Miami International Holdings, Inc. (NYSE:MIAX) Receives Average Recommendation of “Hold” from Analysts

Miami International Holdings, Inc. (NYSE:MIAX) has received a consensus recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $51.80.

Several research analysts have commented on the stock. Rosenblatt Securities lifted their price objective on shares of Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods upped their price target on shares of Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, May 8th. Zacks Research downgraded shares of Miami International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Weiss Ratings upgraded Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th.

Insiders Place Their Bets

In other Miami International news, CFO Lance Emmons sold 35,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $56.36, for a total value of $1,972,600.00. Following the transaction, the chief financial officer owned 84,262 shares of the company’s stock, valued at $4,749,006.32. This represents a 29.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 70,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $42.36, for a total value of $2,965,200.00. Following the completion of the sale, the chief executive officer owned 1,723,275 shares in the company, valued at approximately $72,997,929. The trade was a 3.90% decrease in their position. 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 555,000 shares of company stock worth $23,841,231 in the last 90 days. 15.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Miami International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new position in shares of Miami International during the fourth quarter worth approximately $26,000. National Bank of Canada FI bought a new position in Miami International in the third quarter worth approximately $29,000. Comerica Bank grew its stake in Miami International by 295.6% in the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after purchasing an additional 937 shares in the last quarter. Fifth Third Bancorp purchased a new position in Miami International during the 1st quarter worth $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Miami International during the 4th quarter valued at $66,000.

Miami International Stock Performance

Shares of Miami International stock opened at $46.90 on Thursday. The stock has a market cap of $4.45 billion and a price-to-earnings ratio of 48.86. The stock has a 50 day moving average price of $41.83 and a 200-day moving average price of $42.88. Miami International has a one year low of $28.63 and a one year high of $57.14.

Miami International (NYSE:MIAX) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $369.69 million for the quarter, compared to analysts’ expectations of $122.74 million. During the same quarter in the previous year, the company posted $0.38 EPS. The business’s quarterly revenue was up 40.0% on a year-over-year basis. Sell-side analysts predict that Miami International will post 1.59 earnings per share for the current fiscal year.

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.