Miami International (NYSE:MIAX) EVP Sells 8,000 Shares of Company Stock

Key Points

• EVP Douglas Schafer Jr. sold 8,000 shares for $280,000, under a pre-arranged Rule 10b5-1 plan. He retained 387,414 shares after the sale.
• Miami International beat quarterly EPS estimates, reporting $0.45 per share versus $0.36 expected; revenue rose 243.6% year over year to $376.18 million.
• Analysts’ consensus rating is Hold, with a $49 average price target. MIAX shares traded at $34.51 in Thursday’s mid-day session.

Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) EVP Douglas Schafer, Jr. sold 8,000 shares of Miami International stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $35.00, for a total value of $280,000.00. Following the completion of the transaction, the executive vice president owned 387,414 shares in the company, valued at $13,559,490. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Price Performance

Shares of MIAX stock traded down $0.46 during mid-day trading on Thursday, hitting $34.51. The stock had a trading volume of 1,103,934 shares, compared to its average volume of 1,567,046. Miami International Holdings, Inc. has a fifty-two week low of $29.06 and a fifty-two week high of $57.14. The company's 50-day simple moving average is $35.93 and its 200-day simple moving average is $41.20. The firm has a market cap of $3.45 billion, a PE ratio of 12.78 and a beta of 1.73.

Miami International (NYSE:MIAX - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.09. Miami International had a return on equity of 19.06% and a net margin of 19.75%. The business had revenue of $376.18 million during the quarter. During the same period last year, the company posted $0.42 earnings per share. The business's quarterly revenue was up 243.6% on a year-over-year basis. On average, analysts expect that Miami International Holdings, Inc. will post 1.76 EPS for the current year.

Institutional Trading of Miami International

Several institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp bought a new position in Miami International during the 1st quarter valued at $61,000. New York State Teachers Retirement System acquired a new position in Miami International during the 1st quarter worth $84,000. Covestor Ltd increased its position in shares of Miami International by 321.5% in the 3rd quarter. Covestor Ltd now owns 2,508 shares of the company's stock worth $84,000 after purchasing an additional 1,913 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of Miami International by 857.2% in the 3rd quarter. Sterling Capital Management LLC now owns 2,575 shares of the company's stock valued at $86,000 after purchasing an additional 2,306 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Miami International by 42.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,641 shares of the company's stock valued at $88,000 after purchasing an additional 785 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MIAX shares. Rosenblatt Securities dropped their target price on shares of Miami International from $62.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, October 27th. Zacks Research lowered Miami International from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 26th. Morgan Stanley decreased their price objective on shares of Miami International from $50.00 to $43.00 and set an "equal weight" rating for the company in a research note on Friday, October 9th. Wall Street Zen lowered Miami International from a "buy" rating to a "hold" rating in a research note on Sunday, August 23rd. Finally, Weiss Ratings cut shares of Miami International from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, October 28th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Miami International has a consensus rating of "Hold" and a consensus target price of $49.00.

About Miami International

Miami International Holdings, Inc NYSE: MIAX is a financial exchange operator that owns and manages regulated marketplaces for the trading of options and other securities. Through its exchange platforms, the company provides electronic trading, order matching, market data and related services to brokers, market makers, institutional investors and other market participants.

The company operates the MIAX exchange family, which includes MIAX, MIAX Pearl and MIAX Emerald, as well as related equities and options trading venues.

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