Miami International Holdings, Inc. (NYSE:MIAX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Miami International Holdings, Inc. (NYSE:MIAX) have been given an average recommendation of “Moderate Buy” by the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $51.20.

MIAX has been the subject of several recent research reports. Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings upgraded Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Morgan Stanley upped their price target on Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Rosenblatt Securities upped their price target on Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods upped their price target on Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, May 8th.

Miami International Trading Up 2.8%

Shares of Miami International stock opened at $39.81 on Wednesday. The stock has a fifty day simple moving average of $46.06 and a 200 day simple moving average of $43.77. Miami International has a 12-month low of $28.63 and a 12-month high of $57.14. The company has a market capitalization of $3.78 billion and a P/E ratio of 41.47.

Miami International (NYSE:MIAX) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The company had revenue of $369.69 million for the quarter, compared to the consensus estimate of $122.74 million. During the same quarter last year, the company posted $0.38 EPS. The company’s quarterly revenue was up 40.0% compared to the same quarter last year. On average, analysts predict that Miami International will post 1.53 EPS for the current year.

Insider Transactions at Miami International

In other Miami International news, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was 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 represents a 10.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barbara J. Comly sold 29,667 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $43.64, for a total value of $1,294,667.88. Following the completion of the transaction, the executive vice president owned 843,844 shares of the company’s stock, valued at $36,825,352.16. This trade represents a 3.40% 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. Over the last three months, insiders have sold 782,371 shares of company stock worth $34,406,566. Company insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new position in shares of Miami International in the first quarter worth about $1,519,000. Bank of America Corp DE raised its holdings in Miami International by 196.5% during the 1st 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 period. Royal Bank of Canada raised its holdings in Miami International by 553.2% during the 1st quarter. Royal Bank of Canada now owns 10,301 shares of the company’s stock valued at $401,000 after acquiring an additional 8,724 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Miami International by 11.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 163,981 shares of the company’s stock valued at $6,382,000 after acquiring an additional 17,037 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in Miami International during the 1st quarter valued at $2,160,000.

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.