Insider Selling: Miami International (NYSE:MIAX) CEO Sells $2,976,400.00 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) CEO Thomas Gallagher sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $42.52, for a total transaction of $2,976,400.00. Following the completion of the transaction, the chief executive officer owned 1,723,275 shares of the company’s stock, valued at $73,273,653. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Price Performance

MIAX stock opened at $42.79 on Friday. The stock has a market capitalization of $4.06 billion and a P/E ratio of 44.57. Miami International Holdings, Inc. has a fifty-two week low of $28.63 and a fifty-two week high of $57.14. The business has a 50-day moving average of $44.04 and a 200-day moving average of $42.87.

Miami International (NYSE:MIAX) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $369.69 million during the quarter, compared to analyst estimates of $122.74 million. The firm’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Equities analysts expect that Miami International Holdings, Inc. will post 1.58 EPS for the current year.

Wall Street Analysts Forecast Growth

MIAX has been the topic of several research analyst reports. Weiss Ratings raised shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. JPMorgan Chase & Co. upped their target price on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Keefe, Bruyette & Woods increased their target price on Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, May 8th. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Morgan Stanley boosted their price target on Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MIAX. State of Wyoming acquired a new position in Miami International during the fourth quarter worth about $26,000. National Bank of Canada FI acquired a new stake in shares of Miami International in 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 acquired a new position in Miami International during the 4th quarter worth approximately $66,000.

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.