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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Miami International, with a $50.00 average 12-month price target versus the stock’s opening price of $29.99.
• The company reported quarterly EPS of $0.48, beating estimates of $0.41, while revenue rose 34.8% year over year to $387.63 million.
• Insiders sold 497,415 shares worth approximately $20.7 million over the last quarter, while major institutions including BlackRock and Bank of America established or expanded positions.

Shares of Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $50.00.

Several research analysts have weighed in on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $62.00 price target on shares of Miami International in a report on Friday, October 2nd. Wall Street Zen cut Miami International from a "buy" rating to a "hold" rating in a report on Sunday, August 23rd. Keefe, Bruyette & Woods upped their target price on Miami International from $46.00 to $48.00 and gave the company a "market perform" rating in a research report on Friday, August 7th. Morgan Stanley decreased their target price on Miami International from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Friday. Finally, Zacks Research upgraded Miami International from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 25th.

Insider Transactions at Miami International

In other Miami International news, EVP Harish Jayabalan sold 20,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $45.90, for a total transaction of $918,000.00. Following the transaction, the executive vice president owned 78,065 shares in the company, valued at $3,583,183.50. This trade represents a 20.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Shelly Brown sold 21,217 shares of Miami International stock in a transaction on 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 directly owned 316,490 shares of the company's stock, valued at $12,219,678.90. This represents a 6.28% 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. Over the last quarter, insiders sold 497,415 shares of company stock worth $20,696,726. 15.60% of the stock is currently owned by company insiders.

Institutional Trading of Miami International

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Miami International in the 2nd quarter valued at about $188,466,000. J Digital 6 LLC bought a new position in Miami International in the 2nd quarter valued at about $67,157,000. Bank of America Corp DE acquired a new position in shares of Miami International in the 2nd quarter valued at approximately $31,845,000. NewEdge Advisors LLC raised its position in shares of Miami International by 1,646.6% in the 2nd quarter. NewEdge Advisors LLC now owns 681,610 shares of the company's stock valued at $25,329,000 after buying an additional 642,585 shares in the last quarter. Finally, Caldwell Investment Management Ltd. acquired a new position in shares of Miami International in the 2nd quarter valued at approximately $22,279,000.

Miami International Price Performance

Shares of Miami International stock opened at $29.99 on Tuesday. The business has a fifty day simple moving average of $39.60 and a two-hundred day simple moving average of $42.31. Miami International has a 1 year low of $29.21 and a 1 year high of $57.14. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 38.95 and a beta of 1.79.

Miami International (NYSE:MIAX - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. The firm had revenue of $387.63 million for the quarter. Miami International had a net margin of 9.70% and a return on equity of 16.95%. Miami International's revenue for the quarter was up 34.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. As a group, equities analysts anticipate that Miami International will post 1.69 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.