Miami International (NYSE:MIAX) Stock Price Down 6.9% – Time to Sell?

Miami International Holdings, Inc. (NYSE:MIAX) shares dropped 6.9% on Tuesday . The stock traded as low as $41.48 and last traded at $41.0790. Approximately 401,260 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 1,367,763 shares. The stock had previously closed at $44.11.

Wall Street Analysts Forecast Growth

MIAX has been the topic of several research analyst reports. Zacks Research raised shares of Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Rosenblatt Securities raised their price target on shares of Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings raised shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Morgan Stanley raised their price target on shares of Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Finally, JPMorgan Chase & Co. raised 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. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Miami International presently has an average rating of “Moderate Buy” and an average target price of $51.20.

Miami International Price Performance

The firm has a market capitalization of $3.83 billion and a P/E ratio of 42.04. The business’s 50-day moving average is $46.33 and its 200 day moving average is $43.72.

Miami International (NYSE:MIAX) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $369.69 million for the quarter, compared to the consensus estimate of $122.74 million. During the same period in the prior year, the business posted $0.38 earnings per share. Miami International’s revenue was up 40.0% compared to the same quarter last year. Analysts anticipate that Miami International Holdings, Inc. will post 1.53 EPS for the current fiscal year.

Insider Transactions at Miami International

In other Miami International news, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $47.25, for a total value of $2,268,000.00. Following the transaction, the executive vice president directly owned 396,681 shares of the company’s stock, valued at $18,743,177.25. This trade represents a 10.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Barbara J. Comly sold 29,667 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $43.64, for a total transaction of $1,294,667.88. Following the completion of the transaction, the executive vice president directly owned 843,844 shares in the company, valued at approximately $36,825,352.16. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 773,871 shares of company stock worth $34,114,399. Corporate insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Miami International

Hedge funds have recently bought and sold shares of the company. State of Wyoming bought a new stake in shares of Miami International during the 4th quarter valued at approximately $26,000. National Bank of Canada FI bought a new stake in shares of Miami International during the 3rd quarter valued at approximately $29,000. Comerica Bank grew its holdings in shares of 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 purchasing an additional 937 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of Miami International during the 1st quarter valued at approximately $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Miami International during the 4th quarter valued at approximately $66,000.

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.