Key Points
- EVP Harish Jayabalan sold 10,217 Miami International shares on June 8 at an average price of $40.12, totaling about $409,906. The sale cut his direct stake by 12.22% and was made under a pre-arranged Rule 10b5-1 plan.
- Miami International stock was up 2.4% and opened at $40.75, with the company carrying a $3.87 billion market cap and a P/E ratio of 42.44. The shares have traded between a 52-week low of $28.63 and a high of $57.14.
- The company recently reported strong quarterly results, with EPS of $0.42 beating estimates and revenue of $369.69 million, up 40% year over year. Analysts currently rate MIAX as a Moderate Buy with a consensus price target of $51.20.
Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) EVP Harish Jayabalan sold 9,783 shares of the firm's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $40.04, for a total value of $391,711.32. Following the completion of the transaction, the executive vice president owned 73,405 shares in the company, valued at $2,939,136.20. The trade was a 11.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Harish Jayabalan also recently made the following trade(s):
- On Monday, June 8th, Harish Jayabalan sold 10,217 shares of Miami International stock. The stock was sold at an average price of $40.12, for a total value of $409,906.04.
Miami International Trading Up 2.4%
Shares of MIAX opened at $40.75 on Thursday. The firm has a market cap of $3.87 billion and a P/E ratio of 42.44. Miami International Holdings, Inc. has a 12-month low of $28.63 and a 12-month high of $57.14. The company's 50-day moving average price is $46.13 and its 200 day moving average price is $43.75.
Miami International (NYSE:MIAX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $369.69 million during the quarter, compared to analysts' expectations of $122.74 million. The firm's quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 earnings per share. Equities research analysts forecast that Miami International Holdings, Inc. will post 1.53 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on MIAX shares. Morgan Stanley lifted their target price on Miami International from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, April 10th. Wall Street Zen downgraded Miami International from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Keefe, Bruyette & Woods lifted their target price on Miami International from $40.00 to $48.00 and gave the company a "market perform" rating in a research report on Friday, May 8th. Zacks Research raised Miami International from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. Finally, Rosenblatt Securities lifted their target price on Miami International from $59.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. One investment 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.20.
Check Out Our Latest Report on Miami International
Hedge Funds Weigh In On Miami International
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. boosted its holdings in Miami International by 24.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company's stock valued at $134,282,000 after purchasing an additional 595,096 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Miami International by 39.5% in the fourth quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company's stock valued at $85,577,000 after purchasing an additional 545,770 shares in the last quarter. Horizon Kinetics Asset Management LLC boosted its holdings in Miami International by 31.6% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company's stock valued at $80,763,000 after purchasing an additional 437,395 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in Miami International by 1.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,286,086 shares of the company's stock valued at $57,076,000 after purchasing an additional 20,350 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Miami International by 178.8% in the fourth quarter. Invesco Ltd. now owns 1,278,966 shares of the company's stock valued at $56,761,000 after purchasing an additional 820,246 shares in the last quarter.
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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