Harish Jayabalan Sells 9,783 Shares of Miami International (NYSE:MIAX) Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Harish Jayabalan sold 9,783 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $40.04, for a total value of $391,711.32. Following the transaction, the executive vice president owned 73,405 shares in the company, valued at $2,939,136.20. This trade represents a 11.76% decrease in their ownership of the stock. 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.

Harish Jayabalan also recently made the following trade(s):

• On Monday, June 8th, Harish Jayabalan sold 10,217 shares of Miami International stock. The shares were sold at an average price of $40.12, for a total value of $409,906.04.

Miami International Trading Up 1.1%

Shares of Miami International stock opened at $41.26 on Friday. The business’s 50-day moving average price is $46.18 and its 200-day moving average price is $43.73. Miami International Holdings, Inc. has a 12 month low of $28.63 and a 12 month high of $57.14. The firm has a market capitalization of $3.92 billion and a PE ratio of 42.98.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on MIAX. Rosenblatt Securities raised their price target on Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Keefe, Bruyette & Woods raised their price target on shares of Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, May 8th. 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 report on Friday, April 10th. JPMorgan Chase & Co. raised their target price on Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings raised Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.20.

Institutional Investors Weigh In On Miami International

A number of large investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. grew its position in shares of Miami International by 24.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company’s stock worth $134,282,000 after buying an additional 595,096 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Miami International by 39.5% in the 4th quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock worth $85,577,000 after buying an additional 545,770 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its position in shares of Miami International by 31.6% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company’s stock worth $80,763,000 after buying an additional 437,395 shares during the last quarter. Alyeska Investment Group L.P. grew its position in shares of Miami International by 1.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,286,086 shares of the company’s stock worth $57,076,000 after buying an additional 20,350 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Miami International by 178.8% in the 4th quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock worth $56,761,000 after buying an additional 820,246 shares during the last quarter.

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.