Insider Selling: Miami International (NYSE:MIAX) EVP Sells 11,000 Shares

Key Points

• Miami International EVP Edward Deitzel sold 11,000 shares at an average price of $42.21, generating $464,310. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 8.42% to 119,601 shares.
• MIAX shares fell 0.5% to $42.50, with the company valued at approximately $4.22 billion. The stock has traded between $34.02 and $57.14 over the past year.
• The company recently exceeded quarterly earnings expectations, reporting $0.48 in EPS versus a $0.41 consensus estimate and 34.8% year-over-year revenue growth. Analysts maintain a consensus “Hold” rating with a $51.40 target price.

Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) EVP Edward Deitzel sold 11,000 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $42.21, for a total transaction of $464,310.00. Following the completion of the transaction, the executive vice president owned 119,601 shares in the company, valued at approximately $5,048,358.21. This represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Edward Deitzel also recently made the following trade(s):

• On Tuesday, August 4th, Edward Deitzel sold 11,000 shares of Miami International stock. The stock was sold at an average price of $45.78, for a total value of $503,580.00.
• On Monday, July 6th, Edward Deitzel sold 11,000 shares of Miami International stock. The stock was sold at an average price of $42.04, for a total value of $462,440.00.

Miami International Stock Down 0.5%

NYSE MIAX traded down $0.21 during trading on Friday, hitting $42.50. The stock had a trading volume of 804,726 shares, compared to its average volume of 1,519,371. The company has a market capitalization of $4.22 billion and a PE ratio of 55.20. The firm has a 50 day moving average price of $42.72 and a 200 day moving average price of $43.05. Miami International Holdings, Inc. has a twelve month low of $34.02 and a twelve month high of $57.14.

Miami International (NYSE:MIAX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The business had revenue of $387.63 million during the quarter. During the same period in the previous year, the business posted $0.48 EPS. The company's revenue for the quarter was up 34.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Miami International Holdings, Inc. will post 1.7 earnings per share for the current year.

Institutional Investors Weigh In On Miami International

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming purchased a new stake in Miami International during the fourth quarter worth approximately $26,000. National Bank of Canada FI purchased a new position in Miami International in the third quarter valued at approximately $29,000. Comerica Bank raised its holdings 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 purchasing an additional 937 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Miami International during the fourth quarter worth approximately $66,000. Finally, Fifth Third Bancorp purchased a new stake in shares of Miami International during the 1st quarter worth approximately $61,000.

Analyst Ratings Changes

Several research analysts recently commented on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Miami International in a research note on Friday, August 7th. Zacks Research cut shares of Miami International from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Wall Street Zen cut shares of Miami International from a "buy" rating to a "hold" rating in a report on Sunday, August 23rd. Morgan Stanley downgraded shares of Miami International from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $53.00 to $50.00 in a research report on Tuesday. Finally, Rosenblatt Securities lifted their price objective on shares of Miami International from $61.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Miami International presently has an average rating of "Hold" and a consensus target price of $51.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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