Miami International Holdings, Inc.'s Quiet Period Set To Expire on September 23rd (NYSE:MIAX)

Key Points

• Miami International Holdings, Inc.'s quiet period will end on September 23rd, allowing brokerages to initiate research coverage after an IPO that raised $345 million on August 14th.
• Multiple brokerages have established coverage on MIAX, with Morgan Stanley setting the highest target price at $42.00 and giving it an "overweight" rating.
• The stock is currently trading at $37.40, with a 12-month price range between $28.63 and $39.13.

Miami International's (NYSE:MIAX - Get Free Report) quiet period is set to end on Tuesday, September 23rd. Miami International had issued 15,000,000 shares in its public offering on August 14th. The total size of the offering was $345,000,000 based on an initial share price of $23.00. During the company's quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the expiration of the company's quiet period, it's expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MIAX. Rosenblatt Securities began coverage on Miami International in a research note on Monday, September 8th. They set a "buy" rating and a $50.00 target price on the stock. JPMorgan Chase & Co. began coverage on Miami International in a research note on Monday, September 8th. They set a "neutral" rating and a $32.00 target price on the stock. Piper Sandler began coverage on Miami International in a research note on Monday, September 8th. They set an "overweight" rating and a $39.00 target price on the stock. William Blair began coverage on Miami International in a research note on Monday, September 8th. They set an "outperform" rating on the stock. Finally, Keefe, Bruyette & Woods began coverage on Miami International in a research note on Monday, September 8th. They set a "market perform" rating and a $37.00 target price on the stock. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $40.00.

Miami International Trading Down 1.7%

NYSE:MIAX traded down $0.68 during trading hours on Friday, reaching $38.18. The company had a trading volume of 1,380,434 shares, compared to its average volume of 633,964. Miami International has a one year low of $28.63 and a one year high of $39.56.

About Miami International

We are a technology-driven leader in building and operating regulated financial marketplaces across multiple asset classes and geographies. Our MIAX Exchanges, MIAX Futures and BSX marketplaces are enabled by our in-house built, proprietary technology. We believe the speed and performance of our proprietary technology coupled with our fully integrated, award-winning customer service, sets us apart from our competitors.