Miami International Holdings, Inc. (NYSE:MIAX) Receives $51.20 Consensus Price Target from Brokerages

Miami International Holdings, Inc. (NYSE:MIAX) has been given an average rating of “Moderate Buy” by the nine research firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $51.20.

A number of research firms recently issued reports on MIAX. Zacks Research raised Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Rosenblatt Securities lifted their price objective on Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. JPMorgan Chase & Co. lifted their price objective on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley lifted their price objective on Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, April 10th.

Insider Activity

In related news, CEO Thomas P. Gallagher sold 54,229 shares of Miami International stock in a transaction on Monday, May 4th. The stock was sold at an average price of $47.26, for a total transaction of $2,562,862.54. Following the completion of the sale, the chief executive officer owned 1,723,275 shares of the company’s stock, valued at approximately $81,441,976.50. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Lance Emmons sold 35,000 shares of Miami International stock in a transaction on Friday, May 15th. The shares were sold at an average price of $56.36, for a total value of $1,972,600.00. Following the sale, the chief financial officer directly owned 84,262 shares of the company’s stock, valued at approximately $4,749,006.32. The trade was a 29.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 722,175 shares of company stock valued at $31,648,266.

Institutional Trading of Miami International

A number of institutional investors and hedge funds have recently made changes to their positions in MIAX. Vanguard Group Inc. acquired a new stake in shares of Miami International in the third quarter worth about $55,660,000. Alyeska Investment Group L.P. acquired a new stake in shares of Miami International in the third quarter worth about $50,959,000. Invesco Ltd. lifted its position in shares of Miami International by 178.8% in the fourth quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock worth $56,761,000 after buying an additional 820,246 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Miami International in the third quarter worth about $32,679,000. Finally, North Reef Capital Management LP acquired a new stake in shares of Miami International in the third quarter worth about $29,221,000.

Miami International Trading Down 0.0%

Shares of MIAX stock opened at $51.42 on Friday. Miami International has a 1-year low of $28.63 and a 1-year high of $57.14. The company has a market capitalization of $4.88 billion and a price-to-earnings ratio of 53.56. The stock’s fifty day simple moving average is $44.73 and its 200-day simple moving average is $44.05.

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

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.