Miami International Holdings, Inc. (NYSE:MIAX) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Analysts rate MIAX “Hold” overall: Five of nine analysts recommend holding the stock, while four recommend buying it. The average 12-month price target is $52.00, compared with a recent price of $42.58.
• Quarterly results exceeded expectations: Miami International reported adjusted earnings of $0.48 per share, topping the $0.41 consensus estimate, while revenue rose 34.8% year over year to $387.63 million.
• Insiders have been selling shares: Company insiders sold 797,208 shares worth approximately $33.9 million over the past three months, though some purchases by institutional investors and hedge funds were also reported.

Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) has earned a consensus recommendation of "Hold" from the nine ratings firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $52.00.

A number of analysts have weighed in on the company. Morgan Stanley increased their price target on Miami International from $50.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Weiss Ratings reissued a "hold (c)" rating on shares of Miami International in a research note on Friday, August 7th. Zacks Research lowered Miami International from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. raised their target price on Miami International from $41.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Finally, Rosenblatt Securities lifted their target price on Miami International from $61.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, August 6th.

Insiders Place Their Bets

In other Miami International news, EVP Harish Jayabalan sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $45.90, for a total value of $918,000.00. Following the completion of the sale, the executive vice president owned 78,065 shares of the company's stock, valued at approximately $3,583,183.50. This trade represents a 20.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 business's stock in a transaction that occurred 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 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 position. 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. Insiders sold a total of 797,208 shares of company stock worth $33,858,199 over the last three months. Insiders own 15.60% of the company's stock.

Institutional Trading of Miami International

Hedge funds have recently bought and sold shares of the business. J Digital 6 LLC bought a new stake in Miami International during the 2nd quarter valued at $67,157,000. Grandeur Peak Global Advisors LLC lifted its stake in shares of Miami International by 20.6% in the second quarter. Grandeur Peak Global Advisors LLC now owns 19,018 shares of the company's stock valued at $707,000 after buying an additional 3,247 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Miami International during the second quarter valued at about $5,618,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Miami International by 36.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,824 shares of the company's stock valued at $662,000 after buying an additional 4,714 shares during the last quarter. Finally, Goodwin Investment Advisory bought a new stake in shares of Miami International during the second quarter worth about $1,041,000.

Miami International Stock Performance

Shares of MIAX opened at $42.58 on Monday. Miami International has a 52 week low of $32.19 and a 52 week high of $57.14. The stock has a market capitalization of $4.23 billion and a price-to-earnings ratio of 55.30. The stock has a fifty day moving average of $41.83 and a 200-day moving average of $42.95.

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

About Miami International

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.

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.

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