Miami International (NYSE:MIAX) Now Covered by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods assumed coverage on shares of Miami International (NYSE:MIAX) in a research note released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a market perform rating and a $40.00 price objective on the stock.

Several other analysts also recently weighed in on MIAX. Rosenblatt Securities reaffirmed a “buy” rating and set a $59.00 target price on shares of Miami International in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Miami International in a research note on Friday, March 27th. Zacks Research downgraded Miami International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Miami International currently has a consensus rating of “Hold” and an average price target of $47.20.

Miami International Trading Up 2.1%

Shares of NYSE MIAX opened at $42.20 on Wednesday. The company has a market cap of $3.87 billion and a price-to-earnings ratio of 78.15. Miami International has a 12-month low of $28.63 and a 12-month high of $51.38. The stock’s 50 day simple moving average is $40.50 and its 200 day simple moving average is $42.79.

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

Insider Activity

In other Miami International news, Director Kurt M. Eckert sold 37,917 shares of Miami International stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $39.00, for a total transaction of $1,478,763.00. Following the sale, the director owned 142,375 shares of the company’s stock, valued at $5,552,625. The trade was a 21.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of Miami International stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $39.74, for a total value of $1,907,520.00. Following the sale, the executive vice president directly owned 396,681 shares in the company, valued at $15,764,102.94. The trade was a 10.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 238,860 shares of company stock worth $9,602,933 over the last ninety days.

Hedge Funds Weigh In On Miami International

Several hedge funds have recently modified their holdings of the company. Mad River Investors increased its position in shares of Miami International by 0.6% during the 4th quarter. Mad River Investors now owns 75,050 shares of the company’s stock valued at $3,331,000 after purchasing an additional 450 shares during the period. State of Wyoming acquired a new position in shares of Miami International during the 4th quarter valued at $26,000. National Bank of Canada FI acquired a new position in shares of Miami International during the 3rd quarter valued at $29,000. First Trust Advisors LP increased its position in shares of Miami International by 3.5% during the 4th quarter. First Trust Advisors LP now owns 21,671 shares of the company’s stock valued at $962,000 after purchasing an additional 733 shares during the period. Finally, Coastal Bridge Advisors LLC increased its position in shares of Miami International by 1.1% during the 4th quarter. Coastal Bridge Advisors LLC now owns 77,415 shares of the company’s stock valued at $3,436,000 after purchasing an additional 850 shares during the period.

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.