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

Miami International Holdings, Inc. (NYSE:MIAX) has been given an average rating of “Hold” by the nine research firms that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $52.00.

A number of equities analysts have issued reports on MIAX shares. Morgan Stanley lifted their price objective on shares of Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. JPMorgan Chase & Co. increased their target price on shares of Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of Miami International in a report on Friday, August 7th. Rosenblatt Securities upped their price objective on shares of Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Zacks Research downgraded shares of Miami International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd.

Miami International Stock Down 0.0%

MIAX stock opened at $42.58 on Monday. The firm has a market capitalization of $4.23 billion and a PE ratio of 55.30. Miami International has a twelve month low of $32.19 and a twelve month high of $57.14. The stock’s 50 day moving average is $41.83 and its 200-day moving average is $42.95.

Miami International (NYSE:MIAX) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.07. The business had revenue of $387.63 million during the quarter. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The company’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS. On average, equities research analysts anticipate that Miami International will post 1.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Miami International

In related news, CEO Thomas P. Gallagher sold 149,700 shares of Miami International stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $41.13, for a total value of $6,157,161.00. Following the sale, the chief executive officer owned 1,423,275 shares of the company’s stock, valued at approximately $58,539,300.75. The trade was a 9.52% decrease in their position. The transaction 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction of $2,056,320.00. Following the completion of the sale, the executive vice president directly owned 396,681 shares in the company, valued at $16,993,814.04. This trade represents a 10.79% 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 have sold a total of 797,208 shares of company stock worth $33,858,199 over the last three months. 15.60% of the stock is currently owned by insiders.

Institutional Trading of Miami International

A number of large investors have recently bought and sold shares of MIAX. State of Wyoming purchased a new position in shares of Miami International during the 4th quarter valued at $26,000. National Bank of Canada FI purchased a new stake in Miami International in the 3rd quarter worth about $29,000. Comerica Bank raised its stake in Miami International by 295.6% in the 4th 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 bought a new stake in Miami International in the 4th quarter valued at about $66,000. Finally, Fifth Third Bancorp purchased a new stake in Miami International during the first quarter valued at about $61,000.

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.