Miami International Holdings, Inc. (NYSE:MIAX) Stock Has Consensus Price Target of $49.00 According to Analysts

Key Points

• Analysts rate MIAX “Hold” overall: Five of six analysts recommend holding and one recommends buying, with a consensus 12-month price target of $49. The stock opened at $34.50.
• Quarterly results beat estimates: Miami International reported EPS of $0.45 versus the $0.36 consensus, while revenue rose 243.6% year over year to $376.18 million.
• Insiders sold 517,574 shares worth about $20 million over the past 90 days. Disclosed executive sales were made under pre-arranged trading plans; the CEO’s sale was to cover tax withholding on vested equity awards.

Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) has been given a consensus rating of "Hold" by the six research firms that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $49.00.

MIAX has been the topic of several analyst reports. Morgan Stanley reduced their price objective on Miami International from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Friday, October 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Miami International from $46.00 to $48.00 and gave the company a "market perform" rating in a research report on Friday, August 7th. Rosenblatt Securities reduced their price objective on Miami International from $62.00 to $60.00 and set a "buy" rating for the company in a research report on Tuesday, October 27th. Zacks Research lowered shares of Miami International from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 26th. Finally, Wall Street Zen cut shares of Miami International from a "buy" rating to a "hold" rating in a research note on Sunday, August 23rd.

Insider Buying and Selling at Miami International

In other news, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 387,414 shares in the company, valued at approximately $15,682,518.72. The trade was a 11.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 149,700 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $41.13, for a total value of $6,157,161.00. Following the transaction, the chief executive officer directly owned 1,423,275 shares of the company's stock, valued at approximately $58,539,300.75. This trade represents a 9.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last 90 days, insiders sold 517,574 shares of company stock valued at $20,002,691. Corporate insiders own 15.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Fifth Third Bancorp acquired a new position in Miami International in the first quarter valued at $61,000. New York State Teachers Retirement System bought a new position in Miami International in the first quarter worth $84,000. Covestor Ltd raised its position in shares of Miami International by 321.5% during the 3rd quarter. Covestor Ltd now owns 2,508 shares of the company's stock valued at $84,000 after acquiring an additional 1,913 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Miami International by 857.2% in the 3rd quarter. Sterling Capital Management LLC now owns 2,575 shares of the company's stock valued at $86,000 after purchasing an additional 2,306 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Miami International by 42.3% in the third quarter. Nisa Investment Advisors LLC now owns 2,641 shares of the company's stock valued at $88,000 after purchasing an additional 785 shares during the last quarter.

Miami International Price Performance

NYSE MIAX opened at $34.50 on Friday. The company's fifty day moving average price is $35.57 and its two-hundred day moving average price is $41.11. Miami International has a 12 month low of $29.06 and a 12 month high of $57.14. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 12.78 and a beta of 1.73.

Miami International (NYSE:MIAX - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.09. The business had revenue of $376.18 million for the quarter. Miami International had a net margin of 19.75% and a return on equity of 19.93%. The business's revenue was up 243.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. As a group, analysts anticipate that Miami International will post 1.76 EPS for the current year.

About Miami International

Miami International Holdings, Inc NYSE: MIAX is a financial exchange operator that owns and manages regulated marketplaces for the trading of options and other securities. Through its exchange platforms, the company provides electronic trading, order matching, market data and related services to brokers, market makers, institutional investors and other market participants.

The company operates the MIAX exchange family, which includes MIAX, MIAX Pearl and MIAX Emerald, as well as related equities and options trading venues.

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