Harish Jayabalan Sells 9,783 Shares of Miami International (NYSE:MIAX) Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Harish Jayabalan sold 9,783 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $40.04, for a total transaction of $391,711.32. Following the transaction, the executive vice president owned 73,405 shares of the company’s stock, valued at $2,939,136.20. The trade was a 11.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 8th, Harish Jayabalan sold 10,217 shares of Miami International stock. The stock was sold at an average price of $40.12, for a total transaction of $409,906.04.

Miami International Stock Up 2.4%

Shares of MIAX stock traded up $0.95 on Wednesday, reaching $40.75. The stock had a trading volume of 1,995,430 shares, compared to its average volume of 1,348,539. The firm’s 50-day moving average is $46.06 and its two-hundred day moving average is $43.77. The firm has a market capitalization of $3.87 billion and a price-to-earnings ratio of 42.44. 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 issued its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $369.69 million during the quarter, compared to the consensus estimate of $122.74 million. The firm’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share. On average, sell-side analysts forecast that Miami International Holdings, Inc. will post 1.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Mad River Investors raised its holdings in 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 acquiring an additional 450 shares during the period. State of Wyoming bought a new position in Miami International during the fourth quarter worth about $26,000. National Bank of Canada FI bought a new position in Miami International during the third quarter worth about $29,000. First Trust Advisors LP increased its position in Miami International by 3.5% during the fourth quarter. First Trust Advisors LP now owns 21,671 shares of the company’s stock worth $962,000 after acquiring an additional 733 shares during the period. Finally, Coastal Bridge Advisors LLC increased its position in Miami International by 1.1% during the fourth quarter. Coastal Bridge Advisors LLC now owns 77,415 shares of the company’s stock worth $3,436,000 after acquiring an additional 850 shares during the period.

Analysts Set New Price Targets

MIAX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price 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. Zacks Research raised shares of Miami International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Weiss Ratings raised shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Morgan Stanley lifted their target price on shares of Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Finally, Wall Street Zen cut shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.