Miami International (NYSE:MIAX) CEO Sells $7,550,060.00 in Stock
by Scott Moore · The Cerbat GemMiami International Holdings, Inc. (NYSE:MIAX – Get Free Report) CEO Thomas Gallagher sold 174,125 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $43.36, for a total transaction of $7,550,060.00. Following the completion of the sale, the chief executive officer owned 1,723,275 shares of the company’s stock, valued at approximately $74,721,204. The trade was a 9.18% decrease in their ownership of the stock. The sale was disclosed in a legal 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 0.8%
Shares of MIAX traded up $0.36 during mid-day trading on Friday, reaching $45.21. The company’s stock had a trading volume of 820,680 shares, compared to its average volume of 1,330,913. The stock has a market cap of $4.14 billion and a PE ratio of 83.71. Miami International Holdings, Inc. has a 52 week low of $28.63 and a 52 week high of $51.38. The company’s fifty day moving average price is $40.69 and its two-hundred day moving average price is $42.87.
Miami International (NYSE:MIAX – Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.11. The business had revenue of $369.43 million during the quarter, compared to the consensus estimate of $121.13 million. The business’s revenue for the quarter was up 14.0% on a year-over-year basis.
Analysts Set New Price Targets
MIAX has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Miami International in a research note on Friday, March 27th. Keefe, Bruyette & Woods initiated coverage on shares of Miami International in a research note on Wednesday, April 8th. They issued a “market perform” rating and a $40.00 target price on the stock. Zacks Research raised shares of Miami International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $59.00 target price on shares of Miami International in a research note on Tuesday, April 7th. Finally, Wall Street Zen downgraded shares of Miami International from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.60.
Get Our Latest Stock Analysis on Miami International
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new position in Miami International during the 3rd quarter valued at $17,684,000. Coastal Bridge Advisors LLC purchased a new position in Miami International during the 3rd quarter valued at $3,083,000. Victory Capital Management Inc. purchased a new position in Miami International during the 3rd quarter valued at $12,168,000. Federated Hermes Inc. purchased a new position in Miami International during the 3rd quarter valued at $10,065,000. Finally, Pekin Hardy Strauss Inc. purchased a new position in Miami International during the 3rd quarter valued at $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.