Miami International Holdings, Inc. (NYSE:MIAX) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Miami International Holdings, with five holds and two buys; the average 12-month price target is $51.40.
• MIAX shares opened at $37.65, near their 52-week low of $35.43 and below the average analyst target. Recent broker actions were mixed, including Morgan Stanley’s downgrade to “equal weight” and Rosenblatt Securities’ higher $62 price target.
• The company beat quarterly EPS estimates, reporting $0.48 versus the $0.41 consensus, while revenue rose 34.8% year over year to $387.63 million. Insiders sold 756,665 shares worth about $31.9 million during the last quarter.

Shares of Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) have been given a consensus recommendation of "Hold" by the seven analysts that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $51.40.

Several brokerages have recently commented on MIAX. Morgan Stanley cut shares of Miami International from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $53.00 to $50.00 in a research report on Tuesday, September 1st. Rosenblatt Securities increased their price target on shares of Miami International from $61.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Zacks Research cut shares of Miami International from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Wall Street Zen downgraded shares of Miami International from a "buy" rating to a "hold" rating in a research report on Sunday, August 23rd. Finally, Keefe, Bruyette & Woods upped their target price on Miami International from $46.00 to $48.00 and gave the stock a "market perform" rating in a research note on Friday, August 7th.

Insider Transactions at Miami International

In other news, EVP Douglas Schafer, Jr. sold 48,000 shares of the business's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $41.22, for a total transaction of $1,978,560.00. Following the completion of the transaction, the executive vice president owned 387,414 shares of the company's stock, valued at approximately $15,969,205.08. The trade was a 11.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas Gallagher sold 149,700 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $41.13, for a total value of $6,157,161.00. Following the sale, the chief executive officer owned 1,423,275 shares of the company's stock, valued at approximately $58,539,300.75. This represents a 9.52% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 756,665 shares of company stock valued at $31,904,575. Corporate insiders own 15.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MIAX. SG Americas Securities LLC boosted its holdings in shares of Miami International by 48.9% during the 1st 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 in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Miami International during the 4th quarter worth $66,000. Fifth Third Bancorp acquired a new position in Miami International in the 1st quarter worth about $61,000. Swiss National Bank increased its holdings in Miami International by 6.3% in the 1st quarter. Swiss National Bank now owns 33,800 shares of the company's stock worth $1,315,000 after purchasing an additional 2,000 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new position in Miami International in the first quarter valued at about $84,000.

Miami International Stock Performance

NYSE:MIAX opened at $37.65 on Friday. The company has a market cap of $3.74 billion and a price-to-earnings ratio of 48.89. Miami International has a fifty-two week low of $35.43 and a fifty-two week high of $57.14. The stock has a fifty day moving average price of $42.91 and a 200-day moving average price of $43.08.

Miami International (NYSE:MIAX - Get Free Report) last posted its quarterly 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 business had revenue of $387.63 million during the quarter. During the same period last year, the firm earned $0.48 EPS. The firm's revenue for the quarter was up 34.8% compared to the same quarter last year. Research analysts predict that Miami International will post 1.7 EPS for the current fiscal year.

About Miami International

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.

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