Miami International (NYSE:MIAX) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Miami International (NYSE:MIAX) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other research analysts have also weighed in on MIAX. Morgan Stanley lifted their price objective on shares of Miami International from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Keefe, Bruyette & Woods began coverage on Miami International in a research note on Wednesday, April 8th. They set a “market perform” rating and a $40.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $59.00 target price on shares of Miami International in a report on Tuesday, April 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Miami International in a report on Friday, March 27th. Finally, Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Miami International Stock Up 0.2%

NYSE MIAX traded up $0.08 during trading hours on Wednesday, hitting $44.93. The company’s stock had a trading volume of 105,937 shares, compared to its average volume of 1,319,818. Miami International has a twelve month low of $28.63 and a twelve month high of $51.38. The firm has a market capitalization of $4.12 billion and a P/E ratio of 83.19. The stock has a fifty day moving average of $40.69 and a 200 day moving average of $42.87.

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

Insiders Place Their Bets

In related news, Director Judson Gray Teekell sold 2,700 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $40.00, for a total transaction of $108,000.00. Following the completion of the transaction, the director owned 59,338 shares in the company, valued at approximately $2,373,520. This represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Edward Deitzel sold 7,572 shares of Miami International stock in a transaction dated Wednesday, April 8th. The shares were 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 directly owned 116,221 shares in the company, valued at approximately $4,883,606.42. This represents a 6.12% 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. Insiders have sold a total of 267,629 shares of company stock valued at $10,812,697 over the last 90 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MIAX. State of Wyoming bought a new position in Miami International during the fourth quarter worth about $26,000. National Bank of Canada FI bought a new stake in shares of Miami International during the 3rd quarter worth about $29,000. Comerica Bank lifted its position in Miami International by 295.6% during the fourth quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after acquiring an additional 937 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Miami International during the fourth quarter worth approximately $66,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Miami International during the third quarter worth approximately $101,000.

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.