Thomas Gallagher Sells 149,700 Shares of Miami International (NYSE:MIAX) Stock

Key Points

• CEO Thomas Gallagher sold 149,700 MIAX shares at an average price of $41.13, generating approximately $6.16 million. The sale, conducted under a Rule 10b5-1 plan, covered tax-withholding obligations tied to vested equity awards and reduced his direct stake by 9.52%.
• Miami International reported quarterly EPS of $0.48, beating estimates of $0.41, while revenue rose 34.8% year over year to $387.63 million. The stock recently traded at $41.30, with a market capitalization of about $4.10 billion.
• Analyst sentiment remains mixed, with four Buy ratings and five Holds; the consensus rating is Hold and the average price target is $52.00. Several institutional investors, including Vanguard and Renaissance Technologies, recently increased their positions.

Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) CEO Thomas Gallagher sold 149,700 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $41.13, for a total value of $6,157,161.00. Following the completion of the transaction, the chief executive officer directly owned 1,423,275 shares of the company's stock, valued at $58,539,300.75. The trade was a 9.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Miami International Trading Up 1.7%

MIAX traded up $0.70 during trading on Thursday, hitting $41.30. The company's stock had a trading volume of 1,238,693 shares, compared to its average volume of 1,531,140. The firm has a market capitalization of $4.10 billion and a price-to-earnings ratio of 53.64. The business's fifty day simple moving average is $41.84 and its 200 day simple moving average is $42.95. Miami International Holdings, Inc. has a twelve month low of $31.60 and a twelve month high of $57.14.

Miami International (NYSE:MIAX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.07. The firm had revenue of $387.63 million for the quarter. Miami International had a net margin of 9.70% and a return on equity of 16.95%. Miami International's revenue was up 34.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 EPS. As a group, equities research analysts forecast that Miami International Holdings, Inc. will post 1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in shares of Miami International in the fourth quarter valued at approximately $8,477,000. Vanguard Group Inc. boosted its stake in Miami International by 39.5% during the fourth quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company's stock worth $85,577,000 after buying an additional 545,770 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Miami International in the 1st quarter valued at $5,834,000. Renaissance Technologies LLC grew its holdings in Miami International by 39.2% in the 1st quarter. Renaissance Technologies LLC now owns 271,500 shares of the company's stock valued at $10,567,000 after buying an additional 76,401 shares in the last quarter. Finally, Seven Grand Managers LLC increased its stake in shares of Miami International by 33.3% in the 4th quarter. Seven Grand Managers LLC now owns 400,000 shares of the company's stock worth $17,752,000 after acquiring an additional 100,000 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MIAX. JPMorgan Chase & Co. upped their price target on shares of Miami International from $41.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Rosenblatt Securities boosted their price objective on Miami International from $61.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Morgan Stanley increased their target price on Miami International from $50.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, July 10th. Wall Street Zen raised Miami International from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Finally, Keefe, Bruyette & Woods raised their price objective on Miami International from $46.00 to $48.00 and gave the company a "market perform" rating in a report on Friday, August 7th. Four investment 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 currently has an average rating of "Hold" and an average target price of $52.00.

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.

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