Miami International (NYSE:MIAX) Given “Market Perform” Rating at Keefe, Bruyette & Woods

Miami International (NYSE:MIAX)‘s stock had its “market perform” rating reissued by stock analysts at Keefe, Bruyette & Woods in a note issued to investors on Wednesday,Benzinga reports. They presently have a $40.00 target price on the stock. Keefe, Bruyette & Woods’ target price points to a potential downside of 3.15% from the stock’s current price.

A number of other research analysts have also recently issued reports on MIAX. Weiss Ratings restated a “sell (d+)” rating on shares of Miami International in a report on Friday, March 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $59.00 price target on shares of Miami International in a report on Tuesday. Wall Street Zen cut shares of Miami International from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Zacks Research cut shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. 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 presently has an average rating of “Hold” and an average target price of $47.20.

Miami International Stock Performance

Shares of NYSE MIAX opened at $41.30 on Wednesday. The stock has a market cap of $3.79 billion and a P/E ratio of 76.48. The firm has a 50 day moving average price of $40.48 and a 200 day moving average price of $42.80. Miami International has a 52-week low of $28.63 and a 52-week high of $51.38.

Miami International (NYSE:MIAX) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $121.13 million. The business’s quarterly revenue was up 14.0% compared to the same quarter last year.

Insider Buying and Selling

In other news, EVP Shelly Brown sold 25,932 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $39.33, for a total value of $1,019,905.56. Following the completion of the transaction, the executive vice president owned 299,197 shares in the company, valued at $11,767,418.01. This represents a 7.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Murray Stahl sold 121,054 shares of the company’s stock in a transaction that occurred on 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 transaction, the director owned 4,689,466 shares of the company’s stock, valued at $191,892,948.72. This trade represents a 2.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 235,603 shares of company stock valued at $9,467,718.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MIAX. Vanguard Group Inc. acquired a new position in Miami International during the third quarter worth $55,660,000. Alyeska Investment Group L.P. acquired a new position in Miami International during the third quarter worth $50,959,000. Invesco Ltd. boosted 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 worth $56,761,000 after purchasing an additional 820,246 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Miami International during the third quarter worth $32,679,000. Finally, North Reef Capital Management LP acquired a new position in Miami International during the third quarter worth $29,221,000.

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.