Insider Selling: Miami International (NYSE:MIAX) EVP Sells 21,217 Shares

Miami International Holdings, Inc. (NYSE:MIAX) EVP Shelly Brown sold 21,217 shares of Miami International stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $38.61, for a total value of $819,188.37. Following the transaction, the executive vice president directly owned 316,490 shares in the company, valued at $12,219,678.90. The trade was a 6.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shelly Brown also recently made the following trade(s):

• On Monday, July 6th, Shelly Brown sold 16,000 shares of Miami International stock. The stock was sold at an average price of $42.13, for a total value of $674,080.00.

Miami International Price Performance

Shares of Miami International stock traded down $0.39 during midday trading on Thursday, reaching $37.65. The company had a trading volume of 1,353,195 shares, compared to its average volume of 1,510,388. The stock has a fifty day moving average price of $43.01 and a 200 day moving average price of $43.11. Miami International Holdings, Inc. has a fifty-two week low of $35.43 and a fifty-two week high of $57.14. The firm has a market cap of $3.74 billion and a PE ratio of 48.89.

Miami International (NYSE:MIAX) last released its quarterly 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. The firm had revenue of $387.63 million during the quarter. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The firm’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. As a group, sell-side analysts forecast that Miami International Holdings, Inc. will post 1.7 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Rosenblatt Securities increased their price target on Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley lowered Miami International from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $53.00 to $50.00 in a research report on Tuesday, September 1st. Keefe, Bruyette & Woods boosted their price objective on Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a research note on Friday, August 7th. Finally, Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Miami International currently has a consensus rating of “Hold” and a consensus price target of $51.40.

Hedge Funds Weigh In On Miami International

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

About Miami International

Miami International Holdings, Inc (NYSE: MIAX) operates a global exchange group focused on financial markets and trading infrastructure. Its business includes the MIAX Exchange Group, which operates electronic options and equities exchanges serving institutional, professional and other market participants.

The company’s exchange platforms include MIAX, MIAX Pearl and MIAX Emerald for listed options, as well as MIAX Sapphire for equities. Miami International Holdings also provides exchange-related services such as market data, connectivity and trading technology designed to support efficient order execution and liquidity across its marketplaces.

Founded in 2007, the company has expanded beyond its U.S.