Miami International Holdings, Inc. (NYSE:MIAX) Short Interest Down 18.0% in February

Miami International Holdings, Inc. (NYSE:MIAX) was the recipient of a significant drop in short interest in February. As of February 27th, there was short interest totaling 2,169,226 shares, a drop of 18.0% from the February 12th total of 2,643,801 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,142,481 shares, the short-interest ratio is currently 1.0 days. Based on an average daily trading volume, of 2,142,481 shares, the short-interest ratio is currently 1.0 days. Currently, 2.7% of the shares of the stock are sold short.

Miami International Price Performance

Shares of NYSE:MIAX traded up $0.99 during mid-day trading on Monday, reaching $39.46. 1,009,592 shares of the company were exchanged, compared to its average volume of 1,670,008. Miami International has a 1 year low of $28.63 and a 1 year high of $51.38. The firm’s 50-day simple moving average is $41.63 and its 200 day simple moving average is $42.55. The firm has a market cap of $3.62 billion and a price-to-earnings ratio of 73.06.

Miami International (NYSE:MIAX) last announced its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.11. The firm 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% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MIAX. Weiss Ratings restated a “sell (d+)” rating on shares of Miami International in a report on Monday, December 29th. Rosenblatt Securities reiterated a “buy” rating and set a $59.00 price objective on shares of Miami International in a research report on Thursday, March 5th. Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Wall Street Zen upgraded Miami International from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Four research 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.00.

Insiders Place Their Bets

In related news, Director Murray Stahl sold 121,054 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $40.92, for a total transaction of $4,953,529.68. Following the completion of the sale, the director owned 4,689,466 shares of the company’s stock, valued at approximately $191,892,948.72. This represents a 2.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Miami International

Several institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in Miami International during the 3rd quarter valued at about $17,684,000. Caldwell Investment Management Ltd. purchased a new stake in Miami International during the third quarter worth about $27,056,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Miami International during the third quarter worth about $101,000. Atlas Wealth Partners LLC acquired a new stake in shares of Miami International during the third quarter worth about $881,000. Finally, Federated Hermes Inc. purchased a new position in shares of Miami International in the third quarter valued at approximately $10,065,000.

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.