Miami International Holdings, Inc. (NYSE:MIAX) Stock Has Average Price Target of $50.00 According to Brokerages

Miami International Holdings, Inc. (NYSE:MIAX) has received an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $50.00.

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, August 7th. Zacks Research raised Miami International from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 25th. Morgan Stanley decreased their price objective on Miami International from $50.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, October 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Miami International in a report on Friday, August 7th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $62.00 price objective on shares of Miami International in a research report on Friday, October 2nd.

Miami International Stock Performance

Miami International stock opened at $31.38 on Tuesday. Miami International has a fifty-two week low of $29.06 and a fifty-two week high of $57.14. The stock’s 50 day simple moving average is $38.16 and its two-hundred day simple moving average is $42.04. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 40.76 and a beta of 1.79.

Miami International (NYSE:MIAX) last posted its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. Miami International had a return on equity of 16.95% and a net margin of 9.70%. The firm had revenue of $387.63 million for the quarter. During the same quarter last year, the company posted $0.48 EPS. The firm’s revenue was up 34.8% on a year-over-year basis. On average, analysts predict that Miami International will post 1.67 earnings per share for the current year.

Insider Transactions at Miami International

In related news, EVP Shelly Brown sold 21,217 shares of Miami International stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $38.61, for a total transaction of $819,188.37. Following the completion of the transaction, the executive vice president directly owned 316,490 shares of the company’s stock, valued at $12,219,678.90. This trade represents a 6.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 47,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $42.43, for a total transaction of $1,994,210.00. Following the sale, the chief executive officer directly owned 1,423,275 shares in the company, valued at $60,389,558.25. The trade was a 3.20% 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. Over the last ninety days, insiders sold 497,415 shares of company stock worth $20,696,726. 15.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Miami International

A number of institutional investors and hedge funds have recently made changes to their positions in MIAX. State of Alaska Department of Revenue purchased a new position in shares of Miami International in the 3rd quarter worth about $108,000. BlueCrest Capital Management Ltd bought a new position in Miami International in the 2nd quarter worth about $7,432,000. NewEdge Advisors LLC boosted its stake in Miami International by 1,646.6% in the 2nd quarter. NewEdge Advisors LLC now owns 681,610 shares of the company’s stock worth $25,329,000 after purchasing an additional 642,585 shares in the last quarter. One Charles Private Wealth Services LLC purchased a new stake in Miami International during the 2nd quarter valued at about $4,400,000. Finally, Allianz Asset Management GmbH purchased a new stake in Miami International during the 2nd quarter valued at about $13,350,000.

About Miami International

Miami International Holdings, Inc (NYSE: MIAX) is a financial exchange operator that owns and manages regulated marketplaces for the trading of options and other securities. Through its exchange platforms, the company provides electronic trading, order matching, market data and related services to brokers, market makers, institutional investors and other market participants.

The company operates the MIAX exchange family, which includes MIAX, MIAX Pearl and MIAX Emerald, as well as related equities and options trading venues.