Shelly Brown Sells 25,932 Shares of Miami International (NYSE:MIAX) Stock

Miami International Holdings, Inc. (NYSE:MIAX) EVP Shelly Brown sold 25,932 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $39.33, for a total transaction of $1,019,905.56. Following the completion of the sale, the executive vice president directly owned 299,197 shares of the company’s stock, valued at approximately $11,767,418.01. This trade represents a 7.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Miami International Price Performance

Shares of MIAX stock opened at $38.19 on Friday. The company has a market capitalization of $3.50 billion and a P/E ratio of 70.72. The company’s 50-day simple moving average is $41.06 and its two-hundred day simple moving average is $42.63. Miami International Holdings, Inc. has a one year low of $28.63 and a one year high of $51.38.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Miami International in the 3rd quarter worth approximately $17,684,000. Coastal Bridge Advisors LLC purchased a new stake in Miami International during the third quarter valued at approximately $3,083,000. Victory Capital Management Inc. acquired a new stake in Miami International in the third quarter valued at approximately $12,168,000. Federated Hermes Inc. acquired a new stake in Miami International in the third quarter valued at approximately $10,065,000. Finally, Pekin Hardy Strauss Inc. purchased a new position in Miami International in the third quarter worth $1,033,000.

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.