Kurt Eckert Sells 5,250 Shares of Miami International (NYSE:MIAX) Stock

Miami International Holdings, Inc. (NYSE:MIAX) Director Kurt Eckert sold 5,250 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $42.76, for a total transaction of $224,490.00. Following the completion of the sale, the director owned 142,375 shares of the company’s stock, valued at $6,087,955. The trade was a 3.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Stock Performance

MIAX traded down $0.60 during midday trading on Thursday, hitting $39.73. The company had a trading volume of 1,614,484 shares, compared to its average volume of 1,325,189. The company has a market capitalization of $3.77 billion and a PE ratio of 41.38. Miami International Holdings, Inc. has a twelve month low of $28.63 and a twelve month high of $57.14. The firm’s 50-day simple moving average is $45.98 and its 200-day simple moving average is $43.97.

Miami International (NYSE:MIAX) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $122.74 million. The company’s revenue was up 40.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. As a group, sell-side analysts anticipate that Miami International Holdings, Inc. will post 1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MIAX. Caprock Group LLC bought a new position in Miami International during the 3rd quarter worth approximately $376,000. JPMorgan Chase & Co. bought a new position in Miami International during the 3rd quarter worth approximately $32,679,000. Texas Yale Capital Corp. bought a new position in Miami International during the 3rd quarter worth approximately $201,000. Vanguard Group Inc. bought a new position in Miami International during the 3rd quarter worth approximately $55,660,000. Finally, Readystate Asset Management LP bought a new position in Miami International during the 3rd quarter worth approximately $503,000.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MIAX. Weiss Ratings raised shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. raised their target price on shares of Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Zacks Research raised shares of Miami International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Morgan Stanley raised their target price on shares of Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Finally, Rosenblatt Securities raised their target price on shares of Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.20.

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.