Miami International (NYSE:MIAX) Shares Gap Down Following Analyst Downgrade

Miami International Holdings, Inc. (NYSE:MIAX)’s stock price gapped down before the market opened on Friday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $45.68, but opened at $44.44. Miami International shares last traded at $44.2050, with a volume of 12,455 shares changing hands.

Several other equities analysts have also recently commented on MIAX. Wall Street Zen upgraded shares of Miami International from a “hold” rating to a “buy” rating in a report on Saturday, December 27th. William Blair assumed coverage on Miami International in a research note on Monday, September 8th. They issued an “outperform” rating on the stock. Morgan Stanley upped their target price on Miami International from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Miami International in a report on Monday, December 29th. Finally, Raymond James Financial assumed coverage on Miami International in a report on Monday, September 8th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Miami International currently has an average rating of “Hold” and a consensus target price of $47.20.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. acquired a new stake in Miami International in the 3rd quarter worth approximately $55,660,000. Alyeska Investment Group L.P. bought a new position in shares of Miami International in the third quarter valued at approximately $50,959,000. JPMorgan Chase & Co. bought a new position in shares of Miami International in the third quarter valued at approximately $32,679,000. North Reef Capital Management LP acquired a new stake in shares of Miami International in the third quarter worth $29,221,000. Finally, Caldwell Investment Management Ltd. bought a new stake in shares of Miami International during the 3rd quarter worth $27,056,000.

Miami International Trading Down 1.6%

The firm has a fifty day simple moving average of $45.37.

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

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.