Lance Emmons Sells 35,000 Shares of Miami International (NYSE:MIAX) Stock

Miami International Holdings, Inc. (NYSE:MIAX) CFO Lance Emmons sold 35,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $56.36, for a total transaction of $1,972,600.00. Following the completion of the transaction, the chief financial officer directly owned 84,262 shares in the company, valued at approximately $4,749,006.32. This represents a 29.35% 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.

Miami International Stock Down 3.1%

Shares of MIAX stock traded down $1.76 during mid-day trading on Monday, reaching $54.41. The company’s stock had a trading volume of 1,167,221 shares, compared to its average volume of 1,298,986. The company’s 50 day simple moving average is $43.57 and its 200-day simple moving average is $43.73. Miami International Holdings, Inc. has a 12-month low of $28.63 and a 12-month high of $57.14. The firm has a market capitalization of $5.16 billion and a PE ratio of 56.67.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Morgan Stanley raised their price target on shares of Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Rosenblatt Securities raised their price target 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. Zacks Research raised shares of Miami International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a report 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 assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.

Institutional Investors Weigh In On Miami International

Institutional investors have recently modified their holdings of the business. State of Wyoming acquired a new stake in Miami International during the fourth quarter worth about $26,000. National Bank of Canada FI acquired a new stake in Miami International during the third quarter worth about $29,000. Comerica Bank raised its stake in Miami International by 295.6% during the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after acquiring an additional 937 shares during the period. Fifth Third Bancorp acquired a new stake in Miami International during the first quarter worth about $61,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Miami International during the fourth quarter worth about $66,000.

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.