Miami International Holdings, Inc. (NYSE:MIAX) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Miami International Holdings, Inc. (NYSE:MIAX) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $50.00.

Several equities analysts recently weighed in on MIAX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Miami International in a research report on Friday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Miami International in a report on Friday, October 2nd. Morgan Stanley lowered their target price on Miami International from $50.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, October 9th. Keefe, Bruyette & Woods lifted their price target on Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, August 7th. Finally, Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd.

Insiders Place Their Bets

In other Miami International news, EVP Shelly Brown sold 21,217 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $38.61, for a total value of $819,188.37. Following the completion of the sale, the executive vice president directly owned 316,490 shares of the company’s stock, valued at $12,219,678.90. This represents a 6.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 47,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $42.43, for a total transaction of $1,994,210.00. Following the completion of the sale, the chief executive officer owned 1,423,275 shares in the company, valued at $60,389,558.25. This represents a 3.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 497,415 shares of company stock valued at $20,696,726 in the last 90 days. 15.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in shares of Miami International by 48.9% in the first quarter. SG Americas Securities LLC now owns 3,537 shares of the company’s stock valued at $138,000 after buying an additional 1,162 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Miami International during the fourth quarter worth about $66,000. Fifth Third Bancorp bought a new position in Miami International during the first quarter valued at about $61,000. Swiss National Bank raised its holdings in Miami International by 6.3% in the 1st quarter. Swiss National Bank now owns 33,800 shares of the company’s stock valued at $1,315,000 after acquiring an additional 2,000 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new position in Miami International in the 1st quarter valued at approximately $84,000.

Miami International Price Performance

Shares of MIAX opened at $30.88 on Tuesday. The company has a market capitalization of $3.06 billion, a PE ratio of 40.10 and a beta of 1.79. Miami International has a one year low of $29.06 and a one year high of $57.14. The company’s fifty day moving average price is $38.41 and its 200 day moving average price is $42.06.

Miami International (NYSE:MIAX) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The company had revenue of $387.63 million during the quarter. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The firm’s revenue was up 34.8% on a year-over-year basis. During the same quarter last year, the company earned $0.48 earnings per share. Analysts anticipate that Miami International will post 1.67 earnings per share for the current year.

Miami International Company Profile

Miami International Holdings, Inc operates financial markets and exchange platforms through its MIAX Exchange Group. The company provides electronic trading venues, market data, and related technology for options and other securities, with an emphasis on high-performance execution and competitive market structure.

Its U.S. exchange portfolio includes the MIAX, MIAX Pearl, MIAX Emerald, and MIAX Sapphire options exchanges, as well as MIAX Pearl Equities. These venues support trading in listed options and equities and are designed to serve market makers, institutional investors, broker-dealers, and other market participants.

Miami International Holdings was founded in 2007, and its flagship MIAX options exchange began operations in 2012.