Miami International (NYSE:MIAX) Rating Lowered to “Hold” at Zacks Research

Miami International (NYSE:MIAXGet Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

MIAX has been the topic of a number of other reports. Rosenblatt Securities lifted their price target on Miami International from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods increased their price target on shares of Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley boosted 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. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.20.

Read Our Latest Report on Miami International

Miami International Stock Performance

MIAX stock opened at $36.52 on Tuesday. The firm has a market cap of $3.47 billion and a P/E ratio of 38.04. The firm’s fifty day moving average is $45.74 and its 200 day moving average is $43.33. Miami International has a 52 week low of $28.63 and a 52 week high of $57.14.

Miami International (NYSE:MIAXGet Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $369.69 million for the quarter, compared to analysts’ expectations of $122.74 million. The business’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 earnings per share. As a group, analysts forecast that Miami International will post 1.53 EPS for the current year.

Insider Transactions at Miami International

In related news, CEO Thomas P. Gallagher sold 174,125 shares of Miami International stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $43.36, for a total transaction of $7,550,060.00. Following the sale, the chief executive officer directly owned 1,723,275 shares in the company, valued at $74,721,204. The trade was a 9.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Barbara J. Comly sold 29,667 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $43.64, for a total value of $1,294,667.88. Following the completion of the transaction, the executive vice president owned 843,844 shares of the company’s stock, valued at approximately $36,825,352.16. This trade represents a 3.40% 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 sold a total of 710,022 shares of company stock worth $31,615,730 over the last 90 days. 15.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. State of Wyoming purchased a new stake in shares of Miami International in the 4th quarter worth approximately $26,000. National Bank of Canada FI bought a new position in shares of Miami International in the third quarter worth approximately $29,000. Comerica Bank lifted 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 worth $56,000 after buying an additional 937 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of Miami International during the first quarter valued at approximately $61,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Miami International in the 4th quarter worth approximately $66,000.

About Miami International

(Get Free Report)

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.

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Analyst Recommendations for Miami International (NYSE:MIAX)

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