Miami International (NYSE:MIAX) Hits New 12-Month High – Should You Buy?

Miami International Holdings, Inc. (NYSE:MIAX) shares reached a new 52-week high on Thursday . The company traded as high as $55.90 and last traded at $55.2070, with a volume of 1698762 shares. The stock had previously closed at $52.47.

Analyst Ratings Changes

A number of research firms have weighed in on MIAX. JPMorgan Chase & Co. upped 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. Wall Street Zen upgraded Miami International from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research upgraded Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. Rosenblatt Securities upped their target price on Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods upped 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. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Miami International has an average rating of “Moderate Buy” and a consensus target price of $51.20.

Miami International Trading Up 5.2%

The business has a 50-day moving average price of $43.00 and a 200 day moving average price of $43.55. The company has a market cap of $5.24 billion and a price-to-earnings ratio of 102.24.

Miami International (NYSE:MIAX) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $369.69 million for the quarter, compared to analyst estimates of $122.74 million. During the same quarter last year, the company posted $0.38 EPS. Miami International’s revenue was up 40.0% on a year-over-year basis. On average, analysts anticipate that Miami International Holdings, Inc. will post 1.53 earnings per share for the current year.

Insider Activity at Miami International

In other news, Director Judson Gray Teekell sold 3,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $47.30, for a total transaction of $141,900.00. Following the completion of the sale, the director owned 56,338 shares in the company, valued at approximately $2,664,787.40. This represents a 5.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 54,229 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $47.26, for a total value of $2,562,862.54. Following the sale, the chief executive officer owned 1,723,275 shares of the company’s stock, valued at $81,441,976.50. This trade represents a 3.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 687,175 shares of company stock worth $29,675,666.

Institutional Trading of Miami International

Several large investors have recently added to or reduced their stakes in MIAX. Caldwell Investment Management Ltd. acquired a new stake in Miami International during the 3rd quarter valued at $27,056,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Miami International during the 3rd quarter valued at $101,000. Atlas Wealth Partners LLC acquired a new stake in Miami International during the 3rd quarter valued at $881,000. Federated Hermes Inc. acquired a new stake in Miami International during the 3rd quarter valued at $10,065,000. Finally, Coastal Bridge Advisors LLC acquired a new stake in Miami International during the 3rd quarter valued at $3,083,000.

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.