Miami International Holdings, Inc. (NYSE:MIAX) Short Interest Update

Miami International Holdings, Inc. (NYSE:MIAX) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 3,996,304 shares, a growth of 99.1% from the December 15th total of 2,007,443 shares. Based on an average daily volume of 1,268,942 shares, the days-to-cover ratio is currently 3.1 days. Approximately 4.9% of the company’s stock are short sold. Approximately 4.9% of the company’s stock are short sold. Based on an average daily volume of 1,268,942 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its position in Miami International by 105.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 932,053 shares of the company’s stock worth $40,684,000 after purchasing an additional 478,385 shares during the period. SG Americas Securities LLC bought a new stake in shares of Miami International in the 4th quarter valued at about $105,000. JPMorgan Chase & Co. bought a new stake in Miami International during the third quarter valued at about $32,679,000. Tudor Investment Corp ET AL purchased a new stake in shares of Miami International during the third quarter valued at about $1,833,000. Finally, Hudson Bay Capital Management LP purchased a new stake in Miami International in the third quarter valued at about $1,656,000.

Miami International Price Performance

Miami International stock opened at $43.45 on Friday. The stock has a fifty day simple moving average of $44.99. Miami International has a twelve month low of $28.63 and a twelve month high of $51.38. The company has a market capitalization of $3.54 billion and a P/E ratio of 2,172.50.

Miami International (NYSE:MIAX) last issued its earnings results on Wednesday, November 5th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 EPS.

Analyst Upgrades and Downgrades

MIAX has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on Miami International from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Keefe, Bruyette & Woods increased their target price on Miami International from $43.00 to $44.00 and gave the company a “market perform” rating in a research report on Thursday, November 6th. Zacks Research downgraded shares of Miami International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. JPMorgan Chase & Co. lifted their price objective on shares of Miami International from $32.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Finally, Rosenblatt Securities restated a “buy” rating and set a $55.00 target price on shares of Miami International in a report on Tuesday, December 9th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Miami International presently has a consensus rating of “Hold” and a consensus price target of $47.20.

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.