Miami International Holdings, Inc. (NYSE:MIAX) Stock Rated “Hold” by Sell-Side Brokerages

Miami International Holdings, Inc. (NYSE:MIAX) has been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $51.40.

A number of research firms recently issued reports on MIAX. Keefe, Bruyette & Woods lifted their target price on Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, August 7th. Morgan Stanley lowered shares of Miami International from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $53.00 to $50.00 in a research report on Tuesday, September 1st. Rosenblatt Securities boosted their target price on shares of Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Zacks Research lowered shares of Miami International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Wall Street Zen cut shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd.

Miami International Stock Down 0.8%

Shares of MIAX opened at $35.59 on Friday. The firm has a market capitalization of $3.53 billion and a PE ratio of 46.23. The firm has a 50-day moving average price of $42.38 and a 200 day moving average price of $42.90. Miami International has a 52-week low of $35.33 and a 52-week high of $57.14.

Miami International (NYSE:MIAX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The business had revenue of $387.63 million during the quarter. During the same quarter last year, the business earned $0.48 earnings per share. The company’s revenue was up 34.8% on a year-over-year basis. On average, equities analysts expect that Miami International will post 1.7 EPS for the current year.

Insider Activity at Miami International

In other news, EVP Edward Deitzel sold 11,000 shares of Miami International stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $42.21, for a total transaction of $464,310.00. Following the transaction, the executive vice president owned 119,601 shares in the company, valued at approximately $5,048,358.21. The trade was a 8.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $40.48, for a total value of $1,943,040.00. Following the transaction, the executive vice president directly owned 387,414 shares in the company, valued at $15,682,518.72. The trade was a 11.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 756,665 shares of company stock worth $31,904,575. Insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Miami International

Hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp acquired a new stake in shares of Miami International during the 1st quarter valued at about $61,000. Caitong International Asset Management Co. Ltd bought a new position in Miami International during the fourth quarter valued at approximately $66,000. New York State Teachers Retirement System acquired a new stake in Miami International in the first quarter valued at approximately $84,000. SG Americas Securities LLC lifted its stake in Miami International by 48.9% in the first quarter. SG Americas Securities LLC now owns 3,537 shares of the company’s stock valued at $138,000 after acquiring an additional 1,162 shares during the last quarter. Finally, State of Wyoming grew its position in Miami International by 664.6% in the first quarter. State of Wyoming now owns 4,542 shares of the company’s stock worth $177,000 after acquiring an additional 3,948 shares in the last quarter.

Miami International Company Profile

Miami International Holdings, Inc (NYSE: MIAX) operates a global exchange group focused on financial markets and trading infrastructure. Its business includes the MIAX Exchange Group, which operates electronic options and equities exchanges serving institutional, professional and other market participants.

The company’s exchange platforms include MIAX, MIAX Pearl and MIAX Emerald for listed options, as well as MIAX Sapphire for equities. Miami International Holdings also provides exchange-related services such as market data, connectivity and trading technology designed to support efficient order execution and liquidity across its marketplaces.

Founded in 2007, the company has expanded beyond its U.S.