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

Shares of Miami International Holdings, Inc. (NYSE:MIAX) have earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $51.20.

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded Miami International from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday. 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 research note on Friday, May 8th. Finally, Zacks Research upgraded Miami International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th.

Miami International Trading Down 1.1%

Shares of NYSE:MIAX opened at $56.23 on Friday. The stock has a 50 day moving average of $43.57 and a 200 day moving average of $43.74. The company has a market cap of $5.34 billion and a PE ratio of 58.58. Miami International has a 12-month low of $28.63 and a 12-month high of $57.14.

Miami International (NYSE:MIAX) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. The company’s revenue was up 40.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 earnings per share. Equities research analysts predict that Miami International will post 1.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Miami International news, EVP Barbara J. Comly sold 29,667 shares of the company’s 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 completion of the transaction, the executive vice president directly owned 843,844 shares in the company, valued at $36,825,352.16. This represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 174,125 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $43.36, for a total value of $7,550,060.00. Following the completion of the transaction, the chief executive officer owned 1,723,275 shares of the company’s stock, valued at $74,721,204. The trade was a 9.18% decrease in their ownership of the stock. 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 687,175 shares of company stock worth $29,675,666 over the last ninety days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Miami International by 39.5% in the 4th quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock worth $85,577,000 after purchasing an additional 545,770 shares during the period. Coastal Bridge Advisors LLC purchased a new stake in shares of Miami International during the 3rd quarter worth approximately $3,083,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Miami International during the 3rd quarter worth approximately $1,033,000. Federated Hermes Inc. purchased a new stake in shares of Miami International during the 3rd quarter worth approximately $10,065,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Miami International during the 3rd quarter worth approximately $12,168,000.

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.