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

Key Points

• Short interest surged 34.7% in March to 3,394,120 shares (about 3.7% of the stock) with a short-interest ratio of 2.6 days based on average daily volume.
• Quarterly results beat expectations: EPS $0.52 vs. $0.41 expected and revenue $369.43M (up 14% y/y), while the stock trades near $45.28 with a market cap of $4.15B.
• Significant insider selling occurred last quarter—insiders sold 267,629 shares worth roughly $10.8M, including sales by EVP Douglas M. Schafer Jr. and Director Kurt M. Eckert.

Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 3,394,120 shares, a growth of 34.7% from the March 15th total of 2,519,833 shares. Based on an average daily volume of 1,318,205 shares, the short-interest ratio is presently 2.6 days. Currently, 3.7% of the company's stock are sold short.

Miami International Stock Up 1.0%

Shares of NYSE:MIAX traded up $0.43 during trading on Friday, reaching $45.28. The stock had a trading volume of 280,772 shares, compared to its average volume of 1,323,081. The stock has a fifty day simple moving average of $40.69 and a two-hundred day simple moving average of $42.87. Miami International has a 52 week low of $28.63 and a 52 week high of $51.38. The firm has a market capitalization of $4.15 billion and a price-to-earnings ratio of 83.88.

Miami International (NYSE:MIAX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.11. The business had revenue of $369.43 million during the quarter, compared to the consensus estimate of $121.13 million. The company's revenue was up 14.0% compared to the same quarter last year.

Insider Activity at Miami International

In other news, EVP Douglas M. Schafer, Jr. sold 48,000 shares of Miami International stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $39.74, for a total value of $1,907,520.00. Following the completion of the transaction, the executive vice president owned 396,681 shares in the company, valued at approximately $15,764,102.94. This trade represents a 10.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kurt M. Eckert sold 37,917 shares of Miami International stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $39.00, for a total transaction of $1,478,763.00. Following the completion of the transaction, the director directly owned 142,375 shares of the company's stock, valued at approximately $5,552,625. This represents a 21.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 267,629 shares of company stock worth $10,812,697 over the last quarter.

Institutional Trading of Miami International

A number of hedge funds have recently bought and sold shares of the stock. State of Wyoming bought a new stake in shares of Miami International in the fourth quarter valued at about $26,000. National Bank of Canada FI bought a new stake in shares of Miami International in the 3rd quarter worth approximately $29,000. Comerica Bank lifted its position in shares of Miami International by 295.6% in the 4th quarter. Comerica Bank now owns 1,254 shares of the company's stock worth $56,000 after acquiring an additional 937 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Miami International during the 4th quarter worth approximately $66,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Miami International during the third quarter valued at approximately $101,000.

Wall Street Analyst Weigh In

Several brokerages have commented on MIAX. Rosenblatt Securities restated a "buy" rating and issued a $59.00 price target on shares of Miami International in a research note on Tuesday, April 7th. Wall Street Zen lowered shares of Miami International from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Weiss Ratings restated a "sell (d+)" rating on shares of Miami International in a report on Friday, March 27th. Keefe, Bruyette & Woods assumed coverage on shares of Miami International in a report on Wednesday, April 8th. They set a "market perform" rating and a $40.00 price target on the stock. Finally, Morgan Stanley increased their price objective on Miami International from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Miami International presently has an average rating of "Moderate Buy" and an average target price of $47.60.

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.

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