Miami International (NYSE:MIAX) Stock: Insider Douglas Schafer, Jr. Sells 8,000 Shares

Miami International Holdings, Inc. (NYSE:MIAX) EVP Douglas Schafer, Jr. sold 8,000 shares of Miami International stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $35.06, for a total value of $280,480.00. Following the completion of the sale, the executive vice president directly owned 387,414 shares of the company’s stock, valued at approximately $13,582,734.84. The trade was a 2.02% 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

Shares of MIAX stock traded down $0.83 during mid-day trading on Monday, hitting $33.15. The company’s stock had a trading volume of 1,069,276 shares, compared to its average volume of 1,564,388. Miami International Holdings, Inc. has a 52-week low of $29.06 and a 52-week high of $57.14. The business has a 50-day moving average price of $37.39 and a 200 day moving average price of $41.85. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 43.06 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 analysts’ consensus estimates of $0.41 by $0.07. Miami International had a return on equity of 16.95% and a net margin of 9.70%. The firm had revenue of $387.63 million for the quarter. During the same period in the previous year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was up 34.8% compared to the same quarter last year. Equities research analysts predict that Miami International Holdings, Inc. will post 1.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a research note on Friday, August 7th. Morgan Stanley dropped their price target on shares of Miami International from $50.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, October 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Miami International in a research note on Friday, August 7th. Wall Street Zen cut shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Finally, Zacks Research upgraded shares of Miami International from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Miami International currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Hedge Funds Weigh In On Miami International

A number of institutional investors and hedge funds have recently modified their holdings of MIAX. BlackRock Inc. purchased a new position in shares of Miami International in the 2nd quarter worth $188,466,000. J Digital 6 LLC purchased a new stake in Miami International during the second quarter valued at $67,157,000. Bank of America Corp DE bought a new position in Miami International in the second quarter valued at about $31,845,000. NewEdge Advisors LLC lifted its holdings in Miami International by 1,646.6% in the second quarter. NewEdge Advisors LLC now owns 681,610 shares of the company’s stock valued at $25,329,000 after acquiring an additional 642,585 shares during the period. Finally, Caldwell Investment Management Ltd. purchased a new position in Miami International in the second quarter worth about $22,279,000.

About Miami International

Miami International Holdings, Inc (NYSE: MIAX) is a financial exchange operator that owns and manages regulated marketplaces for the trading of options and other securities. Through its exchange platforms, the company provides electronic trading, order matching, market data and related services to brokers, market makers, institutional investors and other market participants.

The company operates the MIAX exchange family, which includes MIAX, MIAX Pearl and MIAX Emerald, as well as related equities and options trading venues.