, Harish Jayabalan sold 20,000 shares of Miami International stock. The stock was sold at an average price of $42.12, for a total transaction of $842,400.00.
• On Monday, June 8th, Harish Jayabalan sold 10,217 shares of Miami International stock. The stock was 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 shares were sold at an average price of $40.04, for a total transaction of $391,711.32.

Miami International Trading Down 1.3%

Shares of MIAX traded down $0.58 during mid-day trading on Thursday, hitting $45.38. The company’s stock had a trading volume of 1,947,036 shares, compared to its average volume of 1,552,097. The company’s 50-day moving average is $41.66 and its 200-day moving average is $42.92. Miami International Holdings, Inc. has a 52-week low of $28.63 and a 52-week high of $57.14. The firm has a market capitalization of $4.31 billion and a price-to-earnings ratio of 47.27.

Miami International (NYSE:MIAX) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. The business had revenue of $387.63 million for the quarter. The firm’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 earnings per share. As a group, sell-side analysts predict that Miami International Holdings, Inc. will post 1.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Miami International

Several hedge funds have recently made changes to their positions in MIAX. State of Wyoming acquired a new stake in Miami International during the 4th quarter worth about $26,000. National Bank of Canada FI acquired a new stake in shares of Miami International during the third quarter worth about $29,000. Comerica Bank boosted its position in Miami International by 295.6% in the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock valued at $56,000 after buying an additional 937 shares during the last quarter. Fifth Third Bancorp purchased a new stake in Miami International in the first quarter valued at approximately $61,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Miami International in the 4th quarter worth approximately $66,000.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Morgan Stanley increased their target price on shares of Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Zacks Research lowered shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Keefe, Bruyette & Woods upped their price target on Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, May 8th. Finally, Weiss Ratings raised Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Miami International has an average rating of “Hold” and an average target price of $52.00.

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.