Miami International (NYSE:MIAX) Earns Buy Rating from Rosenblatt Securities

Miami International (NYSE:MIAX)‘s stock had its “buy” rating restated by equities researchers at Rosenblatt Securities in a report issued on Tuesday,Benzinga reports. They currently have a $59.00 price objective on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 41.61% from the stock’s previous close.

MIAX has been the subject of several other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Miami International in a research report on Friday, March 27th. Zacks Research cut shares of Miami International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Wall Street Zen cut shares of Miami International from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $48.00.

Miami International Price Performance

MIAX stock opened at $41.66 on Tuesday. The company has a 50 day moving average price of $40.49 and a 200 day moving average price of $42.78. Miami International has a fifty-two week low of $28.63 and a fifty-two week high of $51.38. The stock has a market capitalization of $3.82 billion and a PE ratio of 77.16.

Miami International (NYSE:MIAX) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.11. The company had revenue of $369.43 million during the quarter, compared to the consensus estimate of $121.13 million. The business’s revenue was up 14.0% on a year-over-year basis.

Insider Activity at Miami International

In other Miami International news, Director Kurt M. Eckert sold 37,917 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $39.00, for a total transaction of $1,478,763.00. Following the completion of the sale, the director owned 142,375 shares in the company, valued at approximately $5,552,625. The trade was a 21.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Murray Stahl bought 7,200 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were acquired at an average price of $43.38 per share, with a total value of $312,336.00. Following the transaction, the director directly owned 4,633,842 shares in the company, valued at approximately $201,016,065.96. The trade was a 0.16% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 235,603 shares of company stock worth $9,467,718.

Institutional Trading of Miami International

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. acquired a new position in shares of Miami International in the 3rd quarter valued at $55,660,000. Alyeska Investment Group L.P. acquired a new position in shares of Miami International in the 3rd quarter valued at $50,959,000. Invesco Ltd. grew its holdings in shares of Miami International by 178.8% in the 4th quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock valued at $56,761,000 after buying an additional 820,246 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Miami International in the 3rd quarter valued at $32,679,000. Finally, North Reef Capital Management LP acquired a new position in shares of Miami International in the 3rd quarter valued at $29,221,000.

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.