Miami International (NYSE:MIAX) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Miami International (NYSE:MIAX) from a buy rating to a hold rating in a research report report published on Sunday.

Several other analysts also recently commented on the stock. Rosenblatt Securities lifted their target price on shares of Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Keefe, Bruyette & Woods increased their price target on shares of Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Miami International in a research report on Friday, August 7th. Morgan Stanley boosted their price objective on Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Finally, Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $52.00.

Miami International Price Performance

Shares of Miami International stock opened at $44.30 on Friday. The business has a fifty day simple moving average of $41.91 and a two-hundred day simple moving average of $43.00. Miami International has a 1 year low of $32.19 and a 1 year high of $57.14. The company has a market capitalization of $4.40 billion and a price-to-earnings ratio of 57.54.

Miami International (NYSE:MIAX) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. The firm had revenue of $387.63 million for the quarter. Miami International had a net margin of 9.70% and a return on equity of 16.95%. Miami International’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. As a group, equities analysts anticipate that Miami International will post 1.69 earnings per share for the current fiscal year.

Insider Activity at Miami International

In other news, EVP Barbara J. Comly sold 44,445 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $45.69, for a total transaction of $2,030,692.05. Following the transaction, the executive vice president directly owned 882,984 shares of the company’s stock, valued at approximately $40,343,538.96. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of Miami International stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $42.84, for a total transaction of $2,056,320.00. Following the completion of the sale, the executive vice president owned 396,681 shares of the company’s stock, valued at approximately $16,993,814.04. The trade was a 10.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 797,208 shares of company stock worth $33,858,199. Corporate insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Miami International

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new position in Miami International in the 3rd quarter valued at $55,660,000. First Trust Advisors LP acquired a new stake in shares of Miami International during the 3rd quarter worth $843,000. Legal & General Group Plc acquired a new stake in shares of Miami International during the 3rd quarter worth $302,000. Franklin Resources Inc. bought a new position in shares of Miami International in the third quarter worth $17,403,000. Finally, Sei Investments Co. bought a new position in shares of Miami International in the third quarter worth $4,074,000.

Miami International Company Profile

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.