Miami International (NYSE:MIAX) Given “Market Perform” Rating at Keefe, Bruyette & Woods

Miami International (NYSE:MIAX)‘s stock had its “market perform” rating reiterated by equities research analysts at Keefe, Bruyette & Woods in a research note issued on Wednesday,Benzinga reports. They presently have a $40.00 price target on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 3.15% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Miami International in a research report on Friday, March 27th. Rosenblatt Securities reissued a “buy” rating and set a $59.00 price target on shares of Miami International in a research report on Tuesday. Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Zacks Research downgraded Miami International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $47.20.

Miami International Trading Down 0.8%

NYSE MIAX opened at $41.30 on Wednesday. The firm’s fifty day moving average price is $40.48 and its two-hundred day moving average price is $42.80. Miami International has a 1 year low of $28.63 and a 1 year high of $51.38. The firm has a market capitalization of $3.79 billion and a P/E ratio of 76.48.

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

Insider Buying and Selling

In other news, Director Murray Stahl sold 121,054 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $40.92, for a total value of $4,953,529.68. Following the transaction, the director directly owned 4,689,466 shares of the company’s stock, valued at $191,892,948.72. This represents a 2.52% 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 link. Also, Director Kurt M. Eckert sold 37,917 shares of the stock in a transaction dated 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 transaction, the director directly owned 142,375 shares in the company, valued at $5,552,625. The trade was a 21.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 235,603 shares of company stock valued at $9,467,718.

Hedge Funds Weigh In On Miami International

Several large investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. raised its position in shares of Miami International by 24.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company’s stock valued at $134,282,000 after purchasing an additional 595,096 shares during the period. Vanguard Group Inc. raised its position in shares of Miami International by 39.5% in the fourth quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock valued at $85,577,000 after purchasing an additional 545,770 shares during the period. Horizon Kinetics Asset Management LLC raised its position in shares of Miami International by 31.6% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company’s stock valued at $80,763,000 after purchasing an additional 437,395 shares during the period. Alyeska Investment Group L.P. raised its position in shares of Miami International by 1.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,286,086 shares of the company’s stock valued at $57,076,000 after purchasing an additional 20,350 shares during the period. Finally, Invesco Ltd. raised its position in shares of Miami International by 178.8% in the fourth quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock valued at $56,761,000 after purchasing an additional 820,246 shares during the period.

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.