Insider Selling: Miami International (NYSE:MIAX) CEO Sells 70,000 Shares of Stock

Miami International Holdings, Inc. (NYSE:MIAX) CEO Thomas Gallagher sold 70,000 shares of the company’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $42.52, for a total value of $2,976,400.00. Following the sale, the chief executive officer owned 1,723,275 shares of the company’s stock, valued at approximately $73,273,653. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Stock Performance

Miami International stock traded down $1.21 during midday trading on Tuesday, reaching $41.10. The stock had a trading volume of 1,333,374 shares, compared to its average volume of 1,591,553. The stock’s 50-day simple moving average is $44.41 and its 200 day simple moving average is $42.97. Miami International Holdings, Inc. has a twelve month low of $28.63 and a twelve month high of $57.14. The stock has a market capitalization of $3.90 billion and a PE ratio of 42.81.

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

Hedge Funds Weigh In On Miami International

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new stake in Miami International in the third quarter valued at approximately $55,660,000. First Trust Advisors LP acquired a new position in shares of Miami International during the third quarter worth $843,000. Legal & General Group Plc purchased a new position in shares of Miami International in the third quarter valued at $302,000. Franklin Resources Inc. purchased a new position in shares of Miami International in the third quarter valued at $17,403,000. Finally, Sei Investments Co. acquired a new stake in Miami International during the 3rd quarter valued at $4,074,000.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods raised 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. Morgan Stanley boosted their price objective on shares of Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday. Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. JPMorgan Chase & Co. raised their target price 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. Finally, Rosenblatt Securities lifted their target price 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 analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $51.80.

About Miami International

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.