Miami International Holdings, Inc. (NYSE:MIAX) Stock Has Consensus Price Target of $50.00 According to Analysts

Miami International Holdings, Inc. (NYSE:MIAX) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $50.00.

Several equities research analysts have weighed in on the company. Morgan Stanley cut their price target on Miami International from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, October 9th. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Zacks Research raised Miami International from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 25th. Rosenblatt Securities restated a “buy” rating and issued a $62.00 target price on shares of Miami International in a report on Friday, October 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miami International in a research note on Friday, August 7th.

Miami International Stock Performance

Miami International stock opened at $30.76 on Tuesday. The business’s 50-day simple moving average is $38.67 and its two-hundred day simple moving average is $42.14. The company has a market cap of $3.05 billion, a PE ratio of 20.64 and a beta of 1.79. Miami International has a fifty-two week low of $29.06 and a fifty-two week high of $57.14.

Miami International (NYSE:MIAX) last issued its earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Miami International had a return on equity of 16.95% and a net margin of 9.70%. The firm had revenue of $387.63 million for the quarter. During the same quarter in the prior year, the company earned $0.48 EPS. Miami International’s quarterly revenue was up 34.8% on a year-over-year basis. As a group, analysts predict that Miami International will post 1.67 EPS for the current fiscal year.

Insider Transactions at Miami International

In other Miami International news, EVP Shelly Brown sold 21,217 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $38.61, for a total value of $819,188.37. Following the sale, the executive vice president owned 316,490 shares of the company’s stock, valued at $12,219,678.90. This trade represents a 6.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 149,700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $41.13, for a total transaction of $6,157,161.00. Following the completion of the sale, the chief executive officer directly owned 1,423,275 shares in the company, valued at approximately $58,539,300.75. This trade represents a 9.52% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 497,415 shares of company stock valued at $20,696,726 in the last ninety days. 15.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Miami International

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Miami International during the 2nd quarter worth approximately $188,466,000. J Digital 6 LLC purchased a new stake in Miami International in the 2nd quarter valued at approximately $67,157,000. Allspring Global Investments Holdings LLC lifted its stake in Miami International by 19.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,112,261 shares of the company’s stock valued at $43,790,000 after buying an additional 180,208 shares in the last quarter. 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 worth $35,062,000 after buying an additional 597,021 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in Miami International by 1,646.6% during the second quarter. NewEdge Advisors LLC now owns 681,610 shares of the company’s stock worth $25,329,000 after buying an additional 642,585 shares in the last quarter.

Miami International Company Profile

Miami International Holdings, Inc operates financial markets and exchange platforms through its MIAX Exchange Group. The company provides electronic trading venues, market data, and related technology for options and other securities, with an emphasis on high-performance execution and competitive market structure.

Its U.S. exchange portfolio includes the MIAX, MIAX Pearl, MIAX Emerald, and MIAX Sapphire options exchanges, as well as MIAX Pearl Equities. These venues support trading in listed options and equities and are designed to serve market makers, institutional investors, broker-dealers, and other market participants.

Miami International Holdings was founded in 2007, and its flagship MIAX options exchange began operations in 2012.