Miami International Holdings, Inc. (NYSE:MIAX) Receives $48.00 Consensus Target Price from Brokerages

Shares of Miami International Holdings, Inc. (NYSE:MIAX) have been assigned an average recommendation of “Hold” from the nine research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $48.00.

MIAX has been the topic of a number of research reports. Zacks Research lowered shares of Miami International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Wall Street Zen upgraded shares of Miami International from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Miami International in a research report on Monday, December 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $59.00 price objective on shares of Miami International in a research note on Thursday.

Insider Buying and Selling

In related news, Director Murray Stahl purchased 7,200 shares of Miami International stock in a transaction that occurred on Wednesday, March 4th. The stock was bought at an average cost of $43.38 per share, for a total transaction of $312,336.00. Following the completion of the transaction, the director owned 4,633,842 shares in the company, valued at $201,016,065.96. The trade was a 0.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Miami International

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new stake in shares of Miami International during the 3rd quarter worth approximately $55,660,000. Alyeska Investment Group L.P. acquired a new position in shares of Miami International in the 3rd quarter valued at $50,959,000. Invesco Ltd. lifted its stake in shares of Miami International by 178.8% in the 4th quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock valued at $56,761,000 after purchasing an additional 820,246 shares during the period. JPMorgan Chase & Co. purchased a new stake in Miami International during the third quarter worth $32,679,000. Finally, North Reef Capital Management LP acquired a new stake in Miami International during the third quarter valued at $29,221,000.

Miami International Trading Down 3.4%

Shares of NYSE MIAX opened at $40.93 on Monday. The firm has a 50 day moving average price of $42.29. The stock has a market capitalization of $3.33 billion and a price-to-earnings ratio of 75.80. Miami International has a 52 week low of $28.63 and a 52 week high of $51.38.

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 for the quarter, compared to analysts’ expectations of $121.13 million. Miami International’s revenue was up 14.0% on a year-over-year basis.

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.