Miami International (NYSE:MIAX) Stock: Insider Douglas Schafer Jr Sells 8,000 Shares

Key Points

• Insider sale: EVP Douglas Schafer Jr. sold 8,000 Miami International shares at an average price of $35.06, generating $280,480. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan, leaving him with 387,414 shares.
• Stock performance: MIAX recently traded at $33.15, with a market capitalization of approximately $3.29 billion. The stock has ranged from $29.06 to $57.14 over the past year and remains below its 50-day and 200-day moving averages.
• Business and analyst outlook: The company exceeded quarterly earnings expectations, reporting $0.48 EPS and $387.63 million in revenue, up 34.8% year over year. Analysts collectively rate the stock “Moderate Buy,” with an average price target of $50, though ratings range from Strong Buy to Hold.

Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) EVP Douglas Schafer, Jr. sold 8,000 shares of the company's stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $35.06, for a total value of $280,480.00. Following the completion of the sale, the executive vice president directly owned 387,414 shares of the company's stock, valued at approximately $13,582,734.84. This represents a 2.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Price Performance

NYSE MIAX traded down $0.83 on Monday, reaching $33.15. 1,069,276 shares of the company's stock traded hands, compared to its average volume of 1,564,388. The stock has a market cap of $3.29 billion, a PE ratio of 43.06 and a beta of 1.79. Miami International Holdings, Inc. has a 12 month low of $29.06 and a 12 month high of $57.14. The stock has a 50-day simple moving average of $37.39 and a 200 day simple moving average of $41.85.

Miami International (NYSE:MIAX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $387.63 million during the quarter. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The company's revenue was up 34.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 earnings per share. As a group, analysts anticipate that Miami International Holdings, Inc. will post 1.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MIAX shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Miami International in a research report on Friday, August 7th. Morgan Stanley reduced their price objective on Miami International from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Friday, October 9th. Zacks Research upgraded Miami International from a "hold" rating to a "strong-buy" rating in a report on Friday, September 25th. Wall Street Zen lowered Miami International from a "buy" rating to a "hold" rating in a research note on Sunday, August 23rd. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $62.00 target price on shares of Miami International in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $50.00.

Institutional Investors Weigh In On Miami International

Large investors have recently modified their holdings of the stock. Fifth Third Bancorp bought a new stake in Miami International during the 1st quarter valued at approximately $61,000. New York State Teachers Retirement System purchased a new position in Miami International in the first quarter worth about $84,000. Sterling Capital Management LLC lifted its stake in shares of Miami International by 857.2% in the third quarter. Sterling Capital Management LLC now owns 2,575 shares of the company's stock worth $86,000 after buying an additional 2,306 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Miami International by 42.3% during the third quarter. Nisa Investment Advisors LLC now owns 2,641 shares of the company's stock valued at $88,000 after buying an additional 785 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Miami International during the third quarter valued at approximately $108,000.

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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