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

Miami International Holdings, Inc. (NYSE:MIAX) CEO Thomas Gallagher sold 149,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $41.13, for a total transaction of $6,157,161.00. Following the sale, the chief executive officer owned 1,423,275 shares of the company’s stock, valued at $58,539,300.75. This represents a 9.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 Price Performance

NYSE MIAX opened at $42.58 on Friday. The firm’s fifty day moving average price is $41.83 and its 200 day moving average price is $42.94. The company has a market capitalization of $4.23 billion and a price-to-earnings ratio of 55.30. Miami International Holdings, Inc. has a 12 month low of $32.19 and a 12 month high of $57.14.

Miami International (NYSE:MIAX) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The firm had revenue of $387.63 million during the quarter. During the same period last year, the firm earned $0.48 earnings per share. Miami International’s revenue was up 34.8% on a year-over-year basis. As a group, sell-side analysts forecast that Miami International Holdings, Inc. will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. State of Wyoming purchased a new position in Miami International in the 4th quarter valued at $26,000. National Bank of Canada FI purchased a new position in Miami International during the 3rd quarter worth $29,000. Comerica Bank raised its position in Miami International by 295.6% during the 4th quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after buying an additional 937 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Miami International in the 4th quarter worth $66,000. Finally, Fifth Third Bancorp purchased a new stake in shares of Miami International in the first quarter valued at about $61,000.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MIAX. Morgan Stanley raised their price target on Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Wall Street Zen raised Miami International from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Zacks Research lowered shares of Miami International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Rosenblatt Securities raised their target price on shares of Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.