Insider Selling: Miami International (NYSE:MIAX) EVP Sells 48,000 Shares of Stock

Key Points

• EVP Douglas Schafer, Jr. sold 48,000 shares on May 4 at an average price of $47.25 for a total of $2.268 million, reducing his stake by 10.79% to 396,681 shares (about $18.74 million); the sale was disclosed to the SEC and executed under a Rule 10b5-1 plan.
• Miami International (NYSE:MIAX) traded at $48.07 with a market cap of $4.56 billion and a PE of 89.03; the company reported a Q quarter EPS of $0.52 (vs. $0.41 est.) and revenue of $369.43 million (up 14% YoY), while analyst sentiment is mixed with an average rating of "Moderate Buy" and an average price target of $47.60.

Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) EVP Douglas Schafer, Jr. sold 48,000 shares of Miami International stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $47.25, for a total transaction of $2,268,000.00. Following the transaction, the executive vice president directly owned 396,681 shares of the company's stock, valued at approximately $18,743,177.25. This trade represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a 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 Price Performance

NYSE MIAX traded up $0.76 on Tuesday, hitting $48.07. The company had a trading volume of 1,035,198 shares, compared to its average volume of 1,267,720. The company has a market capitalization of $4.56 billion and a PE ratio of 89.03. The company's fifty day moving average price is $41.61 and its 200-day moving average price is $43.13. Miami International Holdings, Inc. has a 12-month low of $28.63 and a 12-month high of $51.38.

Miami International (NYSE:MIAX - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.11. The business had revenue of $369.43 million for the quarter, compared to analysts' expectations of $121.13 million. The firm's revenue for the quarter was up 14.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Miami International Holdings, Inc. will post 1.45 EPS for the current year.

Wall Street Analyst Weigh In

MIAX has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of Miami International from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Miami International in a research note on Friday, March 27th. Zacks Research raised shares of Miami International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods assumed coverage on shares of Miami International in a research note on Wednesday, April 8th. They set a "market perform" rating and a $40.00 target price for the company. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $59.00 target price on shares of Miami International in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $47.60.

Institutional Trading of Miami International

Several hedge funds have recently made changes to their positions in MIAX. Vanguard Group Inc. acquired a new stake in shares of Miami International during the third quarter worth about $55,660,000. Alyeska Investment Group L.P. acquired a new stake in Miami International in the third quarter valued at approximately $50,959,000. Invesco Ltd. raised its holdings in Miami International by 178.8% in the fourth quarter. Invesco Ltd. now owns 1,278,966 shares of the company's stock valued at $56,761,000 after acquiring an additional 820,246 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in Miami International in the third quarter valued at approximately $32,679,000. Finally, North Reef Capital Management LP acquired a new stake in Miami International in the third quarter valued at approximately $29,221,000.

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.

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