Miami International Holdings, Inc. (NYSE:MIAX) Given Consensus Recommendation of “Hold” by Analysts

Shares of Miami International Holdings, Inc. (NYSE:MIAX) have been given an average rating of “Hold” by the nine ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $47.20.

A number of brokerages recently weighed in on MIAX. Piper Sandler raised their price objective on Miami International from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Zacks Research downgraded Miami International from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Weiss Ratings reissued a “sell (d+)” rating on shares of Miami International in a research report on Monday, December 29th. Keefe, Bruyette & Woods upped their price objective on shares of Miami International from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Thursday, November 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $55.00 target price on shares of Miami International in a research note on Tuesday, December 9th.

Miami International Stock Performance

MIAX stock opened at $40.54 on Thursday. The firm has a market cap of $3.30 billion and a price-to-earnings ratio of 2,027.00. Miami International has a 1 year low of $28.63 and a 1 year high of $51.38. The firm has a fifty day simple moving average of $43.86.

Miami International (NYSE:MIAX) last posted its earnings results on Wednesday, November 5th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. Miami International’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 EPS.

Hedge Funds Weigh In On Miami International

A number of institutional investors have recently made changes to their positions in MIAX. Vanguard Group Inc. boosted its stake in Miami International by 39.5% during the 4th quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock valued at $85,577,000 after purchasing an additional 545,770 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Miami International during the third quarter worth approximately $50,959,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Miami International by 105.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 932,053 shares of the company’s stock worth $40,684,000 after buying an additional 478,385 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Miami International in the third quarter valued at approximately $32,679,000. Finally, North Reef Capital Management LP acquired a new stake in shares of Miami International in the third quarter worth $29,221,000.

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.