Miami International (NYSE:MIAX) Stock Price Down 6.9% – Time to Sell?

Miami International Holdings, Inc. (NYSE:MIAX)’s share price traded down 6.9% during mid-day trading on Tuesday . The stock traded as low as $41.48 and last traded at $41.0790. 401,260 shares changed hands during trading, a decline of 71% from the average session volume of 1,367,763 shares. The stock had previously closed at $44.11.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Zacks Research upgraded shares of Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Rosenblatt Securities lifted their target price on shares of Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley lifted their target price on shares of Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, May 8th. 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. According to MarketBeat, Miami International currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.

Miami International Trading Down 8.6%

The firm’s 50-day moving average is $46.33 and its 200 day moving average is $43.72. The firm has a market capitalization of $3.83 billion and a price-to-earnings ratio of 42.04.

Miami International (NYSE:MIAX) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $369.69 million for the quarter, compared to analyst estimates of $122.74 million. The firm’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. Analysts predict that Miami International Holdings, Inc. will post 1.53 EPS for the current year.

Insider Transactions at Miami International

In other news, CEO Thomas P. Gallagher sold 174,125 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $43.36, for a total value of $7,550,060.00. Following the transaction, the chief executive officer owned 1,723,275 shares in the company, valued at approximately $74,721,204. The trade was a 9.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Lance Emmons sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $56.36, for a total transaction of $1,972,600.00. Following the completion of the transaction, the chief financial officer owned 84,262 shares in the company, valued at $4,749,006.32. This trade represents a 29.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 773,871 shares of company stock worth $34,114,399. Company insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mad River Investors lifted its position in shares of Miami International by 0.6% in the 4th quarter. Mad River Investors now owns 75,050 shares of the company’s stock worth $3,331,000 after purchasing an additional 450 shares during the period. State of Wyoming acquired a new position in shares of Miami International in the 4th quarter worth approximately $26,000. National Bank of Canada FI acquired a new position in shares of Miami International in the 3rd quarter worth approximately $29,000. First Trust Advisors LP lifted its position in shares of Miami International by 3.5% in the 4th quarter. First Trust Advisors LP now owns 21,671 shares of the company’s stock worth $962,000 after purchasing an additional 733 shares during the period. Finally, Coastal Bridge Advisors LLC lifted its position in shares of Miami International by 1.1% during the 4th quarter. Coastal Bridge Advisors LLC now owns 77,415 shares of the company’s stock valued at $3,436,000 after acquiring an additional 850 shares during the period.

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.