Miami International (NYSE:MIAX) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Miami International (NYSE:MIAX) from a buy rating to a hold rating in a report released on Saturday morning.

Other research analysts have also issued research reports about the company. Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Miami International in a report on Monday, December 29th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $59.00 price target on shares of Miami International in a research report on Thursday, March 5th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $48.00.

Miami International Price Performance

NYSE:MIAX opened at $37.48 on Friday. Miami International has a one year low of $28.63 and a one year high of $51.38. The company has a market cap of $3.43 billion and a PE ratio of 69.40. The firm has a 50-day moving average of $40.82 and a 200-day moving average of $42.71.

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

Insider Activity

In other Miami International news, Director Murray Stahl bought 7,200 shares of Miami International stock in a transaction dated Wednesday, March 4th. The stock was bought at an average cost of $43.38 per share, with a total value of $312,336.00. Following the completion of the acquisition, the director directly owned 4,633,842 shares in the company, valued at approximately $201,016,065.96. The trade was a 0.16% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kurt M. Eckert sold 37,917 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $39.00, for a total value of $1,478,763.00. Following the sale, the director directly owned 142,375 shares of the company’s stock, valued at $5,552,625. The trade was a 21.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 232,903 shares of company stock worth $9,359,718.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MIAX. State of Wyoming bought a new position in Miami International in the 4th quarter valued at $26,000. National Bank of Canada FI bought a new stake in shares of Miami International during the 3rd quarter worth $29,000. Comerica Bank raised its stake in shares of Miami International by 295.6% during the 4th quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after purchasing an additional 937 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Miami International in the 4th quarter worth about $66,000. Finally, SG Americas Securities LLC bought a new position in Miami International during the fourth quarter valued at about $105,000.

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.