Wall Street Zen Upgrades Miami International (NYSE:MIAX) to Buy

Miami International (NYSE:MIAX) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other brokerages have also issued reports on MIAX. Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $59.00 price target on shares of Miami International in a research note on Thursday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Miami International in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.00.

Miami International Price Performance

Shares of MIAX opened at $40.93 on Friday. Miami International has a 1-year low of $28.63 and a 1-year high of $51.38. The company’s 50-day moving average is $42.29. The company has a market cap of $3.33 billion and a price-to-earnings ratio of 75.80.

Miami International (NYSE:MIAX) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) 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 the consensus estimate of $121.13 million. Miami International’s quarterly revenue was up 14.0% compared to the same quarter last year.

Insider Buying and Selling at Miami International

In other Miami International news, Director Murray Stahl sold 121,054 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $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 accessible through this link.

Institutional Trading of Miami International

A number of hedge funds have recently made changes to their positions in MIAX. Allspring Global Investments Holdings LLC bought a new stake in Miami International during the 3rd quarter valued at about $17,684,000. Coastal Bridge Advisors LLC bought a new position in shares of Miami International in the third quarter worth approximately $3,083,000. Pekin Hardy Strauss Inc. bought a new position in shares of Miami International in the third quarter worth approximately $1,033,000. Federated Hermes Inc. purchased a new stake in shares of Miami International during the third quarter valued at approximately $10,065,000. Finally, Caldwell Investment Management Ltd. bought a new stake in shares of Miami International during the third quarter valued at approximately $27,056,000.

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.