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

Key Points

• Shares have a consensus rating of "Moderate Buy" from nine analysts (1 sell, 3 hold, 4 buy, 1 strong buy) with an average 1-year target price of $47.60.
• Company insiders sold a total of 521,321 shares in the last quarter (about $21.84 million), including large sales by Director Kurt M. Eckert and EVP Douglas M. Schafer Jr., reducing their holdings materially.
• MIAX beat estimates for the quarter, reporting $0.52 EPS vs. $0.41 expected and revenue of $369.43M (vs. $121.13M est.), and analysts forecast about 1.43 EPS for the current fiscal year.

Shares of Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) have received a consensus rating of "Moderate Buy" from the nine research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $47.60.

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Miami International in a research note on Wednesday, April 8th. They set a "market perform" rating and a $40.00 target price on the stock. Zacks Research upgraded shares of Miami International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. Weiss Ratings restated a "sell (d+)" rating on shares of Miami International in a research note on Friday, March 27th. Morgan Stanley upped their target price on shares of Miami International from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. Finally, Rosenblatt Securities restated a "buy" rating and set a $59.00 target price on shares of Miami International in a research note on Tuesday, April 7th.

Insider Buying and Selling at Miami International

In other news, Director Kurt M. Eckert sold 37,917 shares of the company'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 transaction, the director directly owned 142,375 shares of the company's stock, valued at approximately $5,552,625. This represents a 21.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $39.74, for a total value of $1,907,520.00. Following the transaction, the executive vice president directly owned 396,681 shares of the company's stock, valued at approximately $15,764,102.94. This represents a 10.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 521,321 shares of company stock worth $21,837,057.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MIAX. Allspring Global Investments Holdings LLC purchased a new stake in Miami International in the third quarter valued at $17,684,000. Coastal Bridge Advisors LLC purchased a new stake in Miami International in the third quarter valued at $3,083,000. Victory Capital Management Inc. purchased a new stake in Miami International in the third quarter valued at $12,168,000. Federated Hermes Inc. purchased a new stake in Miami International in the third quarter valued at $10,065,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in Miami International in the third quarter valued at $1,033,000.

Miami International Stock Down 0.6%

Miami International stock opened at $44.90 on Tuesday. The firm has a market cap of $4.11 billion and a PE ratio of 83.14. Miami International has a 52-week low of $28.63 and a 52-week high of $51.38. The company's 50 day moving average is $40.82 and its two-hundred day moving average is $42.98.

Miami International (NYSE:MIAX - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.11. The business had revenue of $369.43 million for the quarter, compared to analyst estimates of $121.13 million. The company's revenue was up 14.0% on a year-over-year basis. On average, equities research analysts anticipate that Miami International will post 1.43 earnings per share for the current fiscal 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.

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