Miami International Holdings, Inc. (NYSE:MIAX) Receives Average Recommendation of “Hold” from Analysts

Miami International Holdings, Inc. (NYSE:MIAX) has been given an average recommendation of “Hold” by the nine brokerages that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $51.80.

MIAX has been the subject of a number of research reports. Morgan Stanley boosted their price target on shares of Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. raised their price objective on Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Rosenblatt Securities lifted their target price on Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings raised Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th.

Miami International Trading Up 0.6%

MIAX stock opened at $46.46 on Thursday. The stock has a market cap of $4.41 billion and a P/E ratio of 48.40. Miami International has a twelve month low of $28.63 and a twelve month high of $57.14. The company’s 50 day moving average is $42.12 and its two-hundred day moving average is $42.78.

Miami International (NYSE:MIAX) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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. The company’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 EPS. On average, equities research analysts predict that Miami International will post 1.58 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Thomas P. Gallagher sold 70,000 shares of the stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $42.52, for a total value of $2,976,400.00. Following the completion of the sale, the chief executive officer directly owned 1,723,275 shares of the company’s stock, valued at approximately $73,273,653. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Shelly Brown sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $42.13, for a total transaction of $674,080.00. Following the transaction, the executive vice president owned 353,990 shares in the company, valued at approximately $14,913,598.70. This trade represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 720,854 shares of company stock valued at $31,679,840 in the last 90 days. Company insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MIAX. Handelsbanken Fonder AB purchased a new stake in shares of Miami International in the second quarter valued at about $743,000. Sapient Capital LLC acquired a new stake in shares of Miami International during the second quarter worth about $989,000. Assenagon Asset Management S.A. purchased a new position in shares of Miami International during the second quarter worth about $11,067,000. NewEdge Advisors LLC purchased a new position in shares of Miami International during the first quarter worth about $1,519,000. Finally, Bank of America Corp DE increased its position in Miami International by 196.5% in the 1st quarter. Bank of America Corp DE now owns 900,882 shares of the company’s stock valued at $35,062,000 after acquiring an additional 597,021 shares during the period.

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.