Shelly Brown Sells 16,000 Shares of Miami International (NYSE:MIAX) Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Shelly Brown sold 16,000 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $47.28, for a total transaction of $756,480.00. Following the completion of the sale, the executive vice president owned 325,047 shares of the company’s stock, valued at $15,368,222.16. This represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Shelly Brown also recently made the following trade(s):

• On Wednesday, April 8th, Shelly Brown sold 16,434 shares of Miami International stock. The shares were sold at an average price of $42.08, for a total transaction of $691,542.72.
• On Tuesday, April 7th, Shelly Brown sold 900 shares of Miami International stock. The stock was sold at an average price of $42.00, for a total transaction of $37,800.00.
• On Monday, April 6th, Shelly Brown sold 2,357 shares of Miami International stock. The stock was sold at an average price of $41.33, for a total transaction of $97,414.81.
• On Monday, March 23rd, Shelly Brown sold 25,932 shares of Miami International stock. The shares were sold at an average price of $39.33, for a total transaction of $1,019,905.56.

Miami International Trading Up 1.6%

NYSE:MIAX traded up $0.76 during mid-day trading on Tuesday, hitting $48.07. The company’s stock had a trading volume of 1,035,198 shares, compared to its average volume of 1,267,720. Miami International Holdings, Inc. has a fifty-two week low of $28.63 and a fifty-two week high of $51.38. The company has a market capitalization of $4.56 billion and a price-to-earnings ratio of 89.03. The stock has a fifty day moving average of $41.61 and a 200-day moving average of $43.13.

Miami International (NYSE:MIAX) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.11. The business had revenue of $369.43 million during the quarter, compared to analyst estimates of $121.13 million. Miami International’s revenue was up 14.0% compared to the same quarter last year. On average, equities analysts anticipate that Miami International Holdings, Inc. will post 1.45 earnings per share for the current fiscal year.

Institutional Trading of Miami International

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming acquired a new stake in shares of Miami International in the fourth quarter valued at approximately $26,000. National Bank of Canada FI acquired a new stake in shares of Miami International in the third quarter valued at approximately $29,000. Comerica Bank increased its holdings in shares of Miami International by 295.6% in the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock valued at $56,000 after purchasing an additional 937 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Miami International in the fourth quarter valued at approximately $66,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Miami International in the first quarter valued at approximately $61,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MIAX. Rosenblatt Securities reaffirmed a “buy” rating and set a $59.00 price objective on shares of Miami International in a report on Tuesday, April 7th. Zacks Research raised shares of Miami International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Miami International in a report on Friday, March 27th. Morgan Stanley increased their target price on Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Finally, Keefe, Bruyette & Woods initiated coverage on Miami International in a report on Wednesday, April 8th. They set a “market perform” rating and a $40.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.60.

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.