Miami International (NYSE:MIAX) Lowered to Hold Rating by Zacks Research

Zacks Research downgraded shares of Miami International (NYSE:MIAX) from a strong-buy rating to a hold rating in a report released on Thursday morning,Zacks.com reports.

Other analysts have also recently issued reports about the company. Morgan Stanley upped their target price on Miami International from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Wall Street Zen upgraded shares of Miami International from a “hold” rating to a “buy” rating in a research report on Saturday, December 27th. Raymond James Financial began coverage on shares of Miami International in a report on Monday, September 8th. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods increased their price target on shares of Miami International from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Thursday, November 6th. Finally, William Blair started coverage on shares of Miami International in a research report on Monday, September 8th. They set an “outperform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.20.

Miami International Trading Down 1.6%

NYSE MIAX opened at $43.69 on Thursday. The firm has a fifty day moving average of $45.37. Miami International has a 12 month low of $28.63 and a 12 month 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 (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.12. Miami International’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 earnings per share.

Hedge Funds Weigh In On Miami International

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. purchased a new position in Miami International during the 3rd quarter worth $55,660,000. Alyeska Investment Group L.P. acquired a new position in shares of Miami International during the third quarter worth about $50,959,000. JPMorgan Chase & Co. purchased a new position in Miami International during the third quarter worth about $32,679,000. North Reef Capital Management LP acquired a new stake in Miami International in the third quarter valued at about $29,221,000. Finally, Caldwell Investment Management Ltd. purchased a new stake in Miami International in the 3rd quarter valued at approximately $27,056,000.

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.