Miami International Holdings, Inc. (NYSE:MIAX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Miami International Holdings, Inc. (NYSE:MIAX) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $47.60.

A number of brokerages have recently commented on MIAX. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Miami International in a report on Friday, March 27th. Keefe, Bruyette & Woods began coverage on shares of Miami International in a report on Wednesday, April 8th. They issued a “market perform” rating and a $40.00 target price on the stock. Morgan Stanley lifted their target price on shares of Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $59.00 target price on shares of Miami International in a report on Tuesday, April 7th. Finally, Zacks Research raised shares of Miami International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th.

Miami International Price Performance

Shares of MIAX opened at $44.90 on Tuesday. Miami International has a 1-year low of $28.63 and a 1-year high of $51.38. The stock has a market cap of $4.11 billion and a PE ratio of 83.14. The firm has a fifty day moving average price of $40.82 and a 200 day moving average price of $42.98.

Miami International (NYSE:MIAX) last announced its earnings results on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.11. The business had revenue of $369.43 million during the quarter, compared to analyst estimates of $121.13 million. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, equities analysts expect that Miami International will post 1.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Miami International news, EVP Barbara J. Comly sold 29,667 shares of Miami International stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $43.64, for a total value of $1,294,667.88. Following the transaction, the executive vice president directly owned 843,844 shares in the company, valued at approximately $36,825,352.16. This trade represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of Miami International stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $39.74, for a total value of $1,907,520.00. Following the completion of the transaction, the executive vice president owned 396,681 shares in the company, valued at $15,764,102.94. This trade represents a 10.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 521,321 shares of company stock worth $21,837,057.

Institutional Investors Weigh In On Miami International

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

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.