Key Points
- Miami International CFO Lance Emmons sold 35,000 shares on May 15 at an average price of $56.36, totaling about $1.97 million. The sale, made under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 29.35%.
- The company recently posted strong quarterly results, with earnings of $0.42 per share beating estimates and revenue rising 40% year over year to $369.69 million. Analysts now expect full-year EPS of 1.53.
- Despite mixed analyst calls, MIAX currently carries an average rating of “Moderate Buy” with a consensus price target of $51.20. The stock was trading near its 52-week high, opening at $54.41.
Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) CFO Lance Emmons sold 35,000 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $56.36, for a total value of $1,972,600.00. Following the completion of the transaction, the chief financial officer owned 84,262 shares of the company's stock, valued at $4,749,006.32. The trade was a 29.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Miami International Price Performance
Shares of NYSE MIAX opened at $54.41 on Tuesday. The stock has a market capitalization of $5.16 billion and a price-to-earnings ratio of 56.67. The business has a 50-day moving average of $43.81 and a 200-day moving average of $43.81. Miami International Holdings, Inc. has a fifty-two week low of $28.63 and a fifty-two week high of $57.14.
Miami International (NYSE:MIAX - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $369.69 million during the quarter, compared to the consensus estimate of $122.74 million. During the same period in the prior year, the business posted $0.38 earnings per share. Miami International's quarterly revenue was up 40.0% compared to the same quarter last year. On average, sell-side analysts expect that Miami International Holdings, Inc. will post 1.53 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on MIAX shares. Wall Street Zen cut shares of Miami International from a "buy" rating to a "hold" rating in a research note on Sunday. Zacks Research upgraded Miami International from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 15th. Weiss Ratings upgraded Miami International from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Rosenblatt Securities lifted their price target on Miami International from $59.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods lifted their price target on Miami International from $40.00 to $48.00 and gave the stock a "market perform" rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Miami International currently has an average rating of "Moderate Buy" and an average target price of $51.20.
View Our Latest Stock Report on MIAX
Institutional Investors Weigh In On Miami International
A number of institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of Miami International by 553.2% during the first quarter. Royal Bank of Canada now owns 10,301 shares of the company's stock worth $401,000 after acquiring an additional 8,724 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Miami International by 11.6% in the first quarter. The Manufacturers Life Insurance Company now owns 163,981 shares of the company's stock valued at $6,382,000 after acquiring an additional 17,037 shares during the period. Quantinno Capital Management LP bought a new stake in shares of Miami International in the first quarter valued at about $2,160,000. Delta Global Management LP boosted its position in shares of Miami International by 3.1% in the first quarter. Delta Global Management LP now owns 287,659 shares of the company's stock valued at $11,196,000 after acquiring an additional 8,630 shares during the period. Finally, Entropy Technologies LP bought a new stake in shares of Miami International in the first quarter valued at about $1,560,000.
About Miami International
(
Get Free Report)
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.
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