Brokerages Set Miami International Holdings, Inc. (NYSE:MIAX) Price Target at $51.20

Miami International Holdings, Inc. (NYSE:MIAX) has been assigned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $51.20.

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, May 8th. Rosenblatt Securities increased their price objective on shares of Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Zacks Research upgraded shares of Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Finally, Morgan Stanley increased their price objective on shares of 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 Stock Performance

Shares of NYSE MIAX opened at $43.24 on Wednesday. Miami International has a 52-week low of $28.63 and a 52-week high of $57.14. The firm has a 50 day moving average price of $46.25 and a two-hundred day moving average price of $43.73. The stock has a market cap of $4.10 billion and a P/E ratio of 45.04.

Miami International (NYSE:MIAX) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $369.69 million during the quarter, compared to analyst estimates of $122.74 million. During the same quarter last year, the company posted $0.38 earnings per share. The company’s revenue was up 40.0% compared to the same quarter last year. Analysts predict that Miami International will post 1.53 earnings per share for the current fiscal year.

Insider Activity at Miami International

In other news, EVP Harish Jayabalan sold 9,783 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $40.04, for a total transaction of $391,711.32. Following the completion of the sale, the executive vice president directly owned 73,405 shares in the company, valued at $2,939,136.20. This represents a 11.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cynthia Schwarzkopf sold 19,500 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $41.73, for a total transaction of $813,735.00. Following the sale, the director owned 81,308 shares of the company’s stock, valued at approximately $3,392,982.84. This trade represents a 19.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 821,871 shares of company stock valued at $36,021,919 over the last 90 days. 15.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MIAX. State of Wyoming bought a new position in Miami International during the fourth quarter worth $26,000. National Bank of Canada FI bought a new position in Miami International during the third quarter worth $29,000. Comerica Bank boosted its stake in Miami International by 295.6% during the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after acquiring an additional 937 shares in the last quarter. Fifth Third Bancorp bought a new position in Miami International during the first quarter worth $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Miami International during the fourth quarter worth $66,000.

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.