Miami International (NYSE:MIAX) Hits New 1-Year High – Should You Buy?

Miami International Holdings, Inc. (NYSE:MIAX)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $49.27 and last traded at $49.1350, with a volume of 596568 shares trading hands. The stock had previously closed at $47.02.

Analyst Upgrades and Downgrades

MIAX has been the topic of a number of research reports. William Blair assumed coverage on Miami International in a research note on Monday, September 8th. They issued an “outperform” rating on the stock. Rosenblatt Securities upped their price target on shares of Miami International from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley lifted their price objective on shares of Miami International from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Wall Street Zen upgraded shares of Miami International to a “hold” rating in a research report on Saturday, August 23rd. Finally, Weiss Ratings started coverage on Miami International in a report on Thursday. They issued a “sell (d+)” rating for the company. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.20.

Miami International Stock Up 1.1%

The firm has a 50 day moving average of $41.18.

Miami International (NYSE:MIAX) last issued its earnings results on Wednesday, November 5th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. The firm’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS.

Insider Activity at Miami International

In other Miami International news, Director Murray Stahl acquired 34,470 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was bought at an average cost of $36.10 per share, with a total value of $1,244,367.00. Following the completion of the purchase, the director directly owned 4,557,919 shares in the company, valued at $164,540,875.90. The trade was a 0.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired a total of 34,476 shares of company stock worth $1,244,618 in the last 90 days.

Hedge Funds Weigh In On Miami International

A number of large investors have recently made changes to their positions in MIAX. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Miami International in the 3rd quarter worth $101,000. Texas Yale Capital Corp. purchased a new stake in shares of Miami International during the third quarter worth about $201,000. Caprock Group LLC acquired a new position in shares of Miami International during the third quarter valued at about $376,000. Readystate Asset Management LP purchased a new position in shares of Miami International in the 3rd quarter valued at approximately $503,000. Finally, Atlas Wealth Partners LLC acquired a new stake in Miami International in the 3rd quarter worth approximately $881,000.

About Miami International

We are a technology-driven leader in building and operating regulated financial marketplaces across multiple asset classes and geographies. Our MIAX Exchanges, MIAX Futures and BSX marketplaces are enabled by our in-house built, proprietary technology. We believe the speed and performance of our proprietary technology coupled with our fully integrated, award-winning customer service, sets us apart from our competitors.