Miami International Holdings, Inc. (NYSE:MIAX) Receives $51.20 Average PT from Brokerages

Shares of Miami International Holdings, Inc. (NYSE:MIAX) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $51.20.

MIAX has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, May 8th. Rosenblatt Securities lifted their price target 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. Zacks Research upgraded shares of Miami International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Morgan Stanley upped their price objective on shares of Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Finally, Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday.

Miami International Stock Down 2.6%

NYSE MIAX opened at $51.91 on Friday. The stock’s 50-day simple moving average is $44.28 and its two-hundred day simple moving average is $43.94. Miami International has a twelve month low of $28.63 and a twelve month high of $57.14. The company has a market capitalization of $4.93 billion and a price-to-earnings ratio of 54.07.

Miami International (NYSE:MIAX) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $369.69 million during the quarter, compared to analysts’ expectations of $122.74 million. Miami International’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. On average, equities analysts expect that Miami International will post 1.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Miami International

In related news, Director Judson Gray Teekell sold 3,000 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $47.30, for a total transaction of $141,900.00. Following the completion of the sale, the director directly owned 56,338 shares in the company, valued at $2,664,787.40. This represents a 5.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Edward Deitzel sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $47.28, for a total value of $520,080.00. Following the transaction, the executive vice president owned 116,221 shares in the company, valued at approximately $5,494,928.88. The trade was a 8.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 722,175 shares of company stock valued at $31,648,266.

Institutional Trading of Miami International

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wyoming purchased a new stake in Miami International during the 4th quarter valued at $26,000. National Bank of Canada FI purchased a new stake in shares of Miami International in the 3rd quarter worth about $29,000. Comerica Bank grew its holdings 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 during the period. Fifth Third Bancorp bought a new position in Miami International during the 1st quarter valued at approximately $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Miami International during the fourth quarter valued at $66,000.

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.