Miami International (NYSE:MIAX) CEO Thomas Gallagher Sells 70,000 Shares

Miami International Holdings, Inc. (NYSE:MIAX) CEO Thomas Gallagher sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $42.52, for a total value of $2,976,400.00. Following the sale, the chief executive officer directly owned 1,723,275 shares in the company, valued at $73,273,653. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Price Performance

NYSE:MIAX opened at $41.10 on Wednesday. The firm has a market capitalization of $3.90 billion and a price-to-earnings ratio of 42.81. Miami International Holdings, Inc. has a 1 year low of $28.63 and a 1 year high of $57.14. The business has a 50 day simple moving average of $44.28 and a 200-day simple moving average of $42.93.

Miami International (NYSE:MIAX) last released its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating 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 period in the prior year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 40.0% compared to the same quarter last year. As a group, analysts expect that Miami International Holdings, Inc. will post 1.6 earnings per share for the current fiscal year.

Institutional Trading of Miami International

A number of large investors have recently made changes to their positions in the stock. State of Wyoming bought a new stake in Miami International during the 4th quarter valued at about $26,000. National Bank of Canada FI purchased a new stake in Miami International in the 3rd quarter valued at about $29,000. Comerica Bank grew its stake in Miami International by 295.6% in the 4th quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after acquiring an additional 937 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Miami International during the fourth quarter worth approximately $66,000. Finally, Fifth Third Bancorp purchased a new position in shares of Miami International during the first quarter worth approximately $61,000.

Analysts Set New Price Targets

MIAX has been the topic of a number of analyst reports. 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. JPMorgan Chase & Co. lifted their price target on shares of Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Morgan Stanley upped their price target on shares of Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $51.80.

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.