Miami International Holdings, Inc. (NYSE:MIAX) Sees Large Growth in Short Interest

Miami International Holdings, Inc. (NYSE:MIAX) saw a large growth in short interest in December. As of December 15th, there was short interest totaling 2,007,443 shares, a growth of 50.5% from the November 30th total of 1,334,115 shares. Approximately 2.5% of the company’s shares are short sold. Based on an average trading volume of 916,155 shares, the days-to-cover ratio is presently 2.2 days. Based on an average trading volume of 916,155 shares, the days-to-cover ratio is presently 2.2 days. Approximately 2.5% of the company’s shares are short sold.

Institutional Trading of Miami International

Several institutional investors and hedge funds have recently modified their holdings of MIAX. Allspring Global Investments Holdings LLC bought a new stake in shares of Miami International during the 3rd quarter worth $17,684,000. Caldwell Investment Management Ltd. bought a new stake in Miami International during the third quarter worth about $27,056,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Miami International in the 3rd quarter worth about $101,000. Atlas Wealth Partners LLC bought a new position in shares of Miami International during the 3rd quarter valued at about $881,000. Finally, Federated Hermes Inc. purchased a new position in shares of Miami International during the 3rd quarter valued at about $10,065,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Raymond James Financial assumed coverage on Miami International in a report on Monday, September 8th. They set a “market perform” rating for the company. William Blair assumed coverage on Miami International in a report on Monday, September 8th. They set an “outperform” rating for the company. Keefe, Bruyette & Woods increased their price target on Miami International from $43.00 to $44.00 and gave the company a “market perform” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Miami International in a report on Monday, December 22nd. Finally, Morgan Stanley raised their price target on shares of Miami International from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.20.

Miami International Stock Down 0.8%

NYSE:MIAX traded down $0.36 on Monday, reaching $46.32. 180,515 shares of the company’s stock were exchanged, compared to its average volume of 797,333. The company has a fifty day moving average of $45.13. Miami International has a 52 week low of $28.63 and a 52 week high of $51.38.

Miami International (NYSE:MIAX) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. During the same quarter in the previous year, the business earned $0.11 earnings per share. The business’s revenue was up 57.4% on a year-over-year basis.

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.