Insider Selling: Miami International (NYSE:MIAX) EVP Sells $1,907,520.00 in Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Douglas Schafer, Jr. sold 48,000 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $39.74, for a total value of $1,907,520.00. Following the completion of the sale, the executive vice president directly owned 396,681 shares of the company’s stock, valued at approximately $15,764,102.94. The trade was a 10.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Miami International Price Performance

Miami International stock opened at $39.17 on Friday. The stock’s 50 day moving average is $41.34 and its 200 day moving average is $42.54. Miami International Holdings, Inc. has a one year low of $28.63 and a one year high of $51.38. The firm has a market cap of $3.59 billion and a P/E ratio of 72.54.

Miami International (NYSE:MIAX) last released its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.11. The firm had revenue of $369.43 million for the quarter, compared to analyst estimates of $121.13 million. Miami International’s revenue was up 14.0% on a year-over-year basis.

Institutional Investors Weigh In On Miami International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming bought a new position in shares of Miami International during the 4th quarter worth approximately $26,000. National Bank of Canada FI bought a new position in shares of Miami International in the third quarter valued at approximately $29,000. Comerica Bank increased its position in shares of Miami International by 295.6% during the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock valued at $56,000 after acquiring an additional 937 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Miami International during the fourth quarter worth $66,000. Finally, SG Americas Securities LLC bought a new stake in Miami International during the fourth quarter worth $105,000.

Wall Street Analysts Forecast Growth

MIAX has been the subject of a number of analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $59.00 target price on shares of Miami International in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Miami International in a research report on Monday, December 29th. Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Wall Street Zen raised Miami International from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.00.

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.