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

Miami International Holdings, Inc. (NYSE:MIAX) has been assigned an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $52.00.

A number of brokerages have recently commented on MIAX. Wall Street Zen downgraded shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Zacks Research downgraded shares of Miami International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Morgan Stanley raised their target price on shares of Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Rosenblatt Securities lifted their target price on shares of Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Keefe, Bruyette & Woods increased their price target on Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, August 7th.

Miami International Stock Performance

Shares of NYSE:MIAX opened at $43.07 on Monday. The business’s fifty day moving average price is $42.26 and its two-hundred day moving average price is $43.02. The stock has a market cap of $4.27 billion and a PE ratio of 55.94. Miami International has a one year low of $34.02 and a one year high of $57.14.

Miami International (NYSE:MIAX) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. The business had revenue of $387.63 million for the quarter. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The firm’s revenue was up 34.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 earnings per share. As a group, equities research analysts predict that Miami International will post 1.69 earnings per share for the current fiscal year.

Insider Activity at Miami International

In related news, EVP Barbara J. Comly sold 44,445 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $45.69, for a total transaction of $2,030,692.05. Following the transaction, the executive vice president directly owned 882,984 shares in the company, valued at approximately $40,343,538.96. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 149,700 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $41.13, for a total value of $6,157,161.00. Following the completion of the sale, the chief executive officer directly owned 1,423,275 shares in the company, valued at approximately $58,539,300.75. The trade was a 9.52% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 797,208 shares of company stock worth $33,858,199. 15.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Miami International

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming purchased a new stake in shares of Miami International during the 4th quarter valued at $26,000. National Bank of Canada FI acquired a new position in Miami International in the third quarter valued at $29,000. Comerica Bank grew its position in Miami International by 295.6% during the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock valued at $56,000 after acquiring an additional 937 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Miami International during the fourth quarter valued at about $66,000. Finally, Fifth Third Bancorp acquired a new stake in Miami International during the first quarter worth about $61,000.

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.