Miami International (NYSE:MIAX) Stock Rating Lowered by Wall Street Zen

Miami International (NYSE:MIAX) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

MIAX has been the subject of a number of other research reports. Morgan Stanley lifted their target price on Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miami International in a research report on Friday, August 7th. Keefe, Bruyette & Woods lifted their price objective 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. Zacks Research downgraded shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Finally, Rosenblatt Securities increased their target price on shares of Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $52.00.

Miami International Trading Up 3.3%

Shares of NYSE MIAX opened at $43.98 on Friday. Miami International has a 12 month low of $32.19 and a 12 month high of $57.14. The stock has a 50 day moving average of $41.83 and a 200-day moving average of $42.97. The company has a market capitalization of $4.36 billion and a P/E ratio of 57.12.

Miami International (NYSE:MIAX) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. The firm had revenue of $387.63 million for the quarter. Miami International had a net margin of 9.70% and a return on equity of 16.95%. Miami International’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Analysts predict that Miami International will post 1.69 EPS for the current fiscal year.

Insider Transactions at Miami International

In other news, Director Judson Gray Teekell sold 3,000 shares of Miami International stock in a transaction 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 owned 72,251 shares in the company, valued at approximately $3,308,373.29. This trade represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 149,700 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,423,275 shares of the company’s stock, valued at approximately $58,539,300.75. The trade was a 9.52% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 797,208 shares of company stock worth $33,858,199. 15.60% of the stock is owned by insiders.

Institutional Trading of Miami International

A number of hedge funds and other institutional investors have recently modified their holdings of MIAX. State of Wyoming bought a new position in Miami International in the fourth quarter valued at about $26,000. National Bank of Canada FI acquired a new position in shares of Miami International in the third quarter valued at approximately $29,000. Comerica Bank increased its stake in shares of Miami International by 295.6% in the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock valued at $56,000 after buying an additional 937 shares during the period. Fifth Third Bancorp bought a new position in Miami International in the 1st quarter valued at approximately $61,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Miami International during the 4th quarter worth approximately $66,000.

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.