Miami International Holdings, Inc. (NYSE:MIAX) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Miami International Holdings has a consensus analyst rating of “Moderate Buy”, with nine firms covering the stock and an average 12-month target price of $51.20.
• The company recently posted better-than-expected earnings, reporting $0.42 EPS versus $0.36 expected, while quarterly revenue surged 40% year over year to $369.69 million.
• Insider selling has been notable, with executives and directors selling shares in recent months, though several major institutions like Vanguard, T. Rowe Price, and Invesco also increased their holdings.

Shares of Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $51.20.

A number of equities analysts have weighed in on MIAX shares. JPMorgan Chase & Co. boosted their target price on Miami International from $41.00 to $45.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Zacks Research raised Miami International from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. Weiss Ratings raised Miami International from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday. Keefe, Bruyette & Woods boosted their target price on Miami International from $40.00 to $48.00 and gave the stock a "market perform" rating in a research report on Friday, May 8th. Finally, Morgan Stanley boosted their target price on Miami International from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, April 10th.

Miami International Price Performance

MIAX opened at $56.23 on Friday. The stock has a 50-day moving average price of $43.57 and a 200-day moving average price of $43.74. The firm has a market cap of $5.34 billion and a PE ratio of 58.58. Miami International has a 1 year low of $28.63 and a 1 year high of $57.14.

Miami International (NYSE:MIAX - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. The business had revenue of $369.69 million during the quarter, compared to analysts' expectations of $122.74 million. During the same period last year, the firm posted $0.38 EPS. Miami International's quarterly revenue was up 40.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Miami International will post 1.53 EPS for the current year.

Insiders Place Their Bets

In other Miami International news, Director Kurt M. Eckert sold 37,917 shares of the business's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $39.00, for a total transaction of $1,478,763.00. Following the completion of the sale, the director directly owned 142,375 shares in the company, valued at $5,552,625. The trade was a 21.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Barbara J. Comly sold 29,667 shares of the business's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $43.64, for a total value of $1,294,667.88. Following the sale, the executive vice president owned 843,844 shares of the company's stock, valued at approximately $36,825,352.16. This represents a 3.40% 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. Insiders have sold 687,175 shares of company stock worth $29,675,666 in the last quarter.

Institutional Investors Weigh In On Miami International

A number of large investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its stake in shares of Miami International by 24.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company's stock valued at $134,282,000 after purchasing an additional 595,096 shares during the period. Vanguard Group Inc. grew its stake in shares of Miami International by 39.5% during the 4th quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company's stock valued at $85,577,000 after purchasing an additional 545,770 shares during the period. Horizon Kinetics Asset Management LLC grew its stake in shares of Miami International by 31.6% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company's stock valued at $80,763,000 after purchasing an additional 437,395 shares during the period. Alyeska Investment Group L.P. grew its stake in shares of Miami International by 1.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,286,086 shares of the company's stock valued at $57,076,000 after purchasing an additional 20,350 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Miami International by 178.8% during the 4th quarter. Invesco Ltd. now owns 1,278,966 shares of the company's stock valued at $56,761,000 after purchasing an additional 820,246 shares during the period.

Miami International Company Profile

Miami International NYSE: MIAX is a U.S. exchange holding company that operates electronic trading venues and provides market infrastructure for listed options and related products. Its primary business activities include operating regulated exchanges, delivering market data feeds, and offering trading technology and connectivity services designed for professional traders, broker-dealers, and market makers. The company focuses on low-latency execution, order matching, and the operational controls required to support high-volume, automated trading strategies in listed derivatives.

Products and services provided by Miami International include fully electronic order matching engines, transmittable market data and feed products, colocation and connectivity solutions, and tools for risk management and regulatory compliance.

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