Miami International (NYSE:MIAX) Director Kurt Eckert Sells 5,250 Shares

Miami International Holdings, Inc. (NYSE:MIAX) Director Kurt Eckert sold 5,250 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $42.76, for a total transaction of $224,490.00. Following the completion of the transaction, the director owned 142,375 shares of the company’s stock, valued at approximately $6,087,955. This represents a 3.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Stock Performance

Shares of MIAX stock traded down $0.60 during mid-day trading on Thursday, reaching $39.73. The company’s stock had a trading volume of 1,614,484 shares, compared to its average volume of 1,325,189. Miami International Holdings, Inc. has a 1-year low of $28.63 and a 1-year high of $57.14. The company has a market cap of $3.77 billion and a P/E ratio of 41.38. The firm’s 50-day moving average is $45.98 and its two-hundred day moving average is $43.97.

Miami International (NYSE:MIAX) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. During the same quarter in the prior year, the company posted $0.38 EPS. The company’s quarterly revenue was up 40.0% compared to the same quarter last year. Sell-side analysts anticipate that Miami International Holdings, Inc. will post 1.53 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. JPMorgan Chase & Co. increased their target price 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. Weiss Ratings upgraded shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Rosenblatt Securities increased their target price 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. Finally, Zacks Research upgraded shares of Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.20.

Institutional Investors Weigh In On Miami International

A number of hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC acquired a new stake in shares of Miami International during the 1st quarter worth about $1,519,000. Bank of America Corp DE increased its position in shares of Miami International by 196.5% during the 1st quarter. Bank of America Corp DE now owns 900,882 shares of the company’s stock worth $35,062,000 after purchasing an additional 597,021 shares in the last quarter. Royal Bank of Canada increased its position in Miami International by 553.2% in the 1st quarter. Royal Bank of Canada now owns 10,301 shares of the company’s stock valued at $401,000 after acquiring an additional 8,724 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Miami International by 11.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 163,981 shares of the company’s stock valued at $6,382,000 after acquiring an additional 17,037 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in Miami International in the 1st quarter valued at about $2,160,000.

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.