Thomas Gallagher Sells 54,229 Shares of Miami International (NYSE:MIAX) Stock
by Jessica Moore · The Cerbat GemMiami International Holdings, Inc. (NYSE:MIAX – Get Free Report) CEO Thomas Gallagher sold 54,229 shares of Miami International stock in a transaction on Monday, May 4th. The stock was sold at an average price of $47.26, for a total transaction of $2,562,862.54. Following the transaction, the chief executive officer directly owned 1,723,275 shares of the company’s stock, valued at $81,441,976.50. This represents a 3.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Miami International Price Performance
NYSE MIAX traded up $0.76 during mid-day trading on Tuesday, reaching $48.07. 1,035,198 shares of the stock were exchanged, compared to its average volume of 1,267,720. Miami International Holdings, Inc. has a one year low of $28.63 and a one year high of $51.38. The stock has a 50 day simple moving average of $41.61 and a 200-day simple moving average of $43.13. The stock has a market cap of $4.56 billion and a P/E ratio of 89.08.
Miami International (NYSE:MIAX – Get Free Report) last announced its earnings results 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 firm had revenue of $369.43 million for the quarter, compared to the consensus estimate of $121.13 million. Miami International’s revenue was up 14.0% compared to the same quarter last year. Sell-side analysts anticipate that Miami International Holdings, Inc. will post 1.45 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in Miami International in the fourth quarter valued at about $26,000. National Bank of Canada FI purchased a new position in Miami International in the third quarter valued at about $29,000. Comerica Bank boosted its stake in Miami International by 295.6% in 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 purchased a new position in Miami International in the fourth quarter valued at about $66,000. Finally, Fifth Third Bancorp bought a new stake in shares of Miami International in the first quarter valued at approximately $61,000.
Wall Street Analyst Weigh In
MIAX has been the subject of several research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $59.00 price target on shares of Miami International in a research note on Tuesday, April 7th. Wall Street Zen downgraded shares of Miami International from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Keefe, Bruyette & Woods initiated coverage on shares of Miami International in a research report on Wednesday, April 8th. They set a “market perform” rating and a $40.00 target price for the company. Morgan Stanley boosted their target price on shares of Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Finally, Zacks Research raised shares of Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.60.
Get Our Latest Research Report on Miami International
Miami International Company Profile
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.