Miami International’s (MIAX) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Miami International (NYSE:MIAX) in a report issued on Thursday,Benzinga reports. Rosenblatt Securities currently has a $59.00 price target on the stock.

Several other research firms have also commented on MIAX. Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Zacks Research cut Miami International from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Miami International in a research note on Monday, December 29th. Finally, 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 research report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $48.00.

Miami International Stock Down 3.4%

Shares of MIAX opened at $40.93 on Thursday. Miami International has a 1 year low of $28.63 and a 1 year high of $51.38. The firm’s 50 day moving average price is $42.29. The stock has a market capitalization of $3.33 billion and a P/E ratio of 75.80.

Miami International (NYSE:MIAX) last issued 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 analyst estimates of $121.13 million. The company’s revenue 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 the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was purchased at an average price of $43.38 per share, with a total value of $312,336.00. Following the transaction, the director owned 4,633,842 shares in the company, valued at $201,016,065.96. This trade represents a 0.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On Miami International

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. acquired a new stake in shares of Miami International in the third quarter worth $55,660,000. Alyeska Investment Group L.P. purchased a new stake in Miami International during the 3rd quarter worth $50,959,000. Invesco Ltd. increased its holdings in Miami International by 178.8% in the 4th quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock valued at $56,761,000 after purchasing an additional 820,246 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Miami International in the third quarter valued at about $32,679,000. Finally, North Reef Capital Management LP purchased a new stake in shares of Miami International during the 3rd quarter valued at about $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.