Miami International (NYSE:MIAX) Upgraded at Wall Street Zen

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

MIAX has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised their price objective on Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, August 7th. Morgan Stanley boosted their price objective on Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Weiss Ratings restated a “hold (c)” rating on shares of Miami International in a research note on Friday, August 7th. Rosenblatt Securities raised their target price on Miami International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $52.00.

Miami International Stock Performance

NYSE:MIAX opened at $42.47 on Friday. The firm’s 50-day moving average is $41.80 and its 200-day moving average is $42.95. The company has a market cap of $4.21 billion and a price-to-earnings ratio of 55.16. Miami International has a 52-week low of $31.20 and a 52-week high of $57.14.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Miami International in the 2nd quarter valued at $188,466,000. T. Rowe Price Investment Management Inc. increased its position in shares of Miami International by 24.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company’s stock worth $134,282,000 after purchasing an additional 595,096 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Miami International by 39.5% during the 4th quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock worth $85,577,000 after purchasing an additional 545,770 shares in the last quarter. Horizon Kinetics Asset Management LLC lifted its holdings in Miami International by 31.6% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company’s stock valued at $80,763,000 after purchasing an additional 437,395 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in Miami International by 1.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,286,086 shares of the company’s stock valued at $57,076,000 after purchasing an additional 20,350 shares during the last quarter.

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.