Harish Jayabalan Sells 10,217 Shares of Miami International (NYSE:MIAX) Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Harish Jayabalan sold 10,217 shares of Miami International stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $40.12, for a total transaction of $409,906.04. Following the sale, the executive vice president owned 73,405 shares of the company’s stock, valued at approximately $2,945,008.60. This trade represents a 12.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Harish Jayabalan also recently made the following trade(s):

• On Tuesday, June 9th, Harish Jayabalan sold 9,783 shares of Miami International stock. The stock was sold at an average price of $40.04, for a total transaction of $391,711.32.

Miami International Trading Up 1.1%

Shares of NYSE:MIAX opened at $41.26 on Friday. The company has a fifty day simple moving average of $46.18 and a 200 day simple moving average of $43.73. The firm has a market cap of $3.92 billion and a PE ratio of 42.98. Miami International Holdings, Inc. has a 12-month low of $28.63 and a 12-month high of $57.14.

Miami International (NYSE:MIAX) last released its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $369.69 million for the quarter, compared to the consensus estimate of $122.74 million. During the same quarter in the previous year, the firm earned $0.38 EPS. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis. As a group, equities research analysts forecast that Miami International Holdings, Inc. will post 1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Miami International

A number of hedge funds have recently made changes to their positions in the business. Mad River Investors boosted its stake in shares of Miami International by 0.6% in the 4th quarter. Mad River Investors now owns 75,050 shares of the company’s stock valued at $3,331,000 after purchasing an additional 450 shares in the last quarter. State of Wyoming acquired a new stake in shares of Miami International in the 4th quarter valued at $26,000. National Bank of Canada FI acquired a new stake in shares of Miami International in the 3rd quarter valued at $29,000. First Trust Advisors LP boosted its stake in shares of Miami International by 3.5% in the 4th quarter. First Trust Advisors LP now owns 21,671 shares of the company’s stock valued at $962,000 after purchasing an additional 733 shares in the last quarter. Finally, Coastal Bridge Advisors LLC boosted its stake in shares of Miami International by 1.1% in the 4th quarter. Coastal Bridge Advisors LLC now owns 77,415 shares of the company’s stock valued at $3,436,000 after purchasing an additional 850 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings raised shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Morgan Stanley upped their price objective on shares of Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Zacks Research raised shares of Miami International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Finally, Rosenblatt Securities upped their price objective on shares of Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.20.

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.