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 firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $41.13, for a total transaction of $6,157,161.00. Following the sale, the chief executive officer owned 1,423,275 shares of the company’s stock, valued at approximately $58,539,300.75. The trade was a 9.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 traded up $0.70 during trading hours on Thursday, reaching $41.30. The company’s stock had a trading volume of 1,238,693 shares, compared to its average volume of 1,531,140. The stock has a market cap of $4.10 billion and a PE ratio of 53.64. Miami International Holdings, Inc. has a fifty-two week low of $31.60 and a fifty-two week high of $57.14. The business’s 50-day moving average is $41.84 and its 200-day moving average is $42.95.

Miami International (NYSE:MIAX) last posted its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the business earned $0.48 EPS. Miami International’s revenue was up 34.8% compared to the same quarter last year. Analysts expect that Miami International Holdings, Inc. will post 1.69 EPS for the current year.

Institutional Trading of Miami International

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in shares of Miami International during the fourth quarter worth about $8,477,000. Vanguard Group Inc. grew its holdings in shares of Miami International by 39.5% in the fourth quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock valued at $85,577,000 after purchasing an additional 545,770 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Miami International during the 1st quarter worth approximately $5,834,000. Renaissance Technologies LLC lifted its holdings in Miami International by 39.2% during the 1st quarter. Renaissance Technologies LLC now owns 271,500 shares of the company’s stock worth $10,567,000 after buying an additional 76,401 shares in the last quarter. Finally, Seven Grand Managers LLC lifted its holdings in Miami International by 33.3% during the 4th quarter. Seven Grand Managers LLC now owns 400,000 shares of the company’s stock worth $17,752,000 after buying an additional 100,000 shares in the last quarter.

Wall Street Analyst Weigh In

MIAX has been the topic of several research analyst reports. Rosenblatt Securities boosted their price objective on shares of Miami International from $61.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Morgan Stanley lifted their price target 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. Keefe, Bruyette & Woods upped their price objective on shares of Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, August 7th. Wall Street Zen raised Miami International from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Miami International in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Miami International presently has a consensus 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.