Miami International (NYSE:MIAX) Rating Lowered to “Hold” at Wall Street Zen

Miami International (NYSE:MIAX) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other brokerages also recently commented on MIAX. Weiss Ratings restated a “sell (d+)” rating on shares of Miami International in a research note 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 target on shares of Miami International in a report on Thursday, March 5th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $48.00.

Miami International Price Performance

NYSE:MIAX opened at $37.30 on Friday. The company has a market cap of $3.42 billion and a P/E ratio of 69.06. The stock’s fifty day moving average price is $40.94 and its two-hundred day moving average price is $42.63. Miami International has a 1 year low of $28.63 and a 1 year 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, beating the consensus estimate of $0.41 by $0.11. The company had revenue of $369.43 million during the quarter, compared to analysts’ expectations of $121.13 million. The company’s revenue was up 14.0% compared to the same quarter last year.

Insiders Place Their Bets

In other Miami International news, Director Murray Stahl sold 121,054 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $40.92, for a total value of $4,953,529.68. Following the transaction, the director directly owned 4,689,466 shares in the company, valued at $191,892,948.72. This represents a 2.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kurt M. Eckert sold 37,917 shares of Miami International stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $39.00, for a total value of $1,478,763.00. Following the sale, the director owned 142,375 shares of the company’s stock, valued at approximately $5,552,625. This trade represents a 21.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 232,903 shares of company stock valued at $9,359,718 in the last ninety days.

Hedge Funds Weigh In On Miami International

A number of hedge funds and other institutional investors have recently bought and sold shares of MIAX. Allspring Global Investments Holdings LLC purchased a new stake in shares of Miami International during the 3rd quarter valued at $17,684,000. Coastal Bridge Advisors LLC purchased a new position in Miami International in the third quarter worth $3,083,000. Victory Capital Management Inc. purchased a new position in Miami International in the third quarter worth $12,168,000. Federated Hermes Inc. bought a new position in Miami International in the third quarter valued at $10,065,000. Finally, Pekin Hardy Strauss Inc. purchased a new stake in Miami International during the third quarter valued at about $1,033,000.

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.