Miami International (NYSE:MIAX) Reaches New 1-Year Low – Should You Sell?

Shares of Miami International Holdings, Inc. (NYSE:MIAX) reached a new 52-week low on Wednesday. The stock traded as low as $29.06 and last traded at $29.7030, with a volume of 84,788 shares traded. The stock had previously closed at $29.55.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Miami International in a research note on Friday, August 7th. Keefe, Bruyette & Woods raised their target price on Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 target price on shares of Miami International in a research note on Friday, October 2nd. Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Finally, Zacks Research upgraded Miami International from a “hold” rating to a “strong-buy” rating in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Miami International Stock Up 3.5%

The business has a 50-day moving average price of $38.67 and a two-hundred day moving average price of $42.14. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 20.64 and a beta of 1.79.

Miami International (NYSE:MIAX) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. The business 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 business’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 EPS. On average, sell-side analysts anticipate that Miami International Holdings, Inc. will post 1.67 EPS for the current fiscal year.

Insider Activity

In other Miami International news, EVP Douglas Schafer, Jr. sold 48,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $40.48, for a total value of $1,943,040.00. Following the transaction, the executive vice president directly owned 387,414 shares of the company’s stock, valued at approximately $15,682,518.72. This trade represents a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Shelly Brown sold 21,217 shares of Miami International stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $38.61, for a total transaction of $819,188.37. Following the transaction, the executive vice president owned 316,490 shares of the company’s stock, valued at $12,219,678.90. This represents a 6.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 497,415 shares of company stock valued at $20,696,726. 15.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Miami International

A number of institutional investors and hedge funds have recently made changes to their positions in MIAX. SG Americas Securities LLC lifted its position in Miami International by 48.9% in the 1st quarter. SG Americas Securities LLC now owns 3,537 shares of the company’s stock valued at $138,000 after acquiring an additional 1,162 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Miami International during the 4th quarter worth approximately $66,000. Fifth Third Bancorp bought a new stake in Miami International during the 1st quarter worth approximately $61,000. Swiss National Bank increased its holdings in Miami International by 6.3% during the 1st quarter. Swiss National Bank now owns 33,800 shares of the company’s stock worth $1,315,000 after purchasing an additional 2,000 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in shares of Miami International in the first quarter worth approximately $84,000.

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.