Miami International Holdings, Inc. (NYSE:MIAX) Short Interest Update

Miami International Holdings, Inc. (NYSE:MIAX) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 3,394,120 shares, a growth of 34.7% from the March 15th total of 2,519,833 shares. Approximately 3.7% of the shares of the stock are sold short. Based on an average daily volume of 1,318,205 shares, the short-interest ratio is presently 2.6 days.

Miami International Trading Up 0.8%

NYSE:MIAX traded up $0.36 during trading hours on Friday, hitting $45.21. 646,649 shares of the stock traded hands, compared to its average volume of 1,327,335. The firm has a 50 day moving average price of $40.69 and a 200 day moving average price of $42.87. Miami International has a fifty-two week low of $28.63 and a fifty-two week high of $51.38. The firm has a market cap of $4.14 billion and a price-to-earnings ratio of 83.71.

Miami International (NYSE:MIAX) last announced its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.11. The firm had revenue of $369.43 million for the quarter, compared to analyst estimates of $121.13 million. Miami International’s quarterly revenue was up 14.0% on a year-over-year basis.

Insider Transactions at Miami International

In other Miami International news, Director Kurt M. Eckert sold 37,917 shares of the company’s stock in a transaction that occurred 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 directly owned 142,375 shares in the company, valued at $5,552,625. This represents a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Edward Deitzel sold 7,572 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $42.02, for a total value of $318,175.44. Following the completion of the sale, the executive vice president owned 116,221 shares of the company’s stock, valued at $4,883,606.42. This trade represents a 6.12% 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 a total of 267,629 shares of company stock valued at $10,812,697 over the last three months.

Hedge Funds Weigh In On Miami International

A number of hedge funds have recently modified their holdings of MIAX. Allspring Global Investments Holdings LLC acquired a new position in shares of Miami International in the third quarter worth $17,684,000. Caldwell Investment Management Ltd. acquired a new position in Miami International during the third quarter worth $27,056,000. Emerald Mutual Fund Advisers Trust acquired a new position in Miami International during the third quarter worth $101,000. Atlas Wealth Partners LLC acquired a new position in Miami International during the third quarter worth $881,000. Finally, Federated Hermes Inc. acquired a new position in Miami International during the third quarter worth $10,065,000.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MIAX shares. Zacks Research raised Miami International from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Miami International in a report on Friday, March 27th. Keefe, Bruyette & Woods started coverage on Miami International in a report on Wednesday, April 8th. They issued a “market perform” rating and a $40.00 price target on the stock. Morgan Stanley upped their price target on Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $59.00 price target on shares of Miami International in a report on Tuesday, April 7th. 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 given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.60.

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.