Miami International Holdings, Inc. (NYSE:MIAX) Sees Large Decline in Short Interest

Miami International Holdings, Inc. (NYSE:MIAX) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 2,377,849 shares, a decline of 40.5% from the December 31st total of 3,996,304 shares. Based on an average trading volume of 1,056,041 shares, the short-interest ratio is currently 2.3 days. Currently, 2.9% of the shares of the stock are short sold. Currently, 2.9% of the shares of the stock are short sold. Based on an average trading volume of 1,056,041 shares, the short-interest ratio is currently 2.3 days.

Miami International Price Performance

NYSE:MIAX traded up $0.26 on Friday, reaching $41.95. 189,280 shares of the stock traded hands, compared to its average volume of 885,962. The stock has a market capitalization of $3.42 billion and a price-to-earnings ratio of 2,097.45. Miami International has a 1-year low of $28.63 and a 1-year high of $51.38. The firm has a 50 day moving average of $44.14.

Miami International (NYSE:MIAX) last announced its earnings results on Wednesday, November 5th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.12. During the same quarter in the prior year, the company posted $0.11 EPS. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year.

Analyst Ratings Changes

MIAX has been the topic of several research reports. Zacks Research lowered shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $55.00 target price on shares of Miami International in a research note on Tuesday, December 9th. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. JPMorgan Chase & Co. boosted their price objective on Miami International from $32.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Miami International in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $47.20.

Institutional Trading of Miami International

Several hedge funds have recently modified their holdings of the stock. National Bank of Canada FI acquired a new stake in Miami International in the third quarter worth $29,000. Comerica Bank grew its stake in shares of Miami International by 295.6% in the 4th quarter. Comerica Bank now owns 1,254 shares of the company’s stock valued at $56,000 after buying an additional 937 shares during the period. Emerald Mutual Fund Advisers Trust bought a new stake in Miami International in the 3rd quarter valued at about $101,000. SG Americas Securities LLC bought a new stake in Miami International in the 4th quarter valued at about $105,000. Finally, Texas Yale Capital Corp. bought a new position in Miami International in the third quarter worth approximately $201,000.

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.