Miami International (NYSE:MIAX) Lowered to “Hold” Rating by Wall Street Zen

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

A number of other research analysts have also recently commented on the stock. Morgan Stanley boosted their target price on shares of Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Rosenblatt Securities boosted their target price on shares of Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Keefe, Bruyette & Woods boosted their target price on shares of Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, May 8th. Weiss Ratings raised shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Zacks Research raised shares of Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.20.

Miami International Trading Up 0.1%

NYSE MIAX opened at $56.23 on Friday. The company’s fifty day simple moving average is $43.57 and its 200-day simple moving average is $43.73. Miami International has a 52 week low of $28.63 and a 52 week high of $57.14. The stock has a market cap of $5.34 billion and a P/E ratio of 58.58.

Miami International (NYSE:MIAX) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $369.69 million for the quarter, compared to analyst estimates of $122.74 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The company’s revenue for the quarter was up 40.0% on a year-over-year basis. On average, research analysts expect that Miami International will post 1.53 EPS for the current fiscal year.

Insider Transactions at Miami International

In related news, EVP Shelly Brown sold 16,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $47.28, for a total value of $756,480.00. Following the sale, the executive vice president directly owned 325,047 shares of the company’s stock, valued at $15,368,222.16. This represents a 4.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $47.25, for a total transaction of $2,268,000.00. Following the completion of the sale, the executive vice president directly owned 396,681 shares in the company, valued at $18,743,177.25. This represents a 10.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 687,175 shares of company stock valued at $29,675,666 over the last ninety days.

Institutional Trading of Miami International

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Miami International by 39.5% during the fourth quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock worth $85,577,000 after purchasing an additional 545,770 shares during the period. Coastal Bridge Advisors LLC acquired a new stake in shares of Miami International during the third quarter worth $3,083,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Miami International during the third quarter worth $1,033,000. Federated Hermes Inc. acquired a new stake in shares of Miami International during the third quarter worth $10,065,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Miami International during the third quarter worth $12,168,000.

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.