Miami International (NYSE:MIAX) EVP Sells $1,943,040.00 in Stock

Key Points

• Executive stock sale: EVP Douglas Schafer Jr. sold 48,000 MIAX shares for approximately $1.94 million at an average price of $40.48 under a pre-arranged Rule 10b5-1 plan. He retains 387,414 shares valued at about $15.68 million.
• Quarterly performance: Miami International reported quarterly earnings of $0.48 per share, beating estimates by $0.07, while revenue rose 34.8% year over year to $387.63 million.
• Analyst outlook remains cautious: The stock has a consensus “Hold” rating with an average price target of $51.40, despite some analysts raising targets and Rosenblatt maintaining a “Buy” rating.

Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) EVP Douglas Schafer, Jr. sold 48,000 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $40.48, for a total transaction of $1,943,040.00. Following the completion of the sale, the executive vice president owned 387,414 shares in the company, valued at $15,682,518.72. This represents a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Stock Performance

Shares of MIAX traded down $0.21 during trading hours on Friday, reaching $42.50. 804,726 shares of the company traded hands, compared to its average volume of 1,519,371. The stock's fifty day moving average is $42.72 and its 200 day moving average is $43.05. The stock has a market cap of $4.22 billion and a P/E ratio of 55.20. Miami International Holdings, Inc. has a 1-year low of $34.02 and a 1-year high of $57.14.

Miami International (NYSE:MIAX - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.07. The business had revenue of $387.63 million for the quarter. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The firm's quarterly revenue was up 34.8% compared to the same quarter last year. During the same period last year, the business earned $0.48 earnings per share. On average, equities research analysts predict that Miami International Holdings, Inc. will post 1.7 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Miami International from $46.00 to $48.00 and gave the stock a "market perform" rating in a report on Friday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Miami International from $41.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Wall Street Zen cut shares of Miami International from a "buy" rating to a "hold" rating in a research note on Sunday, August 23rd. Rosenblatt Securities lifted their price objective on Miami International from $61.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Zacks Research cut Miami International from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. 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, the stock presently has a consensus rating of "Hold" and an average target price of $51.40.

Institutional Investors Weigh In On Miami International

A number of hedge funds have recently made changes to their positions in the company. State of Wyoming bought a new position in Miami International during the 4th quarter valued at about $26,000. National Bank of Canada FI bought a new stake in Miami International during the third quarter worth about $29,000. Comerica Bank increased its holdings in shares of 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 buying an additional 937 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Miami International during the fourth quarter worth approximately $66,000. Finally, Fifth Third Bancorp bought a new position in shares of Miami International in the first quarter valued at approximately $61,000.

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.