Miami International Holdings, Inc. (NYSE:MIAX) Stock Now Rated “Hold” by Sell-Side Brokerages

Miami International Holdings, Inc. (NYSE:MIAX) has been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $49.00.

MIAX has been the subject of several recent analyst reports. Morgan Stanley dropped their price target on Miami International from $50.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, October 9th. Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 26th. Rosenblatt Securities lowered their price target on shares of Miami International from $62.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, October 27th. Keefe, Bruyette & Woods lifted their price target on shares of Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, August 7th. Finally, Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd.

Miami International Price Performance

Shares of Miami International stock opened at $34.50 on Friday. The company has a market capitalization of $3.42 billion, a P/E ratio of 12.78 and a beta of 1.73. Miami International has a 1 year low of $29.06 and a 1 year high of $57.14. The business has a 50 day moving average price of $35.57 and a 200 day moving average price of $41.11.

Miami International (NYSE:MIAX) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. Miami International had a return on equity of 19.93% and a net margin of 19.75%. The firm had revenue of $376.18 million for the quarter. During the same quarter last year, the company earned $0.42 earnings per share. The business’s revenue was up 243.6% on a year-over-year basis. As a group, research analysts expect that Miami International will post 1.76 EPS for the current fiscal year.

Insider Activity at Miami International

In related news, CEO Thomas Gallagher sold 149,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $41.13, for a total transaction of $6,157,161.00. Following the completion of the sale, the chief executive officer directly owned 1,423,275 shares of the company’s stock, valued at $58,539,300.75. The trade was a 9.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Douglas Schafer, Jr. sold 48,000 shares of Miami International stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $40.48, for a total transaction of $1,943,040.00. Following the completion of the transaction, the executive vice president directly owned 387,414 shares in the company, valued at $15,682,518.72. This trade represents a 11.02% 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. Insiders have sold 517,574 shares of company stock valued at $20,002,691 in the last 90 days. 15.60% of the stock is owned by company insiders.

Institutional Trading of Miami International

A number of hedge funds and other institutional investors have recently made changes to their positions in MIAX. Atlas Wealth Partners LLC boosted its stake in shares of Miami International by 1.7% in the 3rd quarter. Atlas Wealth Partners LLC now owns 39,190 shares of the company’s stock valued at $1,313,000 after purchasing an additional 660 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Miami International by 42.3% in the third quarter. Nisa Investment Advisors LLC now owns 2,641 shares of the company’s stock worth $88,000 after buying an additional 785 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Miami International by 48.9% during the 1st quarter. SG Americas Securities LLC now owns 3,537 shares of the company’s stock valued at $138,000 after purchasing an additional 1,162 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Miami International by 98.0% in the third quarter. Fifth Third Bancorp now owns 2,530 shares of the company’s stock valued at $85,000 after purchasing an additional 1,252 shares during the period. Finally, State of Wyoming increased its position in Miami International by 15.5% during the third quarter. State of Wyoming now owns 10,755 shares of the company’s stock worth $360,000 after buying an additional 1,442 shares in the last quarter.

Miami International Company Profile

Miami International Holdings, Inc (NYSE: MIAX) is a financial exchange operator that owns and manages regulated marketplaces for the trading of options and other securities. Through its exchange platforms, the company provides electronic trading, order matching, market data and related services to brokers, market makers, institutional investors and other market participants.

The company operates the MIAX exchange family, which includes MIAX, MIAX Pearl and MIAX Emerald, as well as related equities and options trading venues.