Miami International (NYSE:MIAX) Rating Increased to Buy at Wall Street Zen

Miami International (NYSE:MIAX) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages also recently issued reports on MIAX. Zacks Research downgraded shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Weiss Ratings restated a “sell (d+)” rating on shares of Miami International in a research report on Monday, December 29th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $59.00 target price on shares of Miami International in a report on Thursday. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $48.00.

Miami International Stock Performance

Shares of NYSE:MIAX opened at $40.93 on Friday. Miami International has a 1 year low of $28.63 and a 1 year high of $51.38. The company has a market capitalization of $3.33 billion and a P/E ratio of 75.80. The firm’s fifty day simple moving average is $42.29.

Miami International (NYSE:MIAX) last issued its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.11. The business had revenue of $369.43 million during the quarter, compared to analysts’ expectations of $121.13 million. Miami International’s revenue for the quarter was up 14.0% on a year-over-year basis.

Insider Transactions at Miami International

In other Miami International news, Director Murray Stahl sold 121,054 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was 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 approximately $191,892,948.72. This trade represents a 2.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On Miami International

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. bought a new position in shares of Miami International in the 3rd quarter worth approximately $55,660,000. Alyeska Investment Group L.P. bought a new stake in Miami International during the third quarter valued at approximately $50,959,000. Invesco Ltd. increased its holdings in Miami International by 178.8% during the fourth quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock valued at $56,761,000 after buying an additional 820,246 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Miami International in the third quarter worth approximately $32,679,000. Finally, North Reef Capital Management LP purchased a new position in shares of Miami International during the 3rd quarter worth $29,221,000.

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.