Key Points
- Miami International EVP Barbara Comly sold 28,000 shares on July 13 at an average price of $41.98, totaling about $1.18 million. The sale was made under a pre-arranged Rule 10b5-1 plan, leaving her with 882,984 shares.
- MIAX shares were down 2.9% and opened at $41.10, near the middle of their 52-week range of $28.63 to $57.14. The company currently has a market cap of about $3.9 billion and trades at a P/E ratio of 42.81.
- The company reported strong Q1 earnings, with EPS of $0.42 beating expectations and revenue of $369.69 million, up 40% year over year. Wall Street sentiment is mixed, with an overall Hold rating and an average price target of $51.80.
Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) EVP Barbara Comly sold 28,000 shares of the company's stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $41.98, for a total value of $1,175,440.00. Following the completion of the transaction, the executive vice president directly owned 882,984 shares in the company, valued at $37,067,668.32. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Miami International Trading Down 2.9%
Miami International stock opened at $41.10 on Wednesday. Miami International Holdings, Inc. has a 12 month low of $28.63 and a 12 month high of $57.14. The stock has a fifty day simple moving average of $44.28 and a two-hundred day simple moving average of $42.93. The firm has a market cap of $3.90 billion and a price-to-earnings ratio of 42.81.
Miami International (NYSE:MIAX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The business had revenue of $369.69 million for the quarter, compared to the consensus estimate of $122.74 million. During the same period in the previous year, the company earned $0.38 earnings per share. The company's revenue for the quarter was up 40.0% compared to the same quarter last year. On average, equities research analysts forecast that Miami International Holdings, Inc. will post 1.6 EPS for the current fiscal year.
Institutional Investors Weigh In On Miami International
Large investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its position in shares of Miami International by 24.5% during the 4th 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 during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Miami International by 39.5% in the fourth quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company's stock worth $85,577,000 after buying an additional 545,770 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted its holdings in shares of 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 worth $80,763,000 after buying an additional 437,395 shares during the last quarter. Alyeska Investment Group L.P. grew its position in Miami International by 1.6% during 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 buying an additional 20,350 shares during the period. Finally, Invesco Ltd. grew its position in Miami International by 178.8% during the fourth quarter. Invesco Ltd. now owns 1,278,966 shares of the company's stock valued at $56,761,000 after buying an additional 820,246 shares during the period.
Wall Street Analyst Weigh In
Several research firms have issued reports on MIAX. Weiss Ratings upgraded shares of Miami International from a "sell (d+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on shares of Miami International from $41.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Miami International from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Zacks Research cut shares of Miami International from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Finally, Rosenblatt Securities lifted their target price on shares of Miami International from $59.00 to $61.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $51.80.
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About Miami International
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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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