Insider Selling: Miami International (NYSE:MIAX) EVP Sells $520,080.00 in Stock

Key Points

• Edward Deitzel, MIAX EVP, sold 11,000 shares on May 4 at an average of $47.28 for $520,080 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 8.65% to 116,221 shares; he also sold 12,335 shares in early April.
• MIAX shares traded up 1.6% to $48.07 (market cap ~$4.56B, P/E 89.03) after the company reported a Q that beat EPS estimates ($0.52 vs. $0.41) and 14% revenue growth, and analysts hold a consensus of Moderate Buy with an average target of $47.60.
• Institutional activity shows recent inflows and position increases, with firms such as Atlas Wealth Partners, Atlas Brown and Mad River Investors adding to or initiating stakes while several smaller new positions were reported.

Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) EVP Edward Deitzel sold 11,000 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $47.28, for a total value of $520,080.00. Following the transaction, the executive vice president directly owned 116,221 shares of the company's stock, valued at approximately $5,494,928.88. This trade represents a 8.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 8th, Edward Deitzel sold 7,572 shares of Miami International stock. The shares were sold at an average price of $42.02, for a total value of $318,175.44.
• On Tuesday, April 7th, Edward Deitzel sold 4,763 shares of Miami International stock. The stock was sold at an average price of $42.00, for a total value of $200,046.00.

Miami International Trading Up 1.6%

Shares of MIAX stock traded up $0.76 on Tuesday, hitting $48.07. 1,035,198 shares of the stock were exchanged, compared to its average volume of 1,267,720. The firm has a market capitalization of $4.56 billion and a PE ratio of 89.03. Miami International Holdings, Inc. has a one year low of $28.63 and a one year high of $51.38. The firm's 50 day moving average is $41.61 and its two-hundred day moving average is $43.13.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MIAX shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of Miami International in a research note on Friday, March 27th. Zacks Research upgraded shares of Miami International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. Wall Street Zen lowered shares of Miami International from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Morgan Stanley lifted their price objective on shares of Miami International from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $59.00 price objective on shares of Miami International in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Miami International has a consensus rating of "Moderate Buy" and an average target price of $47.60.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp bought a new position in shares of Miami International in the first quarter worth $61,000. Atlas Wealth Partners LLC increased its holdings in shares of Miami International by 54.1% in the first quarter. Atlas Wealth Partners LLC now owns 37,707 shares of the company's stock worth $1,468,000 after purchasing an additional 13,233 shares during the period. New York State Teachers Retirement System bought a new position in shares of Miami International in the first quarter worth $84,000. Mad River Investors increased its holdings in shares of Miami International by 8.3% in the first quarter. Mad River Investors now owns 81,250 shares of the company's stock worth $3,162,000 after purchasing an additional 6,200 shares during the period. Finally, Atlas Brown Inc. bought a new position in shares of Miami International in the first quarter worth $1,984,000.

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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