Miami International Holdings, Inc. (NYSE:MIAX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Miami International Holdings, Inc. (NYSE:MIAX) have earned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $51.20.

MIAX has been the topic of several recent research reports. Rosenblatt Securities increased 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. Weiss Ratings upgraded Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods increased their price objective on Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, May 8th. Zacks Research upgraded Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Finally, Morgan Stanley increased 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 Transactions at Miami International

In other news, EVP Douglas M. Schafer, Jr. sold 48,000 shares of Miami International stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $42.84, for a total value of $2,056,320.00. Following the sale, the executive vice president directly owned 396,681 shares in the company, valued at approximately $16,993,814.04. This trade represents a 10.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kurt M. Eckert sold 5,250 shares of Miami International stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $42.76, for a total value of $224,490.00. Following the completion of the sale, the director owned 142,375 shares in the company, valued at approximately $6,087,955. This represents a 3.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 782,371 shares of company stock valued at $34,406,566. Insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Miami International

Large investors have recently made changes to their positions in the business. State of Wyoming bought a new stake in shares of Miami International in the 4th quarter worth approximately $26,000. National Bank of Canada FI bought a new stake in shares of Miami International in the 3rd quarter worth approximately $29,000. Comerica Bank grew its position in shares of Miami International by 295.6% in the 4th quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after buying an additional 937 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of Miami International in the 1st quarter worth approximately $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Miami International in the 4th quarter worth approximately $66,000.

Miami International Stock Up 2.8%

NYSE:MIAX opened at $39.81 on Wednesday. The business’s 50-day moving average price is $46.06 and its two-hundred day moving average price is $43.77. Miami International has a twelve month low of $28.63 and a twelve month high of $57.14. The stock has a market cap of $3.78 billion and a P/E ratio of 41.47.

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, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $369.69 million during the quarter, compared to analysts’ expectations of $122.74 million. The business’s revenue was up 40.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 EPS. On average, equities research analysts expect that Miami International will post 1.53 EPS for the current fiscal year.

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.