Short Interest in Miami International Holdings, Inc. (NYSE:MIAX) Declines By 33.8%

Miami International Holdings, Inc. (NYSE:MIAX) saw a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 2,246,370 shares, a drop of 33.8% from the March 31st total of 3,394,120 shares. Based on an average daily volume of 1,385,158 shares, the days-to-cover ratio is presently 1.6 days. Currently, 2.5% of the company’s stock are sold short.

Insider Buying and Selling

In other Miami International news, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $39.74, for a total value of $1,907,520.00. Following the transaction, the executive vice president directly owned 396,681 shares of the company’s stock, valued at $15,764,102.94. This trade represents a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Murray Stahl sold 121,054 shares of the firm’s 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 completion of the transaction, the director directly owned 4,689,466 shares in the company, valued at $191,892,948.72. This trade represents a 2.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 521,321 shares of company stock valued at $21,837,057 over the last ninety days.

Hedge Funds Weigh In On Miami International

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in Miami International in the third quarter worth about $17,684,000. Coastal Bridge Advisors LLC acquired a new position in Miami International in the third quarter worth about $3,083,000. Victory Capital Management Inc. acquired a new position in Miami International in the third quarter worth about $12,168,000. Pekin Hardy Strauss Inc. acquired a new position in Miami International in the third quarter worth about $1,033,000. Finally, Federated Hermes Inc. acquired a new position in Miami International in the third quarter worth about $10,065,000.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MIAX shares. Rosenblatt Securities reissued a “buy” rating and issued a $59.00 price objective on shares of Miami International in a research report on Tuesday, April 7th. Keefe, Bruyette & Woods initiated coverage on Miami International in a research note on Wednesday, April 8th. They set a “market perform” rating and a $40.00 target price for the company. Morgan Stanley raised their target price on Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Weiss Ratings restated a “sell (d+)” rating on shares of Miami International in a research note on Friday, March 27th. Finally, Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.60.

Miami International Stock Down 2.5%

Shares of Miami International stock traded down $1.20 during trading hours on Thursday, hitting $46.44. 708,488 shares of the company’s stock traded hands, compared to its average volume of 1,021,083. The company has a market cap of $4.40 billion and a PE ratio of 86.00. Miami International has a twelve month low of $28.63 and a twelve month high of $51.38. The stock has a 50 day simple moving average of $41.61 and a 200-day simple moving average of $43.13.

Miami International (NYSE:MIAX) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.11. The firm had revenue of $369.43 million during the quarter, compared to analyst estimates of $121.13 million. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities research analysts predict that Miami International will post 1.45 EPS for the current year.

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.