Miami International (NYSE:MIAX) Upgraded by Zacks Research to “Strong-Buy” Rating

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

Several other research analysts have also issued reports on MIAX. Wall Street Zen raised shares of Miami International to a “hold” rating in a research note on Saturday, August 23rd. JPMorgan Chase & Co. increased their price objective on shares of Miami International from $32.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. William Blair started coverage on Miami International in a research report on Monday, September 8th. They issued an “outperform” rating for the company. Morgan Stanley increased their price target on Miami International from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Finally, Raymond James Financial started coverage on Miami International in a report on Monday, September 8th. They set a “market perform” rating for the company. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.20.

Miami International Stock Performance

Shares of NYSE:MIAX traded down $0.06 during trading on Monday, reaching $49.42. The stock had a trading volume of 103,399 shares, compared to its average volume of 746,179. Miami International has a 52 week low of $28.63 and a 52 week high of $50.38. The business’s fifty day moving average is $41.68.

Miami International (NYSE:MIAX) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 EPS.

Insiders Place Their Bets

In other news, Director Murray Stahl bought 34,470 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was acquired at an average cost of $36.10 per share, with a total value of $1,244,367.00. Following the completion of the transaction, the director directly owned 4,557,919 shares of the company’s stock, valued at $164,540,875.90. This represents a 0.76% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired 34,476 shares of company stock worth $1,244,618 over the last three months.

Institutional Trading of Miami International

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Miami International in the third quarter worth approximately $17,684,000. Caldwell Investment Management Ltd. purchased a new position in Miami International during the 3rd quarter valued at $27,056,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Miami International in the 3rd quarter valued at approximately $101,000. Atlas Wealth Partners LLC bought a new stake in Miami International during the third quarter worth about $881,000. Finally, Federated Hermes Inc. bought a new position in shares of Miami International during the third quarter valued at $10,065,000.

About Miami International

We are a technology-driven leader in building and operating regulated financial marketplaces across multiple asset classes and geographies. Our MIAX Exchanges, MIAX Futures and BSX marketplaces are enabled by our in-house built, proprietary technology. We believe the speed and performance of our proprietary technology coupled with our fully integrated, award-winning customer service, sets us apart from our competitors.