Brokerages Set Miami International Holdings, Inc. (NYSE:MIAX) Price Target at $48.00

Shares of Miami International Holdings, Inc. (NYSE:MIAX) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $48.00.

Several research analysts have commented on MIAX shares. Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Miami International in a report on Monday, December 29th. Rosenblatt Securities reiterated a “buy” rating and set a $59.00 price objective on shares of Miami International in a research report on Thursday, March 5th. Finally, Zacks Research downgraded shares of Miami International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st.

Miami International Stock Performance

Shares of MIAX stock opened at $37.30 on Friday. Miami International has a fifty-two week low of $28.63 and a fifty-two week high of $51.38. The stock’s fifty day moving average price is $40.94 and its two-hundred day moving average price is $42.71. The company has a market cap of $3.42 billion and a PE ratio of 69.06.

Miami International (NYSE:MIAX) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.52 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. Miami International’s quarterly revenue was up 14.0% on a year-over-year basis.

Insider Transactions at Miami International

In related news, Director Murray Stahl sold 121,054 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $40.92, for a total transaction of $4,953,529.68. Following the sale, the director owned 4,689,466 shares of the company’s stock, valued at $191,892,948.72. This trade represents a 2.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the business’s stock in a transaction on 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 sale, the executive vice president owned 396,681 shares in the company, valued at $15,764,102.94. This represents a 10.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 232,903 shares of company stock valued at $9,359,718 over the last quarter.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in Miami International in the 3rd quarter valued at approximately $17,684,000. Coastal Bridge Advisors LLC bought a new position in shares of Miami International during the third quarter valued at $3,083,000. Victory Capital Management Inc. acquired a new position in shares of Miami International during the third quarter worth $12,168,000. Federated Hermes Inc. bought a new stake in shares of Miami International in the third quarter worth $10,065,000. Finally, Pekin Hardy Strauss Inc. bought a new stake in shares of Miami International in the third quarter worth $1,033,000.

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.