Miami International (NYSE:MIAX) Stock Rating Upgraded by Wall Street Zen

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

Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods lifted their price target on shares of Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, August 7th. Rosenblatt Securities raised their price objective on shares of Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of Miami International in a research report on Friday, August 7th. JPMorgan Chase & Co. upped their target price on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Zacks Research downgraded Miami International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Miami International presently has an average rating of “Hold” and a consensus price target of $52.00.

Miami International Stock Up 0.2%

Shares of MIAX opened at $43.60 on Friday. The business has a fifty day moving average of $41.73 and a 200 day moving average of $42.94. The company has a market cap of $4.33 billion and a PE ratio of 56.62. Miami International has a 52-week low of $28.99 and a 52-week high of $57.14.

Miami International (NYSE:MIAX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The business had revenue of $387.63 million for the quarter. During the same quarter last year, the firm earned $0.48 EPS. The company’s revenue was up 34.8% on a year-over-year basis. As a group, research analysts anticipate that Miami International will post 1.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Miami International news, EVP Barbara J. Comly sold 44,445 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $45.69, for a total value of $2,030,692.05. Following the completion of the sale, the executive vice president directly owned 882,984 shares of the company’s stock, valued at $40,343,538.96. The trade was a 4.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 70,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $42.36, for a total transaction of $2,965,200.00. Following the completion of the transaction, the chief executive officer owned 1,723,275 shares in the company, valued at $72,997,929. This represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 647,508 shares of company stock valued at $27,701,038 in the last 90 days. Company insiders own 15.60% of the company’s stock.

Institutional Trading of Miami International

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Miami International in the second quarter valued at approximately $188,466,000. T. Rowe Price Investment Management Inc. increased its holdings in Miami International by 24.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company’s stock worth $134,282,000 after purchasing an additional 595,096 shares during the period. Vanguard Group Inc. raised its position in Miami International by 39.5% during the 4th quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock valued at $85,577,000 after purchasing an additional 545,770 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its position in Miami International by 31.6% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company’s stock valued at $80,763,000 after purchasing an additional 437,395 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Miami International by 1.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,286,086 shares of the company’s stock worth $57,076,000 after buying an additional 20,350 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.