Brokerages Set Miami International Holdings, Inc. (NYSE:MIAX) Target Price at $51.20

Shares of Miami International Holdings, Inc. (NYSE:MIAX) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $51.20.

Several equities analysts recently commented on the company. Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Keefe, Bruyette & Woods upped their target price on Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a research note on Friday, May 8th. Weiss Ratings upgraded Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Zacks Research upgraded Miami International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Finally, Morgan Stanley upped their target price on Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, April 10th.

Miami International Stock Down 8.7%

NYSE MIAX opened at $40.25 on Wednesday. Miami International has a fifty-two week low of $28.63 and a fifty-two week high of $57.14. The stock has a market cap of $3.82 billion and a price-to-earnings ratio of 41.93. The business has a fifty day moving average of $46.33 and a 200-day moving average of $43.68.

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, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $369.69 million during the quarter, compared to analyst estimates of $122.74 million. During the same period last year, the firm earned $0.38 earnings per share. The business’s revenue was up 40.0% compared to the same quarter last year. As a group, analysts anticipate that Miami International will post 1.53 EPS for the current year.

Insider Transactions at Miami International

In related 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 completion of the transaction, the chief financial officer directly owned 84,262 shares in the company, valued at approximately $4,749,006.32. This represents a 29.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Barbara J. Comly sold 29,667 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $43.64, for a total value of $1,294,667.88. Following the completion of the transaction, the executive vice president owned 843,844 shares of the company’s stock, valued at $36,825,352.16. The trade was a 3.40% 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 three months, insiders sold 773,871 shares of company stock valued at $34,114,399. Corporate insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Miami International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mad River Investors increased its stake in Miami International by 0.6% during the fourth quarter. Mad River Investors now owns 75,050 shares of the company’s stock worth $3,331,000 after acquiring an additional 450 shares during the last quarter. State of Wyoming acquired a new stake in Miami International during the fourth quarter worth about $26,000. National Bank of Canada FI acquired a new stake in Miami International during the third quarter worth about $29,000. First Trust Advisors LP increased its stake in Miami International by 3.5% during the fourth quarter. First Trust Advisors LP now owns 21,671 shares of the company’s stock worth $962,000 after acquiring an additional 733 shares during the last quarter. Finally, Coastal Bridge Advisors LLC increased its stake in Miami International by 1.1% during the fourth quarter. Coastal Bridge Advisors LLC now owns 77,415 shares of the company’s stock worth $3,436,000 after acquiring an additional 850 shares during the last quarter.

About Miami International

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.