Miami International (NYSE:MIAX) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Miami International (NYSE:MIAX) from a buy rating to a hold rating in a research report sent to investors on Sunday.

A number of other equities research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods boosted 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. JPMorgan Chase & Co. raised their price objective on shares of Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Miami International in a research note on Friday, August 7th. Rosenblatt Securities raised their price target on Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Morgan Stanley lifted their price objective on Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Miami International presently has a consensus rating of “Hold” and a consensus target price of $52.00.

Miami International Stock Down 0.0%

Miami International stock opened at $42.58 on Friday. The business’s 50-day simple moving average is $41.83 and its 200 day simple moving average is $42.95. The stock has a market cap of $4.23 billion and a price-to-earnings ratio of 55.30. Miami International has a 12-month low of $32.19 and a 12-month high of $57.14.

Miami International (NYSE:MIAX) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. Miami International had a return on equity of 16.95% and a net margin of 9.70%.The firm had revenue of $387.63 million during the quarter. During the same period in the prior year, the firm posted $0.48 earnings per share. The business’s revenue for the quarter was up 34.8% compared to the same quarter last year. As a group, sell-side analysts expect that Miami International will post 1.69 EPS for the current year.

Insider Transactions at Miami International

In related news, CEO Thomas P. Gallagher sold 149,700 shares of Miami International stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $41.13, for a total value of $6,157,161.00. Following the sale, the chief executive officer owned 1,423,275 shares of the company’s stock, valued at approximately $58,539,300.75. This trade represents a 9.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Judson Gray Teekell sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $45.79, for a total value of $137,370.00. Following the transaction, the director directly owned 72,251 shares of the company’s stock, valued at approximately $3,308,373.29. This trade represents a 3.99% 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 three months, insiders have sold 797,208 shares of company stock worth $33,858,199. 15.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. J Digital 6 LLC bought a new position in Miami International in the second quarter valued at $67,157,000. Grandeur Peak Global Advisors LLC lifted its position in Miami International by 20.6% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 19,018 shares of the company’s stock worth $707,000 after buying an additional 3,247 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Miami International during the 2nd quarter worth about $5,618,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Miami International by 36.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,824 shares of the company’s stock worth $662,000 after buying an additional 4,714 shares during the last quarter. Finally, Goodwin Investment Advisory bought a new position in shares of Miami International in the 2nd quarter valued at about $1,041,000.

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.