Analysts Set Miami International Holdings, Inc. (NYSE:MIAX) Price Target at $48.00

Miami International Holdings, Inc. (NYSE:MIAX) has received a consensus recommendation of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $48.00.

A number of brokerages have issued reports on MIAX. Zacks Research cut shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Miami International in a report on Friday, March 27th. Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Rosenblatt Securities restated a “buy” rating and set a $59.00 price objective on shares of Miami International in a research report on Thursday, March 5th.

Miami International Price Performance

MIAX stock opened at $40.15 on Friday. The firm has a market cap of $3.68 billion and a price-to-earnings ratio of 74.34. Miami International has a 1-year low of $28.63 and a 1-year high of $51.38. The firm has a fifty day moving average price of $40.56 and a two-hundred day moving average price of $42.67.

Miami International (NYSE:MIAX) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.11. The business had revenue of $369.43 million during the quarter, compared to the consensus estimate of $121.13 million. The business’s quarterly revenue was up 14.0% on a year-over-year basis.

Insider Activity

In other Miami International news, Director Murray Stahl sold 121,054 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $40.92, for a total transaction of $4,953,529.68. Following the completion of the transaction, the director directly owned 4,689,466 shares of the company’s stock, valued at $191,892,948.72. The trade was a 2.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Shelly Brown sold 25,932 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $39.33, for a total transaction of $1,019,905.56. Following the completion of the transaction, the executive vice president owned 299,197 shares of the company’s stock, valued at approximately $11,767,418.01. This trade represents a 7.98% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 232,903 shares of company stock worth $9,359,718.

Hedge Funds Weigh In On Miami International

Several hedge funds and other institutional investors have recently made changes to their positions in MIAX. Caitong International Asset Management Co. Ltd acquired a new stake in Miami International in the 4th quarter valued at approximately $66,000. T. Rowe Price Investment Management Inc. boosted its position in 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 worth $134,282,000 after acquiring an additional 595,096 shares during the period. Invesco Ltd. boosted its position in Miami International by 178.8% during the 4th quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock worth $56,761,000 after acquiring an additional 820,246 shares during the period. Delta Global Management LP grew its stake in shares of Miami International by 452.6% in the fourth quarter. Delta Global Management LP now owns 279,029 shares of the company’s stock worth $12,383,000 after purchasing an additional 228,531 shares in the last quarter. Finally, Coastal Bridge Advisors LLC increased its holdings in shares of Miami International by 1.1% during the fourth quarter. Coastal Bridge Advisors LLC now owns 77,415 shares of the company’s stock valued at $3,436,000 after purchasing an additional 850 shares during the period.

Miami International Company Profile

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.