Miami International (NYSE:MIAX) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

Miami International Holdings, Inc. (NYSE:MIAX) shares passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $35.26 and traded as high as $35.88. Miami International shares last traded at $35.7290, with a volume of 775,858 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MIAX shares. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Morgan Stanley decreased their price objective on Miami International from $50.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, October 9th. Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 26th. Rosenblatt Securities reduced their price target on shares of Miami International from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, October 27th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Miami International currently has a consensus rating of “Hold” and a consensus price target of $49.00.

Miami International Trading Down 2.0%

The firm has a fifty day moving average of $35.07 and a 200 day moving average of $40.96. The company has a market capitalization of $3.61 billion, a P/E ratio of 19.71 and a beta of 1.73.

Miami International (NYSE:MIAX) last announced its earnings results on Thursday, October 29th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.09. The business had revenue of $376.18 million for the quarter. Miami International had a return on equity of 19.06% and a net margin of 19.75%. The company’s revenue for the quarter was up 243.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. Sell-side analysts anticipate that Miami International Holdings, Inc. will post 1.76 EPS for the current fiscal year.

Insider Transactions at Miami International

In other Miami International news, EVP Douglas Schafer, Jr. sold 48,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $40.48, for a total transaction of $1,943,040.00. Following the completion of the transaction, the executive vice president owned 387,414 shares in the company, valued at $15,682,518.72. This trade represents a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas Gallagher sold 149,700 shares of Miami International stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $41.13, for a total value of $6,157,161.00. Following the completion of the transaction, the chief executive officer owned 1,423,275 shares of the company’s stock, valued at approximately $58,539,300.75. This represents a 9.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 517,574 shares of company stock valued at $20,002,691 in the last ninety days. Corporate insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Miami International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ieq Capital LLC purchased a new position in Miami International during the third quarter valued at approximately $210,000. Focus Advisor Solutions LLC lifted its holdings in Miami International by 4.9% during the third quarter. Focus Advisor Solutions LLC now owns 143,454 shares of the company’s stock worth $4,806,000 after buying an additional 6,718 shares during the period. Public Sector Pension Investment Board purchased a new stake in Miami International during the third quarter worth $3,986,000. EagleClaw Capital Managment LLC boosted its position in Miami International by 127.0% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 131,185 shares of the company’s stock valued at $4,395,000 after acquiring an additional 73,385 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in Miami International by 3.0% during the 3rd quarter. Moors & Cabot Inc. now owns 122,507 shares of the company’s stock valued at $4,104,000 after acquiring an additional 3,603 shares in the last quarter.

Miami International Company Profile

Miami International Holdings, Inc. (MIAX) operates financial exchanges and provides trading technology and related services. Its U.S. platforms include options exchanges and an equities exchange, serving market participants such as broker-dealers, institutional investors and trading firms. The company also operates MIAX Futures, which offers futures and options contracts, and owns the Bermuda Stock Exchange. Its businesses serve U.S. markets as well as participants in Bermuda and other international markets.