Insider Selling: Miami International (NYSE:MIAX) EVP Sells $1,333,600.00 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Douglas Schafer, Jr. sold 40,000 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $33.34, for a total value of $1,333,600.00. Following the transaction, the executive vice president directly owned 387,414 shares of the company’s stock, valued at approximately $12,916,382.76. The trade was a 9.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Trading Up 1.8%

MIAX stock opened at $30.72 on Friday. The firm has a 50-day moving average price of $40.27 and a 200-day moving average price of $42.43. Miami International Holdings, Inc. has a 12 month low of $29.21 and a 12 month high of $57.14. The stock has a market capitalization of $3.05 billion, a P/E ratio of 39.90 and a beta of 1.79.

Miami International (NYSE:MIAX) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. The company had revenue of $387.63 million for the quarter. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The company’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. As a group, equities analysts predict that Miami International Holdings, Inc. will post 1.71 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on MIAX shares. Keefe, Bruyette & Woods increased their price target on Miami International from $46.00 to $48.00 and gave the company 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. Zacks Research raised Miami International from a “hold” rating to a “strong-buy” rating in a report on Friday, September 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Miami International in a research note on Friday, August 7th. Finally, Morgan Stanley cut Miami International from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $53.00 to $50.00 in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.40.

Institutional Trading of Miami International

Several institutional investors have recently modified their holdings of the business. BlueCrest Capital Management Ltd bought a new position in Miami International during the 2nd quarter worth $7,432,000. NewEdge Advisors LLC grew its position in shares of Miami International by 1,646.6% in the 2nd quarter. NewEdge Advisors LLC now owns 681,610 shares of the company’s stock valued at $25,329,000 after buying an additional 642,585 shares during the last quarter. One Charles Private Wealth Services LLC acquired a new stake in shares of Miami International in the second quarter valued at about $4,400,000. Allianz Asset Management GmbH bought a new position in shares of Miami International during the second quarter worth about $13,350,000. Finally, HighTower Advisors LLC raised its position in shares of Miami International by 290.6% during the second quarter. HighTower Advisors LLC now owns 112,298 shares of the company’s stock worth $4,173,000 after acquiring an additional 83,547 shares during the last quarter.

About Miami International

Miami International Holdings, Inc operates financial markets and exchange platforms through its MIAX Exchange Group. The company provides electronic trading venues, market data, and related technology for options and other securities, with an emphasis on high-performance execution and competitive market structure.

Its U.S. exchange portfolio includes the MIAX, MIAX Pearl, MIAX Emerald, and MIAX Sapphire options exchanges, as well as MIAX Pearl Equities. These venues support trading in listed options and equities and are designed to serve market makers, institutional investors, broker-dealers, and other market participants.

Miami International Holdings was founded in 2007, and its flagship MIAX options exchange began operations in 2012.