Miami International (NYSE:MIAX) Sees Strong Trading Volume – Still a Buy?

Shares of Miami International Holdings, Inc. (NYSE:MIAX) saw an uptick in trading volume on Monday . 1,078,246 shares changed hands during trading, an increase of 17% from the previous session’s volume of 918,619 shares.The stock last traded at $41.3460 and had previously closed at $42.23.

Wall Street Analysts Forecast Growth

MIAX has been the subject of several analyst reports. Morgan Stanley increased their target price on shares of Miami International from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Wall Street Zen downgraded shares of Miami International from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $55.00 price objective on shares of Miami International in a research note on Tuesday, December 9th. Weiss Ratings restated a “sell (d+)” rating on shares of Miami International in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their target price on Miami International from $32.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Four 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.20.

Miami International Trading Down 2.0%

The company has a market capitalization of $3.37 billion and a P/E ratio of 2,069.00. The firm has a fifty day moving average of $43.71.

Institutional Investors Weigh In On Miami International

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new position in Miami International during the third quarter worth about $55,660,000. Alyeska Investment Group L.P. purchased a new position in Miami International in the 3rd quarter valued at approximately $50,959,000. JPMorgan Chase & Co. bought a new stake in Miami International during the 3rd quarter valued at $32,679,000. North Reef Capital Management LP purchased a new stake in shares of Miami International during the third quarter worth $29,221,000. Finally, Caldwell Investment Management Ltd. bought a new position in shares of Miami International in the third quarter worth $27,056,000.

Miami International Company Profile

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.