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

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

Other equities research analysts have also issued research reports about the company. Weiss Ratings raised Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Rosenblatt Securities upped their target price on Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their price target on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Wall Street Zen downgraded Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Keefe, Bruyette & Woods boosted their price objective on Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $51.20.

Miami International Price Performance

Shares of NYSE:MIAX opened at $36.52 on Tuesday. The firm has a fifty day moving average price of $45.74 and a two-hundred day moving average price of $43.33. Miami International has a one year low of $28.63 and a one year high of $57.14. The company has a market cap of $3.47 billion and a price-to-earnings ratio of 38.04.

Miami International (NYSE:MIAX) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $369.69 million for the quarter, compared to analysts’ expectations of $122.74 million. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share. Equities research analysts expect that Miami International will post 1.53 EPS for the current fiscal year.

Insider Transactions at Miami International

In other Miami International news, Director Cynthia Schwarzkopf sold 19,500 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $41.73, for a total value of $813,735.00. Following the completion of the transaction, the director directly owned 81,308 shares in the company, valued at approximately $3,392,982.84. This represents a 19.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kurt M. Eckert sold 5,250 shares of Miami International stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $42.76, for a total transaction of $224,490.00. Following the sale, the director directly owned 142,375 shares in the company, valued at $6,087,955. The trade was a 3.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 710,022 shares of company stock worth $31,615,730. Corporate insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MIAX. Mad River Investors lifted its stake in shares of Miami International by 0.6% in the 4th quarter. Mad River Investors now owns 75,050 shares of the company’s stock valued at $3,331,000 after purchasing an additional 450 shares during the period. State of Wyoming purchased a new stake in Miami International in the fourth quarter worth $26,000. National Bank of Canada FI bought a new position in Miami International in the third quarter worth $29,000. First Trust Advisors LP lifted its position in Miami International by 3.5% during the fourth quarter. First Trust Advisors LP now owns 21,671 shares of the company’s stock valued at $962,000 after buying an additional 733 shares during the period. Finally, Coastal Bridge Advisors LLC boosted its holdings in shares of Miami International by 1.1% during the 4th quarter. Coastal Bridge Advisors LLC now owns 77,415 shares of the company’s stock valued at $3,436,000 after buying an additional 850 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.