Wall Street Zen Upgrades Miami International (NYSE:MIAX) to “Buy”

Miami International (NYSE:MIAX) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Miami International in a research report on Monday, December 29th. Zacks Research cut Miami International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $59.00 price objective on shares of Miami International in a research note on Thursday. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $48.00.

Miami International Price Performance

MIAX stock opened at $40.93 on Friday. The stock’s 50-day moving average is $42.29. The company has a market cap of $3.33 billion and a P/E ratio of 75.80. Miami International has a 52 week low of $28.63 and a 52 week high of $51.38.

Miami International (NYSE:MIAX) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, beating 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. The company’s revenue was up 14.0% compared to the same quarter last year.

Insider Buying and Selling

In other Miami International news, Director Murray Stahl bought 7,200 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was acquired at an average cost of $43.38 per share, with a total value of $312,336.00. Following the completion of the purchase, the director directly owned 4,633,842 shares in the company, valued at approximately $201,016,065.96. This trade represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. State of Wyoming bought a new position in shares of Miami International in the fourth quarter valued at $26,000. National Bank of Canada FI bought a new stake in shares of Miami International during the 3rd quarter worth $29,000. Comerica Bank grew its holdings in shares of Miami International by 295.6% in the 4th quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after acquiring an additional 937 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Miami International in the 4th quarter worth $66,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Miami International during the fourth quarter worth $105,000.

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.