Insider Selling: Miami International (NYSE:MIAX) EVP Sells $280,480.00 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Douglas Schafer, Jr. sold 8,000 shares of the stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $35.06, for a total transaction of $280,480.00. Following the completion of the transaction, the executive vice president directly owned 387,414 shares of the company’s stock, valued at approximately $13,582,734.84. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a 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.

Miami International Stock Performance

Miami International stock opened at $31.95 on Thursday. The stock’s 50 day simple moving average is $36.81 and its two-hundred day simple moving average is $41.41. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 41.49 and a beta of 1.79. Miami International Holdings, Inc. has a fifty-two week low of $29.06 and a fifty-two week high of $57.14.

Miami International (NYSE:MIAX) last posted its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. Miami International had a return on equity of 16.95% and a net margin of 9.70%. The firm had revenue of $387.63 million for the quarter. During the same quarter last year, the company posted $0.48 EPS. The firm’s revenue was up 34.8% on a year-over-year basis. On average, analysts predict that Miami International Holdings, Inc. will post 1.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MIAX shares. Keefe, Bruyette & Woods upped their price target on Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, August 7th. Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Morgan Stanley dropped their target price on shares of Miami International from $50.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, October 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miami International in a research report on Friday, August 7th. Finally, Zacks Research lowered shares of Miami International from a “strong-buy” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Miami International has an average rating of “Hold” and a consensus target price of $49.60.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MIAX. State of Wyoming grew its stake in shares of Miami International by 15.5% in the third quarter. State of Wyoming now owns 10,755 shares of the company’s stock worth $360,000 after acquiring an additional 1,442 shares during the last quarter. Mad River Investors raised its position in shares of Miami International by 2.8% in the 3rd quarter. Mad River Investors now owns 297,157 shares of the company’s stock worth $9,955,000 after purchasing an additional 8,157 shares during the last quarter. Capelight Capital Asset Management LP raised its position in shares of Miami International by 35.3% in the 3rd quarter. Capelight Capital Asset Management LP now owns 40,600 shares of the company’s stock worth $1,360,000 after purchasing an additional 10,600 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Miami International by 857.2% in the 3rd quarter. Sterling Capital Management LLC now owns 2,575 shares of the company’s stock worth $86,000 after purchasing an additional 2,306 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Miami International by 42.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,641 shares of the company’s stock worth $88,000 after purchasing an additional 785 shares in the last quarter.

Miami International Company Profile

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.