Key Points
- CEO Thomas Gallagher sold 149,700 MIAX shares for approximately $6.16 million at an average price of $41.13. The sale occurred under a pre-arranged Rule 10b5-1 plan to cover tax obligations tied to vested equity awards, reducing his holdings by 9.52%.
- Miami International reported quarterly EPS of $0.48, exceeding the $0.41 consensus estimate, while revenue rose 34.8% year over year to $387.63 million.
- Analyst sentiment remains mixed, with four Buy ratings and five Holds producing an average “Hold” rating and a $52 price target; MIAX recently traded near $41.30.
Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) CEO Thomas Gallagher sold 149,700 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $41.13, for a total value of $6,157,161.00. Following the transaction, the chief executive officer owned 1,423,275 shares in the company, valued at approximately $58,539,300.75. This represents a 9.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Miami International Stock Performance
MIAX stock opened at $41.30 on Friday. Miami International Holdings, Inc. has a 1 year low of $31.60 and a 1 year high of $57.14. The firm has a market cap of $4.10 billion and a P/E ratio of 53.64. The stock has a 50-day simple moving average of $41.84 and a 200-day simple moving average of $42.94.
Miami International (NYSE:MIAX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. The firm had revenue of $387.63 million for the quarter. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The business's revenue was up 34.8% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. On average, equities research analysts predict that Miami International Holdings, Inc. will post 1.69 EPS for the current year.
Analysts Set New Price Targets
A number of research firms have recently commented on MIAX. Zacks Research cut shares of Miami International from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Morgan Stanley lifted their price target on shares of Miami International from $50.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, July 10th. Rosenblatt Securities boosted their price objective on shares of Miami International from $61.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Miami International in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded Miami International from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $52.00.
View Our Latest Research Report on Miami International
Hedge Funds Weigh In On Miami International
Institutional investors have recently made changes to their positions in the business. Grandeur Peak Global Advisors LLC grew its position in shares of Miami International by 20.6% during the second quarter. Grandeur Peak Global Advisors LLC now owns 19,018 shares of the company's stock worth $707,000 after buying an additional 3,247 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Miami International in the second quarter valued at $5,618,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Miami International by 36.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,824 shares of the company's stock valued at $662,000 after acquiring an additional 4,714 shares during the last quarter. Goodwin Investment Advisory bought a new position in Miami International during the 2nd quarter valued at $1,041,000. Finally, Coastal Bridge Advisors LLC acquired a new position in Miami International during the 2nd quarter worth $6,829,000.
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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