Thomas Gallagher Sells 70,000 Shares of Miami International (NYSE:MIAX) Stock

Miami International Holdings, Inc. (NYSE:MIAX) CEO Thomas Gallagher sold 70,000 shares of the firm’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $42.52, for a total value of $2,976,400.00. Following the completion of the sale, the chief executive officer directly owned 1,723,275 shares in the company, valued at approximately $73,273,653. This represents a 3.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Miami International Price Performance

Miami International stock opened at $42.48 on Thursday. Miami International Holdings, Inc. has a one year low of $28.63 and a one year high of $57.14. The stock’s 50 day moving average is $44.18 and its 200 day moving average is $42.89. The firm has a market cap of $4.03 billion and a P/E ratio of 44.25.

Miami International (NYSE:MIAX) last released its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $369.69 million for the quarter, compared to analyst estimates of $122.74 million. The company’s revenue for the quarter was up 40.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. Equities analysts anticipate that Miami International Holdings, Inc. will post 1.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MIAX has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods boosted their price objective on Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, May 8th. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Morgan Stanley boosted their price target on shares of Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Miami International has an average rating of “Hold” and a consensus target price of $51.80.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MIAX. BNP Paribas Financial Markets purchased a new stake in Miami International during the fourth quarter worth about $8,477,000. Vanguard Group Inc. grew its position in shares of Miami International by 39.5% during the 4th quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock valued at $85,577,000 after acquiring an additional 545,770 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of Miami International during the 3rd quarter valued at approximately $1,833,000. Seven Grand Managers LLC increased its stake in shares of Miami International by 33.3% during the 4th quarter. Seven Grand Managers LLC now owns 400,000 shares of the company’s stock worth $17,752,000 after purchasing an additional 100,000 shares during the last quarter. Finally, King Luther Capital Management Corp bought a new stake in shares of Miami International in the 4th quarter worth approximately $4,607,000.

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.