Miami International (NYSE:MIAX) CEO Sells $1,758,183.48 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) CEO Thomas Gallagher sold 41,772 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $42.09, for a total value of $1,758,183.48. Following the transaction, the chief executive officer owned 1,723,275 shares of the company’s stock, valued at approximately $72,532,644.75. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Stock Up 4.2%

NYSE:MIAX traded up $1.75 during trading hours on Tuesday, hitting $43.61. 2,183,785 shares of the stock traded hands, compared to its average volume of 1,602,494. Miami International Holdings, Inc. has a 1 year low of $28.63 and a 1 year high of $57.14. The company has a market cap of $4.14 billion and a price-to-earnings ratio of 45.42. The stock has a 50 day moving average price of $44.82 and a 200 day moving average price of $43.06.

Miami International (NYSE:MIAX) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $369.69 million during the quarter, compared to analysts’ expectations of $122.74 million. During the same period last year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 40.0% on a year-over-year basis. Equities analysts forecast that Miami International Holdings, Inc. will post 1.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MIAX has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Keefe, Bruyette & Woods boosted their price target on Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, May 8th. Zacks Research downgraded Miami International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Rosenblatt Securities increased their price objective on shares of Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Miami International has a consensus rating of “Hold” and an average target price of $51.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. lifted its position in shares of Miami International by 24.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company’s stock worth $134,282,000 after buying an additional 595,096 shares in the last quarter. Vanguard Group Inc. grew its holdings in Miami International by 39.5% during the 4th quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock valued at $85,577,000 after buying an additional 545,770 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its stake in Miami International by 31.6% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company’s stock worth $80,763,000 after acquiring an additional 437,395 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in Miami International by 1.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,286,086 shares of the company’s stock worth $57,076,000 after acquiring an additional 20,350 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Miami International by 178.8% during the 4th quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock worth $56,761,000 after acquiring an additional 820,246 shares in the last quarter.

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.