Form 4: MIAX Director Murray Stahl Boosts Stake with Stock Purchase

Miami International Holdings Director Murray Stahl reported an indirect purchase of 7,200 common shares and disclosed existing direct ownership of vested stock options.

Summary

• Murray Stahl, a Director of Miami International Holdings, Inc. (MIAX), reported an indirect acquisition of 7,200 shares of common stock.
• The common stock was purchased on March 4, 2026, at a price of $43.38 per share.
• Following this transaction, 4,696,666 shares are beneficially owned indirectly through Horizon Kinetics Asset Management LLC.
• Mr. Stahl also directly holds fully vested stock options for a total of 34,331 shares of Miami International Holdings Inc. common stock.
• These options have various exercise prices ranging from $16.14 to $25.98 and expiration dates between July 31, 2031, and March 26, 2033.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this filing positively due to the insider purchase, which typically signals management confidence in the company's future prospects and valuation.

Positives

• A director's purchase of company stock signals confidence in the company's future prospects and valuation.
• The reported options held by Mr. Stahl are fully vested, indicating long-term commitment and alignment with shareholder interests.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance regarding the company's future performance.

Management Comments

• Murray Stahl serves as Chairman, Chief Executive Officer, and Chief Investment Officer of Horizon Kinetics Asset Management LLC ('HKAM'), which manages funds and accounts that hold securities of the Issuer.
• Mr. Stahl does not exercise investment discretion with respect to the securities of the Issuer that are beneficially owned by the Managed Accounts.
• Mr. Stahl disclaims beneficial ownership over the securities reported, except to the extent of his pecuniary interest therein, if any.

Industry Context

StockSavvy.ai notes that insider purchases, particularly by a director, are often interpreted by the market as a positive signal, suggesting that those closest to the company believe its shares are undervalued or that significant positive developments are anticipated. This transaction could be viewed as a vote of confidence in Miami International Holdings' strategic direction and operational performance.

Related Party Transactions

• The indirect acquisition of 7,200 shares and beneficial ownership of 4,696,666 shares are held through Horizon Kinetics Asset Management LLC, where Murray Stahl serves as Chairman, Chief Executive Officer, and Chief Investment Officer.

Stakeholder Impact

• Shareholders may interpret the director's purchase as a positive indicator of the company's intrinsic value and future performance, potentially boosting investor confidence.

Key Dates

Recommendation

The insider purchase by a director, especially one holding significant roles at an asset management firm that also holds company shares, is a strong signal of confidence. This action suggests that the insider believes the stock is currently undervalued or expects positive developments, making it a favorable time for investors to consider buying.

Keywords

MIAX, Insider Trading, Stock Purchase, Director, Options, Murray Stahl, Horizon Kinetics, SEC Form 4