Miami International (NYSE:MIAX) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Miami International (NYSE:MIAX) from a hold rating to a buy rating in a report released on Saturday.

Other equities research analysts also recently issued reports about the stock. Rosenblatt Securities lifted their price target on shares of Miami International from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised their price objective on 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 report on Friday, August 7th. Zacks Research cut shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Finally, Morgan Stanley boosted their price objective on Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $52.00.

Miami International Stock Performance

Shares of NYSE MIAX opened at $43.60 on Friday. The company’s 50 day moving average price is $41.73 and its 200-day moving average price is $42.94. Miami International has a 52-week low of $28.99 and a 52-week high of $57.14. The company has a market capitalization of $4.33 billion and a P/E ratio of 56.62.

Miami International (NYSE:MIAX) last posted 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 last year, the business posted $0.48 earnings per share. The business’s revenue was up 34.8% on a year-over-year basis. Analysts forecast that Miami International will post 1.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Thomas P. Gallagher sold 70,000 shares of Miami International stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $42.36, for a total value of $2,965,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,723,275 shares in the company, valued at approximately $72,997,929. The trade was a 3.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of Miami International stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $42.84, for a total transaction of $2,056,320.00. Following the completion of the transaction, the executive vice president owned 396,681 shares of the company’s stock, valued at $16,993,814.04. This represents a 10.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 647,508 shares of company stock worth $27,701,038 over the last quarter. 15.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Miami International

A number of large investors have recently made changes to their positions in the stock. State of Wyoming purchased a new position in Miami International during the 4th quarter valued at about $26,000. National Bank of Canada FI bought a new stake in shares of Miami International during the third quarter valued at about $29,000. Comerica Bank lifted its holdings in shares of Miami International by 295.6% in the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after buying an additional 937 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Miami International in the fourth quarter valued at approximately $66,000. Finally, Fifth Third Bancorp bought a new position in shares of Miami International in the first quarter valued at approximately $61,000.

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.