Miami International (NYSE:MIAX) Rating Increased to Strong-Buy at Zacks Research

Miami International (NYSE:MIAX) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on MIAX. Rosenblatt Securities reiterated a “buy” rating and set a $59.00 price target on shares of Miami International in a research report on Tuesday, April 7th. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Morgan Stanley increased their price target on Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Weiss Ratings restated a “sell (d+)” rating on shares of Miami International in a research report on Friday, March 27th. Finally, Keefe, Bruyette & Woods assumed coverage on Miami International in a research report on Wednesday, April 8th. They issued a “market perform” rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Miami International has a consensus rating of “Moderate Buy” and an average price target of $47.60.

Miami International Trading Up 1.5%

Shares of Miami International stock opened at $44.87 on Wednesday. The business’s 50 day simple moving average is $40.69 and its 200-day simple moving average is $42.87. The stock has a market capitalization of $4.11 billion and a price-to-earnings ratio of 83.10. Miami International has a twelve month low of $28.63 and a twelve month high of $51.38.

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

Insider Activity at Miami International

In other news, EVP Shelly Brown sold 25,932 shares of Miami International stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $39.33, for a total transaction of $1,019,905.56. Following the transaction, the executive vice president directly owned 299,197 shares in the company, valued at approximately $11,767,418.01. This trade represents a 7.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Murray Stahl sold 121,054 shares of Miami International stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $40.92, for a total value of $4,953,529.68. Following the transaction, the director owned 4,689,466 shares in the company, valued at approximately $191,892,948.72. This trade represents a 2.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 267,629 shares of company stock worth $10,812,697 in the last quarter.

Hedge Funds Weigh In On Miami International

Hedge funds have recently modified their holdings of the stock. State of Wyoming acquired a new position in shares of Miami International in the 4th quarter worth $26,000. National Bank of Canada FI acquired a new position in shares of Miami International in 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, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Miami International in the 3rd quarter worth $101,000.

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.