Thomas Gallagher Sells 47,000 Shares of Miami International (NYSE:MIAX) Stock

Key Points

• CEO Thomas Gallagher sold 47,000 MIAX shares at an average price of $42.43, generating nearly $2.0 million. The sale occurred under a pre-arranged Rule 10b5-1 trading plan, leaving him with 1.42 million shares.
• MIAX shares fell 0.5% to $42.50, while the company reported quarterly EPS of $0.48, beating estimates by $0.07. Revenue rose 34.8% year over year to $387.63 million.
• Analysts maintain a consensus “Hold” rating, with a $51.40 average price target; three analysts recommend buying while six rate the stock a hold.

Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) CEO Thomas Gallagher sold 47,000 shares of the firm's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $42.43, for a total transaction of $1,994,210.00. Following the completion of the transaction, the chief executive officer directly owned 1,423,275 shares of the company's stock, valued at approximately $60,389,558.25. This represents a 3.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Stock Down 0.5%

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. Miami International Holdings, Inc. has a 12-month low of $34.02 and a 12-month high of $57.14. The stock has a market capitalization of $4.22 billion and a P/E ratio of 55.20. The business has a fifty day moving average price of $42.72 and a 200-day moving average price of $43.05.

Miami International (NYSE:MIAX - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.48 EPS 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 return on equity of 16.95% and a net margin of 9.70%.The company's revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. As a group, research analysts predict that Miami International Holdings, Inc. will post 1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in Miami International during the 4th quarter worth $26,000. National Bank of Canada FI acquired a new position in Miami International during the third quarter worth about $29,000. Comerica Bank grew its stake in Miami International by 295.6% during the 4th quarter. Comerica Bank now owns 1,254 shares of the company's stock valued at $56,000 after acquiring an additional 937 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Miami International in the 4th quarter valued at about $66,000. Finally, Fifth Third Bancorp purchased a new position in Miami International in the 1st quarter worth approximately $61,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MIAX. Rosenblatt Securities lifted their price objective on shares of Miami International from $61.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Wall Street Zen lowered Miami International from a "buy" rating to a "hold" rating in a research report on Sunday, August 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Miami International in a report on Friday, August 7th. Zacks Research cut shares of Miami International from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Miami International from $41.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $51.40.

Miami International Company Profile

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.