Miami International (NYSE:MIAX) EVP Edward Deitzel Sells 11,000 Shares of Stock

Key Points

• Executive sale: EVP Edward Deitzel sold 11,000 MIAX shares for approximately $503,580 at an average price of $45.78 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 8.42% to 119,601 shares.
• Strong quarterly results: Miami International reported adjusted earnings of $0.48 per share, beating estimates by $0.07, while revenue rose 34.8% year over year to $387.63 million.
• Mixed market view: Shares recently traded near $45.38, while analysts maintain a consensus “Hold” rating and a $52.00 price target; institutional investors including Vanguard and Franklin Resources recently initiated positions.

Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) EVP Edward Deitzel sold 11,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $45.78, for a total transaction of $503,580.00. Following the completion of the sale, the executive vice president directly owned 119,601 shares of the company's stock, valued at $5,475,333.78. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, July 6th, Edward Deitzel sold 11,000 shares of Miami International stock. The shares were sold at an average price of $42.04, for a total transaction of $462,440.00.
• On Tuesday, June 2nd, Edward Deitzel sold 11,000 shares of Miami International stock. The shares were sold at an average price of $42.16, for a total transaction of $463,760.00.

Miami International Trading Down 1.3%

Miami International stock traded down $0.58 during mid-day trading on Thursday, hitting $45.38. 1,947,036 shares of the company's stock were exchanged, compared to its average volume of 1,552,097. The stock has a market cap of $4.31 billion and a P/E ratio of 47.27. Miami International Holdings, Inc. has a 1-year low of $28.63 and a 1-year high of $57.14. The stock has a 50 day moving average of $41.66 and a two-hundred day moving average of $42.92.

Miami International (NYSE:MIAX - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.07. The company had revenue of $387.63 million for the quarter. Miami International's quarterly revenue was up 34.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 EPS. As a group, research analysts predict that Miami International Holdings, Inc. will post 1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. bought a new stake in shares of Miami International in the third quarter valued at approximately $55,660,000. First Trust Advisors LP bought a new position in Miami International during the third quarter worth $843,000. Legal & General Group Plc acquired a new position in Miami International during the 3rd quarter valued at $302,000. Franklin Resources Inc. bought a new stake in Miami International in the 3rd quarter valued at $17,403,000. Finally, Sei Investments Co. acquired a new stake in Miami International in the 3rd quarter worth $4,074,000.

Wall Street Analyst Weigh In

MIAX has been the subject of a number of recent analyst reports. Zacks Research cut Miami International from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Rosenblatt Securities boosted their price objective on shares of Miami International from $61.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday. Keefe, Bruyette & Woods upped their price objective on shares of Miami International from $40.00 to $48.00 and gave the stock a "market perform" rating in a report on Friday, May 8th. Wall Street Zen lowered shares of Miami International from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. Finally, Weiss Ratings upgraded shares of Miami International from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Miami International presently has an average rating of "Hold" and a consensus price target of $52.00.

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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