Miami International (NYSE:MIAX) Stock Rating Upgraded by Zacks Research

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

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods began coverage on shares of Miami International in a research note on Wednesday, April 8th. They set a “market perform” rating and a $40.00 price target for the company. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Miami International in a research report on Friday, March 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $59.00 target price on shares of Miami International in a research note on Tuesday, April 7th. Finally, Morgan Stanley lifted their target price on shares of Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Miami International Trading Up 0.3%

Shares of NYSE:MIAX traded up $0.12 during midday trading on Wednesday, reaching $44.97. The company had a trading volume of 111,280 shares, compared to its average volume of 1,319,818. The company’s 50 day moving average price is $40.69 and its 200 day moving average price is $42.87. The stock has a market cap of $4.12 billion and a P/E ratio of 83.28. Miami International has a 52-week low of $28.63 and a 52-week high of $51.38.

Miami International (NYSE:MIAX) last issued 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 during the quarter, compared to analysts’ expectations of $121.13 million. Miami International’s quarterly revenue was up 14.0% on a year-over-year basis.

Insider Activity at Miami International

In related news, EVP Shelly Brown sold 25,932 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $39.33, for a total value of $1,019,905.56. Following the sale, the executive vice president owned 299,197 shares in the company, valued at approximately $11,767,418.01. This trade represents a 7.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kurt M. Eckert sold 37,917 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $39.00, for a total value of $1,478,763.00. Following the completion of the sale, the director owned 142,375 shares in the company, valued at $5,552,625. This trade represents a 21.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 267,629 shares of company stock valued at $10,812,697 in the last quarter.

Institutional Inflows and Outflows

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

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.