Douglas Schafer, Jr. Sells 48,000 Shares of Miami International (NYSE:MIAX) Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Douglas Schafer, Jr. sold 48,000 shares of Miami International stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $41.22, for a total transaction of $1,978,560.00. Following the completion of the sale, the executive vice president owned 387,414 shares of the company’s stock, valued at approximately $15,969,205.08. This trade represents a 11.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Trading Up 4.2%

NYSE MIAX traded up $1.75 during trading hours on Tuesday, reaching $43.61. 2,183,781 shares of the company traded hands, compared to its average volume of 1,602,494. The stock has a market capitalization of $4.14 billion and a PE ratio of 45.42. Miami International Holdings, Inc. has a 12 month low of $28.63 and a 12 month high of $57.14. The company has a 50 day moving average of $44.82 and a two-hundred day moving average of $43.06.

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

Institutional Investors Weigh In On Miami International

Institutional investors have recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in shares of Miami International during the 4th quarter valued at $26,000. National Bank of Canada FI acquired a new stake in shares of Miami International in the third quarter valued at $29,000. Comerica Bank boosted its stake in Miami International by 295.6% during the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock valued at $56,000 after buying an additional 937 shares in the last quarter. Fifth Third Bancorp acquired a new position in Miami International during the first quarter worth about $61,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Miami International during the fourth quarter worth about $66,000.

Wall Street Analyst Weigh In

MIAX has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Miami International from $41.00 to $45.00 and gave the stock 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 report on Monday, May 11th. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Morgan Stanley upped their price objective on Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” 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.