Miami International (NYSE:MIAX) Cut to Hold at Wall Street Zen

Miami International (NYSE:MIAX) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other equities analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Miami International in a report on Monday, December 29th. Zacks Research downgraded shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $59.00 price target on shares of Miami International in a research report on Thursday, March 5th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.00.

Miami International Stock Down 2.6%

Shares of Miami International stock opened at $37.30 on Friday. Miami International has a 52 week low of $28.63 and a 52 week high of $51.38. The business has a 50 day moving average price of $40.94 and a 200-day moving average price of $42.63. The company has a market cap of $3.42 billion and a PE ratio of 69.06.

Miami International (NYSE:MIAX) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $121.13 million. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year.

Insider Transactions at Miami International

In other Miami International news, Director Murray Stahl sold 121,054 shares of the stock in a transaction on Monday, March 2nd. The stock was 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 directly owned 4,689,466 shares of the company’s stock, valued at approximately $191,892,948.72. This represents a 2.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Shelly Brown sold 25,932 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $39.33, for a total value of $1,019,905.56. Following the completion of the sale, the executive vice president directly owned 299,197 shares of the company’s stock, valued at $11,767,418.01. This represents a 7.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 232,903 shares of company stock worth $9,359,718 in the last ninety days.

Institutional Investors Weigh In On Miami International

Several large investors have recently added to or reduced their stakes in MIAX. State of Wyoming bought a new stake in Miami International in the 4th quarter valued at about $26,000. National Bank of Canada FI bought a new position in Miami International during the third quarter worth about $29,000. Comerica Bank boosted its position in Miami International by 295.6% during the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after purchasing an additional 937 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Miami International in the fourth quarter worth about $66,000. Finally, SG Americas Securities LLC purchased a new position in shares of Miami International in the fourth quarter worth about $105,000.

Miami International Company Profile

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.