Miami International (NYSE:MIAX) EVP Sells $409,906.04 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Harish Jayabalan sold 10,217 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $40.12, for a total value of $409,906.04. Following the sale, the executive vice president directly owned 73,405 shares in the company, valued at $2,945,008.60. This trade represents a 12.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 Tuesday, June 9th, Harish Jayabalan sold 9,783 shares of Miami International stock. The shares were sold at an average price of $40.04, for a total value of $391,711.32.

Miami International Price Performance

Miami International stock opened at $43.24 on Friday. Miami International Holdings, Inc. has a one year low of $28.63 and a one year high of $57.14. The stock has a market capitalization of $4.10 billion and a PE ratio of 45.04. The business’s fifty day moving average is $46.25 and its 200 day moving average is $43.73.

Miami International (NYSE:MIAX) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $369.69 million for the quarter, compared to analysts’ expectations of $122.74 million. During the same period last year, the business earned $0.38 earnings per share. The company’s quarterly revenue was up 40.0% on a year-over-year basis. As a group, sell-side analysts expect that Miami International Holdings, Inc. will post 1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. bought a new position in shares of Miami International in the third quarter worth about $55,660,000. Alyeska Investment Group L.P. bought a new position in shares of Miami International in the third quarter worth about $50,959,000. Invesco Ltd. raised its stake in shares of Miami International by 178.8% in the fourth 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 period. JPMorgan Chase & Co. bought a new position in shares of Miami International in the third quarter worth about $32,679,000. Finally, North Reef Capital Management LP bought a new position in shares of Miami International in the third quarter worth about $29,221,000.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MIAX. Morgan Stanley increased their target price on Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Keefe, Bruyette & Woods increased their target price on Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, May 8th. Rosenblatt Securities increased their target price on Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Weiss Ratings raised Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. increased their target price on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Miami International has an average rating of “Moderate Buy” and an average target price of $51.20.

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.