Miami International (NYSE:MIAX) Stock Moved Down to Hold by Zacks Research

Zacks Research downgraded shares of Miami International (NYSE:MIAX) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks reports.

Several other brokerages have also recently commented on MIAX. Morgan Stanley reduced their price target on Miami International from $50.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, October 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miami International in a research report on Friday, August 7th. Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Keefe, Bruyette & Woods upped their price objective on Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, August 7th. Finally, Rosenblatt Securities cut their price objective on Miami International from $62.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.60.

Miami International Trading Down 2.0%

Shares of MIAX stock opened at $32.50 on Monday. Miami International has a 1 year low of $29.06 and a 1 year high of $57.14. The firm’s fifty day moving average price is $37.01 and its two-hundred day moving average price is $41.47. The firm has a market capitalization of $3.22 billion, a P/E ratio of 42.20 and a beta of 1.79.

Miami International (NYSE:MIAX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The business had revenue of $387.63 million for the quarter. Miami International’s revenue was up 34.8% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. As a group, equities research analysts forecast that Miami International will post 1.67 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Thomas Gallagher sold 47,000 shares of Miami International stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $42.43, for a total transaction of $1,994,210.00. Following the completion of the transaction, the chief executive officer owned 1,423,275 shares in the company, valued at approximately $60,389,558.25. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Douglas Schafer, Jr. sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $35.06, for a total value of $280,480.00. Following the transaction, the executive vice president directly owned 387,414 shares in the company, valued at approximately $13,582,734.84. This trade represents a 2.02% 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 517,721 shares of company stock worth $21,408,408 in the last three months. Insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its holdings in Miami International by 42.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,641 shares of the company’s stock valued at $88,000 after purchasing an additional 785 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Miami International by 48.9% during the 1st quarter. SG Americas Securities LLC now owns 3,537 shares of the company’s stock worth $138,000 after buying an additional 1,162 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of Miami International during the 1st quarter worth about $61,000. Swiss National Bank boosted its holdings in shares of Miami International by 6.3% during the 1st quarter. Swiss National Bank now owns 33,800 shares of the company’s stock worth $1,315,000 after buying an additional 2,000 shares during the period. Finally, New York State Teachers Retirement System bought a new stake in shares of Miami International during the 1st quarter worth about $84,000.

About Miami International

Miami International Holdings, Inc (NYSE: MIAX) is a financial exchange operator that owns and manages regulated marketplaces for the trading of options and other securities. Through its exchange platforms, the company provides electronic trading, order matching, market data and related services to brokers, market makers, institutional investors and other market participants.

The company operates the MIAX exchange family, which includes MIAX, MIAX Pearl and MIAX Emerald, as well as related equities and options trading venues.