Miami International Holdings, Inc. (NYSE:MIAX) Sees Large Growth in Short Interest

Miami International Holdings, Inc. (NYSE:MIAX) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 2,007,443 shares, an increase of 50.5% from the November 30th total of 1,334,115 shares. Approximately 2.5% of the shares of the company are sold short. Based on an average trading volume of 916,155 shares, the days-to-cover ratio is currently 2.2 days. Based on an average trading volume of 916,155 shares, the days-to-cover ratio is currently 2.2 days. Approximately 2.5% of the shares of the company are sold short.

Institutional Trading of Miami International

Several institutional investors have recently added to or reduced their stakes in MIAX. Davidson Kempner Capital Management LP bought a new stake in Miami International during the third quarter valued at $1,047,000. Two Sigma Investments LP bought a new stake in shares of Miami International during the 3rd quarter valued at about $2,013,000. Interval Partners LP acquired a new stake in Miami International during the third quarter worth approximately $1,786,000. Squarepoint Ops LLC bought a new stake in Miami International in the third quarter worth approximately $415,000. Finally, Wellington Management Group LLP acquired a new position in Miami International in the third quarter valued at approximately $23,476,000.

Wall Street Analysts Forecast Growth

MIAX has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Miami International from $32.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Raymond James Financial assumed coverage on Miami International in a report on Monday, September 8th. They set a “market perform” rating for the company. William Blair initiated coverage on shares of Miami International in a research report on Monday, September 8th. They issued an “outperform” rating for the company. Keefe, Bruyette & Woods raised their target price on shares of Miami International from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Thursday, November 6th. Finally, Zacks Research raised Miami International from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.20.

Miami International Stock Performance

Shares of MIAX traded down $0.36 during trading hours on Monday, reaching $46.32. The stock had a trading volume of 180,515 shares, compared to its average volume of 797,333. The stock has a 50-day moving average price of $45.13. Miami International has a 12 month low of $28.63 and a 12 month high of $51.38.

Miami International (NYSE:MIAX) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 earnings per share.

About Miami International

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.