Key Points
- Insider sale: EVP Douglas Schafer, Jr. sold 8,000 MIAX shares for approximately $280,480 under a pre-arranged Rule 10b5-1 trading plan, reducing his holdings by 2.02% to 387,414 shares.
- Stock performance: MIAX opened at $33.15 and was trading down 2.4%, with a 12-month range of $29.06 to $57.14 and a market capitalization of roughly $3.29 billion.
- Business and analyst outlook: Miami International exceeded quarterly EPS expectations and reported 34.8% year-over-year revenue growth. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $50, while several institutional investors recently increased their stakes.
Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) EVP Douglas Schafer, Jr. sold 8,000 shares of Miami International stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $35.06, for a total value of $280,480.00. Following the transaction, the executive vice president owned 387,414 shares of the company's stock, valued at $13,582,734.84. The trade was a 2.02% decrease in their position. The sale was disclosed in a legal 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 2.4%
Miami International stock opened at $33.15 on Tuesday. Miami International Holdings, Inc. has a 12 month low of $29.06 and a 12 month high of $57.14. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 23.60 and a beta of 1.79. The business's fifty day simple moving average is $37.41 and its two-hundred day simple moving average is $41.57.
Miami International (NYSE:MIAX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.07. The firm had revenue of $387.63 million during the quarter. Miami International had a return on equity of 16.95% and a net margin of 9.70%. Miami International's revenue was up 34.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 earnings per share. On average, equities research analysts predict that Miami International Holdings, Inc. will post 1.67 EPS for the current year.
Wall Street Analysts Forecast Growth
MIAX has been the subject of a number of analyst reports. Zacks Research upgraded shares of Miami International from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 25th. Keefe, Bruyette & Woods upped their target price on shares of Miami International from $46.00 to $48.00 and gave the stock a "market perform" rating in a research note on Friday, August 7th. Wall Street Zen cut shares of Miami International from a "buy" rating to a "hold" rating in a report on Sunday, August 23rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Miami International in a report on Friday, August 7th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $62.00 price target on shares of Miami International in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $50.00.
Get Our Latest Stock Analysis on MIAX
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Capelight Capital Asset Management LP increased its holdings in Miami International by 35.3% in the 3rd quarter. Capelight Capital Asset Management LP now owns 40,600 shares of the company's stock worth $1,360,000 after buying an additional 10,600 shares in the last quarter. Sterling Capital Management LLC lifted its stake in Miami International by 857.2% during the 3rd quarter. Sterling Capital Management LLC now owns 2,575 shares of the company's stock valued at $86,000 after acquiring an additional 2,306 shares during the period. Nisa Investment Advisors LLC lifted its stake in Miami International by 42.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,641 shares of the company's stock valued at $88,000 after acquiring an additional 785 shares during the period. State of Alaska Department of Revenue bought a new position in Miami International during the 3rd quarter valued at about $108,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Miami International during the 2nd quarter valued at about $7,432,000.
Miami International Company Profile
(
Get Free Report)
Miami International Holdings, Inc (NYSE: MIAX) is a financial exchange operator that owns and manages regulated marketplaces for the trading of options and other securities. Through its exchange platforms, the company provides electronic trading, order matching, market data and related services to brokers, market makers, institutional investors and other market participants.
The company operates the MIAX exchange family, which includes MIAX, MIAX Pearl and MIAX Emerald, as well as related equities and options trading venues.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
