Miami International (NYSE:MIAX) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of Miami International (NYSE:MIAX) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Weiss Ratings raised Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Morgan Stanley boosted their price objective on Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Rosenblatt Securities raised their target price on shares of Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Miami International presently has an average rating of “Hold” and a consensus price target of $51.20.

Miami International Price Performance

Shares of MIAX opened at $36.52 on Tuesday. The firm has a market capitalization of $3.47 billion and a P/E ratio of 38.04. Miami International has a one year low of $28.63 and a one year high of $57.14. The business has a fifty day moving average of $45.74 and a 200 day moving average of $43.33.

Miami International (NYSE:MIAX) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $369.69 million during the quarter, compared to analysts’ expectations of $122.74 million. During the same period in the previous year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 40.0% on a year-over-year basis. Analysts expect that Miami International will post 1.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Miami International news, CEO Thomas P. Gallagher sold 174,125 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $43.36, for a total transaction of $7,550,060.00. Following the completion of the sale, the chief executive officer directly owned 1,723,275 shares of the company’s stock, valued at $74,721,204. This trade represents a 9.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $47.25, for a total transaction of $2,268,000.00. Following the completion of the transaction, the executive vice president directly owned 396,681 shares in the company, valued at $18,743,177.25. This trade represents a 10.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 710,022 shares of company stock valued at $31,615,730. 15.60% of the stock is owned by company insiders.

Institutional Trading of Miami International

Hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its position in shares of 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 valued at $134,282,000 after acquiring an additional 595,096 shares during the last quarter. Vanguard Group Inc. lifted its position in Miami International by 39.5% during the fourth 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 during the last quarter. Horizon Kinetics Asset Management LLC grew its stake in shares of Miami International by 31.6% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company’s stock worth $80,763,000 after buying an additional 437,395 shares in the last quarter. Alyeska Investment Group L.P. increased 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 last quarter. Finally, Invesco Ltd. raised its position in shares of Miami International by 178.8% during the 4th quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock valued at $56,761,000 after buying an additional 820,246 shares in the last quarter.

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.