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

Miami International Holdings, Inc. (NYSE:MIAX) has earned an average rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $51.80.

MIAX has been the topic of a number of analyst reports. Morgan Stanley boosted their price target on Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Wall Street Zen downgraded shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Rosenblatt Securities boosted their price objective on shares of Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Weiss Ratings raised shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Zacks Research cut Miami International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd.

Miami International Stock Up 1.2%

Miami International stock opened at $45.87 on Thursday. The firm has a fifty day simple moving average of $41.66 and a two-hundred day simple moving average of $42.92. Miami International has a twelve month low of $28.63 and a twelve month high of $57.14. The company has a market capitalization of $4.35 billion and a PE ratio of 47.78.

Miami International (NYSE:MIAX) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $387.63 million during the quarter. During the same quarter last year, the firm earned $0.48 EPS. The company’s revenue for the quarter was up 34.8% on a year-over-year basis. As a group, equities analysts expect that Miami International will post 1.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Barbara J. Comly sold 28,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $42.85, for a total value of $1,199,800.00. Following the transaction, the executive vice president owned 843,844 shares of the company’s stock, valued at $36,158,715.40. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 70,000 shares of Miami International stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $42.36, for a total transaction of $2,965,200.00. Following the transaction, the chief executive officer owned 1,723,275 shares in the company, valued at approximately $72,997,929. This trade represents a 3.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 555,000 shares of company stock valued at $23,841,231 in the last 90 days. 15.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Handelsbanken Fonder AB purchased a new position in Miami International in the second quarter worth about $743,000. Sapient Capital LLC bought a new position in shares of Miami International during the 2nd quarter valued at approximately $989,000. Assenagon Asset Management S.A. purchased a new stake in Miami International during the 2nd quarter valued at $11,067,000. NewEdge Advisors LLC purchased a new position in Miami International during the first quarter worth $1,519,000. Finally, Bank of America Corp DE increased its position in Miami International by 196.5% during the first quarter. Bank of America Corp DE now owns 900,882 shares of the company’s stock valued at $35,062,000 after acquiring an additional 597,021 shares during the last quarter.

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.