Short Interest in Miami International Holdings, Inc. (NYSE:MIAX) Rises By 34.7%

Miami International Holdings, Inc. (NYSE:MIAX) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 3,394,120 shares, a growth of 34.7% from the March 15th total of 2,519,833 shares. Approximately 3.7% of the shares of the company are short sold. Based on an average daily trading volume, of 1,318,205 shares, the days-to-cover ratio is currently 2.6 days.

Insider Buying and Selling

In other Miami International news, Director Murray Stahl sold 121,054 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were 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 owned 4,689,466 shares in the company, valued at $191,892,948.72. This trade 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 available at this link. Also, EVP Shelly Brown sold 25,932 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were 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 owned 299,197 shares in the company, valued at approximately $11,767,418.01. This represents a 7.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 267,629 shares of company stock worth $10,812,697.

Institutional Trading of Miami International

Several institutional investors and hedge funds have recently made changes to their positions in MIAX. T. Rowe Price Investment Management Inc. lifted its stake in shares of Miami International by 24.5% in 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 purchasing an additional 595,096 shares during the period. Vanguard Group Inc. lifted its stake in Miami International by 39.5% in the fourth quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock valued at $85,577,000 after buying an additional 545,770 shares during the period. Horizon Kinetics Asset Management LLC boosted its holdings in Miami International by 31.6% during the fourth 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 during the last quarter. Alyeska Investment Group L.P. grew its position in shares of Miami International by 1.6% during 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. Finally, Invesco Ltd. increased its stake in shares of Miami International by 178.8% in the 4th quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock valued at $56,761,000 after acquiring an additional 820,246 shares during the last quarter.

Miami International Stock Performance

MIAX traded up $0.43 during mid-day trading on Friday, reaching $45.28. The stock had a trading volume of 280,772 shares, compared to its average volume of 1,323,081. The firm’s fifty day simple moving average is $40.69 and its two-hundred day simple moving average is $42.87. The stock has a market capitalization of $4.15 billion and a P/E ratio of 83.88. Miami International has a 52 week low of $28.63 and a 52 week high of $51.38.

Miami International (NYSE:MIAX) last posted its quarterly 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 firm had revenue of $369.43 million during the quarter, compared to the consensus estimate of $121.13 million. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year.

Analyst Ratings Changes

Several research analysts have issued reports on MIAX shares. Rosenblatt Securities reiterated a “buy” rating and set a $59.00 price objective on shares of Miami International in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods assumed coverage on shares of Miami International in a report on Wednesday, April 8th. They issued a “market perform” rating and a $40.00 target price on the stock. Zacks Research upgraded shares of Miami International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Morgan Stanley boosted their price target on shares of Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Finally, Wall Street Zen cut shares of Miami International from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.60.

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.