Insider Selling: Miami International (NYSE:MIAX) EVP Sells $1,362,800.00 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Douglas Schafer, Jr. sold 40,000 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $34.07, for a total value of $1,362,800.00. Following the completion of the sale, the executive vice president directly owned 387,414 shares in the company, valued at approximately $13,199,194.98. This represents a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Price Performance

MIAX opened at $34.50 on Friday. The stock has a 50-day moving average price of $35.57 and a 200-day moving average price of $41.11. The firm has a market cap of $3.45 billion, a PE ratio of 12.78 and a beta of 1.73. Miami International Holdings, Inc. has a 1 year low of $29.06 and a 1 year high of $57.14.

Miami International (NYSE:MIAX) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. Miami International had a net margin of 19.75% and a return on equity of 19.06%. The company had revenue of $376.18 million for the quarter. During the same quarter in the previous year, the firm earned $0.42 EPS. The business’s revenue for the quarter was up 243.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Miami International Holdings, Inc. will post 1.76 EPS for the current year.

Institutional Trading of Miami International

Several large investors have recently modified their holdings of MIAX. EagleClaw Capital Managment LLC raised its holdings in Miami International by 127.0% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 131,185 shares of the company’s stock worth $4,395,000 after purchasing an additional 73,385 shares during the period. Moors & Cabot Inc. lifted its position in Miami International by 3.0% during the third quarter. Moors & Cabot Inc. now owns 122,507 shares of the company’s stock valued at $4,104,000 after purchasing an additional 3,603 shares in the last quarter. Fifth Third Bancorp lifted its position in Miami International by 98.0% during the third quarter. Fifth Third Bancorp now owns 2,530 shares of the company’s stock valued at $85,000 after purchasing an additional 1,252 shares in the last quarter. Lido Advisors LLC bought a new stake in Miami International during the third quarter valued at about $6,792,000. Finally, Atlas Wealth Partners LLC grew its holdings in Miami International by 1.7% during the third quarter. Atlas Wealth Partners LLC now owns 39,190 shares of the company’s stock valued at $1,313,000 after purchasing an additional 660 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MIAX shares. Rosenblatt Securities cut their price target on shares of Miami International from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Keefe, Bruyette & Woods raised 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. Weiss Ratings lowered shares of Miami International from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, October 28th. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Finally, Zacks Research cut Miami International from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 26th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Miami International currently has a consensus rating of “Hold” and an average price target of $49.00.

About Miami International

Miami International Holdings, Inc (NYSE: MIAX) is a financial exchange operator that owns and manages regulated marketplaces for the trading of options and other securities. Through its exchange platforms, the company provides electronic trading, order matching, market data and related services to brokers, market makers, institutional investors and other market participants.

The company operates the MIAX exchange family, which includes MIAX, MIAX Pearl and MIAX Emerald, as well as related equities and options trading venues.